Basic Tax Planning Archives

Optimal Corporate Income-Splitting Strategies

August 4, 2023 The Loonie Doctor Basic Tax Planning

Preceding posts reviewed an approach to how to pay yourself through your Canadian Controlled Private Corporation. Most corporation owners start[…]

Pension Basics For Self-Employed Professionals & Business Owners

July 14, 2023 The Loonie Doctor Basic Financial Curriculum, Basic Tax Planning

I often hear physicians and other incorporated professionals lament that they don’t have a pension. Sometimes, that is tainted by[…]

Why To Pay Yourself Salary From Your Corporation

July 7, 2023 The Loonie Doctor Basic Financial Curriculum, Basic Tax Planning

You primarily take money out of your corporation using salary, dividends, or both. In the preceding post, I discussed how[…]

Dividends To Maximize Your Corporate & Personal Cash Flow

June 30, 2023 The Loonie Doctor Basic Financial Curriculum, Basic Tax Planning

In the last couple of posts, I discussed the basics of how money moves and is stored in a corporation.[…]

Corporation Account Types: Know Where The Money Is

June 16, 2023 The Loonie Doctor Basic Financial Curriculum, Basic Tax Planning, Uncategorized

A corporation has different accounts to optimally hold your money. There are also notional accounts that only exist on paper. Still, those can mean real money through the tax refunds and advantages they offer. Learn how.

Income Smoothing Using A Corporation To Reduce Tax

June 9, 2023 The Loonie Doctor Basic Financial Curriculum, Basic Tax Planning

The better you can regulate your income and personal cash flow using a corporation, the more money you have to spend now or invest for the future. Learn how.

How To Pay Salary vs Dividends From Your Corporation (Video)

June 2, 2023 The Loonie Doctor Basic Financial Curriculum, Basic Tax Planning

A corporation can be a great tool for high-income professionals to manage their cash flow. It can smooth out income[…]

Strategies to Withdraw Big Money From Your Corporation Tax Efficiently

February 10, 2023 The Loonie Doctor Basic Tax Planning

Canadian Controlled Private Companies (CCPCs), such as professional corporations, are excellent tax-deferred investing vehicles. However, to withdraw money from a[…]

Income Splitting Strategies for Canadians

February 3, 2023 The Loonie Doctor Basic Financial Curriculum, Basic Tax Planning

Spreading the income between both partners keeps marginal tax rates as low as possible. Like a sprinkler. Less evaporates via the tax bill and more soaks into the soil of the family plot to nourish your family. Learn how to plan your household’s financial irrigation system to grow your family’s financial garden. Even in the Canadian climate.