11 Reasons Why Physicians Contribute to RESPs

11 Reasons Why Physicians Contribute to RESPs

As veterans of higher education, physicians often anticipate that their children will carry the torch of post-secondary learning. Physicians can optimize savings and tax on this future expenditure by contributing to a Registered Education Savings Plan (RESP), which...
Moving Expenses: When are they deductible for physicians?

Moving Expenses: When are they deductible for physicians?

Are you a physician who moved in 2022, or are considering a move in 2023? If so, your moving expenses may be deductible for tax purposes.   Are you eligible to claim moving expenses? To claim moving expenses, you must meet the following criteria outlined by CRA: One...
The Self-Employed Physician

The Self-Employed Physician

How to Organize Yourself for Personal Tax Filing   Step 1: Be Aware of Your Income & Expenses   As a self-employed physician, fee-for-service income can come from a variety of sources, including various health authorities (WRHA, NRHA, IERHA, etc.),...
4 Common Tax Questions from Manitoba Resident Physicians

4 Common Tax Questions from Manitoba Resident Physicians

The most frequent questions we receive from resident physicians relate to their ability to claim various tax credits and deductions. This is often complicated by their participation in various assistance or rebate programs and the continuing cost of their medical...