The Advantages of a Professional Corporation
Topic: Wealth Planning
August 31, 2016
Image used with permission: iStock/dolgachov
The Advantages of a Professional Corporation
One of the benefits of a career that allows an individual to establish a Professional Corporation (PC) is the tax advantages that come along with it.
Professional income retained inside a PC is subject to significantly lower tax rates than if earned personally. It also offers the potential to split income with family members. Depending on provincial and territorial legislation, professionals such as accountants, physicians, lawyers and dentists are eligible to set up a PC and take advantage of tax-savings benefits.
To learn more about PCs and if they’re right for you, click here for Nexus’s recently published white paper.
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