Beyond MD Podcast: Optimizing Your Professional Corporation Part 1

I recently had the pleasure of chatting with Dr. Yatin Chadha on his Beyond MD Podcast. Yatin has been podcasting about finance for Canadian physicians for a number of years now. He has some real expert guests and grills them on the nitty-gritty of taxes, investing, and different financial instruments targeted at high-income professionals. In that vane, we had an in-depth conversation about the tax basics of incorporation. Click the image below for a link to the episode. We cover how professional corporations work and some of the nuts and bolts of how to use them efficiently.

The mission behind the Loonie Doctor Blog (2:41)

Mark’s evolution (6:17)

Corporation taxation basics (8:29)

What are the main advantages of incorporating? (10:46)

RDTOH basics (12:45)

Canadian/eligible dividends earned through the corporation – should we pay these dividends out to ourselves (15:29)?

Overview of passive income rules (19:15)

GRIP/General Rate Income Pool (21:30)

ON and NB are different with the passive income rules (22:57))

Capital gains harvest & the capital dividend account/CDA (27:16)

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