Tax

  • Tax Tips for Medical Students and Residents for the 2018 Tax Year

    Tax Tips for Medical Students and Residents for the 2018 Tax Year

    As a medical student or resident, being aware of things like tax benefits can help reduce the tax you pay and put you ahead financially. Here are some tax tips, including ways to help reduce your tax

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  • Four tips to help you manage your finances

    For new in practice physicians, setting up a debt repayment plan – and tracking where money is being spent – is a crucial step toward financial well-being. Now that you’re finally making an income,

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  • Five tax tips for medical residents

    As a medical resident, being aware of the tax benefits that you may qualify for can help minimize the taxes you pay.

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  • A smart practice: Splitting income to keep more of your money

    A smart practice: Splitting income to keep more of your money

    Income splitting is a tax strategy that allows a higher-income earning spouse to equalize their income with their lower-income earning partner to effectively lower their overall tax bill.

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  • The RRSP deadline is days away. Don’t miss the opportunity!

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  • Sharing the wealth: why it pays to donate private shares to charity in your estate plan

    If you are an incorporated physician, you can reduce the tax burden on your estate by donating shares from your private corporation

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  • Don't pay more tax than you have to: Use TFSAs as part of your financial plan

    Don't pay more tax than you have to: Use TFSAs as part of your financial plan

    A tax-free savings account (TFSA) is more than just a great way to build wealth: As part of a financial planning strategy, a TFSA can help ensure you don't pay more tax than necessary.TFSAs serve...

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  • Medical Residents: 10 Painless Tips for Filing Your Income Tax Return

    Medical residents—we’ve got the tips you need to get your taxes done on time. You may even save some money in the process.

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  • MD Financial Management Releases Year-End Income and Capital Gains Distributions

    MD Financial Management Inc. released year-end income and capital gains distributions for MD Funds, MD Precision Portfolios™ and MDPIM Pools between December 18 and 29, 2017.

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  • RRSP or TFSA: Which Is Right for You?

    In an ideal world, you would contribute the maximum amount to both your RRSP and TFSA every year.

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  • Federal Budget’s New Proposed Rules: A Primer for Medical Residents

    Federal Budget’s New Proposed Rules: A Primer for Medical Residents

    This primer will help you grasp the basics behind incorporating a medical practice and understand how the proposed tax changes in the 2018 federal budget could affect you in the future.

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  • Maximizing RRSPs and TFSAs: Getting the Most Out of Two Powerful Tax-Advantaged Vehicles

    Both RRSPs and TFSAs offer valuable benefits. What is the difference between an RRSP and a TFSA? How do you maximize the tax-deferred growth of each? Contribution limit, tax deductible, withdrawals.

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  • Cover Future RRSP/RRIF Taxes With Permanent Life Insurance

    Whether your money is invested in a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF), any balance remaining will be taxed upon your death unless the RRSP or...

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  • How to master these two cash-flow challenges while transitioning into practice

    Transitioning into practice is an exciting and challenging time for medical residents. Not only do you have the professional challenges of settling into your career, there are also a number of...

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  • Tax Instalment Payments: Five Things New Physicians Need to Know

    Transitioning into practice can be both exciting and stressful. On the business side, there are a number of financial planning issues you’ll need to address. One of these is managing your...

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  • Mergers and Acquisitions Floodgates Open in the Pharmaceutical Industry

    Mergers and Acquisitions Floodgates Open in the Pharmaceutical Industry

    Recently, we have seen a flurry of mergers and acquisitions in the Pharmaceutical and Biotechnology industries. Here are the factors that have contributed to it.

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  • TFSAs: Harnessing the Power of Tax-Free Savings

    TFSA is designed to help Canadians save money, either for the short term or long term. Learn key facts about TFSAs, like eligibility, contribution limits, withdrawals and investment types.

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  • Case Study: Income Splitting Through Dividend Income

    IMPORTANT NOTICE: Professional medical corporation information on MD’s web site is based on existing incorporation rules which may be impacted by proposals announced in the Department of Finance’s...

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  • 8 Important Factors to Consider When You Have Incorporated Your Practice

    IMPORTANT NOTICE: Professional medical corporation information on MD’s web site is based on existing incorporation rules which may be impacted by proposals announced in the Department of Finance’s...

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  • What are the pros and cons of incorporating my practice?

    To better understand how to make the incorporation decision, take a look at the advantages and disadvantages of incorporating outlined below.

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  • Tax Context for Incorporated Physicians

    IMPORTANT NOTICE: Professional medical corporation information on MD’s web site is based on existing incorporation rules which may be impacted by proposals announced in the Department of Finance’s...

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