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- Title
Professional Corporations and the Capital Gains Exemption.
- Authors
McMillan, John; Chan, Andrea
- Abstract
This article focuses on how to shelter gains from taxes when selling the shares of a practice. The authors cite an example of how much could be saved on taxes from the sale of a dental practice worth 1 million dollars. They state that if the sale were a share sale and both the practitioner and his or her spouse are eligible for capital gains exemption, they would save up to 322,000 dollars in payable taxes. Tables comparing payable taxes on asset sales and share sales are also presented.
- Subjects
TAX shelters; CAPITAL gains tax; PRACTICE of dentistry; STOCKS (Finance); SALE of business enterprises
- Publication
Ontario Dentist, 2009, Vol 86, Issue 9, p30
- ISSN
0300-5275
- Publication type
Article