Many professionals continue to place their trust in the accounting, tax and advisory expertise of Taylor Leibow.

We work with clients in a wide range of industries.

Whether you’re a specialist physician, family practitioner, dentist, lawyer, real estate agent, chiropractor, massage therapist or naturopath, you’ll benefit from Taylor Leibow’s proactive advice from wealth preservation to tax minimization.

Regardless of whether you’re a new practitioner or approaching retirement, we take the time to understand your personal and business goals, answer your questions and, ultimately, provide you with the best advice for your situation.

Benefits of Professional Corporations

Taylor Leibow LLP knows how most professionals can benefit from incorporating a business, including:

There are many additional advantages to utilizing a Professional Corporation that can positively impact you and your practice

Tax Deferral

Tax Deferral

  • Each year, you can leave excess income inside the corporation deferring taxes personally until you need the funds at a later date.

Tax Minimization

  • Income earned personally can be taxed at 53.53% whereas corporations can pay as low as a 12.2% tax rate.
  • When funds are ultimately withdrawn from the corporation, the professional is typically in a lower tax bracket than when they originally earned the funds thereby creating tax savings.
Tax Minimization
Insurance

Insurance

  • The rules around insurance are complex; however, depending on your circumstances, it can be beneficial to have certain policies held and paid within your corporation. The advantage is having premiums paid out of pre-tax income instead of personal after-tax income if the policies were held personally.

Testimonial

I am a physician who moved to Hamilton in 1996. In 2009 I became incorporated. Darren Salmond has worked on my file and is now my only accountant. I have received excellent advice and would recommend Darren and Taylor Leibow.

Dr Spratt MD, Dundas Ontario

Is Incorporation Right for You?

If you are thinking of incorporating your medical practice there are certain questions you should be asking yourself …

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What is a Corporation?

Now that you have decided to incorporate your medical practice, you need to know how a company operates and how it is different …

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Incorporation Process

In order to incorporate your medical practice, it is always advisable to obtain advice from a public accountant and lawyer as the process can become …

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Due Dates for Medical Professional Corporations

Now that your medical professional corporation is operating you must understand when certain tax filings are due …

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Contact Us

For any questions on Professional Corporations
we invite you to contact our Taylor Leibow service area leader.

Darren Salmond
DARREN SALMOND

dsalmond@taylorleibow.com

905-523-0000 ext 353
Darren’s Blog