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- Title
Tax Savings Strategies: What Every Dentist Needs to Know.
- Authors
Chong Yen, David
- Abstract
The article discusses the advantages of establishing a professional corporation in setting up a dental practice in Canada. An example is provided in which a dentist with typical family ties is evaluating options for maximizing tax deductions and savings. Provisions for income splitting among family shareholders, operational investments qualified for tax deferrals, and capital gains exemptions as well as deductible expenses are presented.
- Subjects
PROFESSIONAL corporations; PRACTICE of dentistry; FAMILY-owned business enterprises; TAX deductions; INCOME shifting (Taxation)
- Publication
Ontario Dentist, 2014, Vol 91, Issue 7, p28
- ISSN
0300-5275
- Publication type
Article