Calculate your savings

Basic data
Professional fees:
Expenditure related to your practice, professional  contribution, expenditure on vehicles, computer hardware, banking expenses, professional insurance, salary of an assistant, etc.   

 

Dividends or salaries wanted by the doctor (for your  personal expenses) 

 

Non-incorporated doctor
Professional fees   .........................................................................................................
Expenditure related to your practice      
Funds available before tax
Federal tax (Federal, Tax allowance of Quebec and basic credit)     
Provincial tax (Quebec) 
Funds available after tax    

 

 

Incorporated doctor (joint stock company)
Professional fees...................................................................................................
Expenditure related to your practice  
Funds available before corporate tax (T2)    
Corporate tax (19% Federal & provincial) 
Funds available after tax  and before dividends   
Dividends paid to the doctor    
Balance remaining with the company and to be carried over to the  following  year    
   
Real dividends  received by the doctor    
Taxes on private individuals on the dividends (federal)
Taxes on private individuals on the dividends (provincial)       
Funds available for personal expenses   

 

 

Results
Total taxes if not incorporated.........................................................
Total taxes  if  incorporated (personal + corporate)    

Savings on tax

(per year)

 

* The present table is an estimate of the tax savings possible thanks to the formation of a joint stock company 

 

As you can see, the more the doctor bills to the RAMQ, more the funds available in the joint stock company are important. These sums will attract important tax benefits and will also allow the carrying forward of the tax to the years to come  which will, in turn, allow the doctor to accumulate significant sums of money as the years go by. It will augment his capital in a significant  fashion. 

In order to benefit  from all the advantages of exercising a profession through a joint stock company, do business with Med/Corp Incorporation of doctors. 

 

 

Med/Corp Incorporation of doctors