Bokhaut Chartered Accountant Inc.
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  Should You Incorporate Your Medical Practice?

It is prudent to consider incorporation if:

You have professional income (that is not employment income) exceeding $100,000

  • You have a spouse and/or child above the age of 18 (at December 31 of this year) with income of less than $40,000
And / or:
  • You are earning an amount sufficient to meet your living needs and still save $50,000 per year (in RRSP, RESP or other investments)
And / or:
  • Your family medical costs (including medical insurance) for which you do not receive reimbursement exceeds $7,500 per year