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I have just graduated as a professional in a health related field and will be starting my own business. What are the advantages of becoming a professional corporation?

  Here are a few advantages to help you make the decision to incorporate or not incorporate.
  1. Tax Savings – you will pay tax at the lower corporate tax rate rather than the individual tax rate.  Paying shareholders in dividends and not salaries may be taxed at a lower rate.
 
  1. You will have a Capital Gains exemption on the sale of practice (if selling the shares of the professional corporation).
 
  1. You can participate in income splitting between family members (if family members are permitted to be shareholders of the professional corporation – at the present time physicians and dentists are permitted to add family members as shareholders of their professional corporations).
 
A business lawyer specializing in establishing professional corporations can advise you in all of the advantages of incorporating your health practice.  Our legal professionals are well-respected leaders in the legal community.  Our skills can help you minimize your risk and maximize your reward and help you build and protect your business.
Paul Pop
Paul Pop
P: 905.667.6406
ppop@rossmcbride.com