Practising Physicians
Maximize your cash flow in your prime saving and investing years.
Setting up your finances for early retirement
If you’re considering early retirement, it’s important to take stock of your finances to make sure you’re adequately prepared for a post-retirement life without your physician’s income.
Private Equity: Frequently Asked Questions
Private equity is a type of investment where capital is used to buy and operate companies that are not publicly traded, giving qualified investors access to a large number of privately held companies.
How does the FHSA compare with the TFSA, RRSP and Home Buyers’ Plan (HBP)?
Wondering how the first home savings account (FHSA) is different from a TFSA, RRSP, and Home Buyers’ Plan (HBP)? Here’s a breakdown of how each one works.
Retirement timeline for physicians: How to prepare for a comfortable retirement
Retiring may be the furthest thing from a young physician’s mind. After graduating from medical school, completing a residency and establishing a practice, it might seem odd to start planning for a retirement that may be decades away.
Going part-time: What physicians need to know
A growing number of younger doctors are considering transition to part-time practice as they seek a better work-life balance.
Recommended Tax Changes for 2023
With the new year upon us, it’s time to review the major personal income tax changes for 2023 — especially since many of them could help you save money.
What are the tax rules for common law partners
With common-law relationships on the rise in Canada, here’s what you need to know about tax rules for filing your tax return as a common-law partnership.
Tax considerations for Indigenous physicians
If you’re an Indigenous physician working in Canada, read this guide to understand what Indigenous tax exemptions you may qualify for.
Crystallizing capital gains: What is this and why would you do it?
If you’re wondering what capital gains are or how to avoid capital gains tax in Canada, check out this quick guide to crystallizing capital gains.
Medicus or an Individual Pension Plan (IPP) — which pension is right for you?
This article compares two retirement savings options – IPP and Medicus – to help physicians decide which might be the best fit for them. Learn more.
How to get the most out of the First Home Savings Account (FHSA)
If you’re in the market to buy your first home, the First Home Savings Account (FHSA) can help you get there — tax-free! Here’s what we know about the tax-free First Home Savings Account and how physicians can tap into its benefits.
Charitable donations: Ordinary and exceptional gifts explained
When it comes to charitable giving, there are two types of donations: ordinary and exceptional. Learn your options when planning your charitable gift.
Preparing for the family meeting: how to talk to your children about your estate plan
A well-planned family meeting can defuse tension around your estate and provide crucial feedback to help you fine-tune your plan and keep it aligned with your vision.
Why corporate-owned life insurance is a powerful planning tool
You probably know that life insurance can provide a tax-effective lump sum to your heirs or your estate at death. But did you know that life insurance also offers benefits while you’re alive?
Tax loss harvesting: turn losses into gains
Tax loss harvesting involves selling an investment for less than you paid for it, then using the loss to offset an investment gain at tax time. Learn how.
How dividends are taxed in Canada
Dividends are a useful way to pay yourself through your company. Here’s how dividends are taxed in Canada to make sure you’re optimizing your tax savings.
Charitable giving: tax-effective strategies
Learn tax-effective charitable giving strategies that allow you (or your estate) to benefit from tax savings while the charity benefits from your gift.
Investing as a physician: a primer
Physicians have unique needs when it comes to investing. Here’s a look the basics of investing from a physician’s perspective.
Financial planning for physicians — why you’re different
Get the basics about financial planning for physicians and how financial advice for physicians can help you achieve your life goals.
Locum Tenens: The Basics for Physicians
Locum tenens is a Latin phrase, meaning “to hold the place of, to substitute for.” In the medical community it’s used to describe a physician who fills a temporary position at a hospital or practice. This is known casually as locuming. Here’s an overview of how it works, who does it, and why it’s important.