I’m a new Physician to Victoria and some of my colleagues suggest I incorporate my new practice (just started) in order to pay my wife a salary, perhaps as a way of splitting income.
I also have 2 young children to plan for.
Do you offer tax planning advice for new doctors starting out in practice?
We can definitely help with your new corporate structure and ongoing tax planning. For a quick review of some of the benefits of incorporating your practice click here.
Although you may not be able to split a significant amount of income with your wife by paying her a salary (unless she was working for you), you may be able to save by issuing her dividends as a non-voting shareholder of your new corporation.
We also have tax strategies we can implement that involve the use of Trust and additional corporations for more extensive tax and financial planning.
Please give me a call at 250-381-2400 and we can discuss further.