Month of Giving (Part 2): Tax Efficient Donating

Month of Giving (Part 2): Tax Efficient Donating

Many physicians in Canada have incorporated their practices, as there are significant tax benefits to doing so. This then provides incorporated doctors with two avenues to donation: Corporate Donations Personal Donations We are often asked, “should I make donations...
Month of Giving (Part 2): Tax Efficient Donating

Month of Giving (Part 1): Donation Tax Credit Refresher

December is the month of giving. While deciding which charitable organizations you wish to support this year, the following donation tax credit information is good to keep in mind:   What qualifies as a donation for tax purposes? To qualify for the donation tax...
The Season of Giving – is it taxable?

The Season of Giving – is it taxable?

As the holiday season approaches, it is not unusual for doctors to provide gifts to their employees, hospital administrative staff, colleagues, and nurses. While these gifts are generous gestures, they may result in unexpected tax implications. Gifts to Employees When...
Financial Considerations of Buying a Home

Financial Considerations of Buying a Home

  There is a lot to think about when you buy your first home. What colour should you paint the living room? What should the extra bedroom be used for? A home office? A gym? Or maybe a nursery? Outside of aspirational objectives, there are many practical matters...