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.
More Like This...
See another CRM2 blog post that may be of interest to you.
CRM2: The Nexus Approach to our CRM2 Reports
Topic:
CRM2
Excerpt:
With changing securities regulations coming into effect, investment firms are now required to provide individual investors with specific additional in
More Like This...
See another Foundations & Endowments blog post that may be of interest to you.
Charitable Giving Made Easier
Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and
More Like This...
See another Human Interest blog post that may be of interest to you.
To Insure Promptitude
Topic:
Human Interest
Excerpt:
Historically, tips were a monetary translation of either “thank you” or “sorry”.
More Like This...
See another Inside Nexus blog post that may be of interest to you.
Understanding Pride: A Timeless Celebration
Topic:
Inside Nexus
Excerpt:
In today’s world, the concept of Pride has become a celebration embraced by people of all ages and backgrounds.
More Like This...
See another Investments blog post that may be of interest to you.
For Those in Peril on the Sea: Income vs. Capital
Topic:
Investments
Excerpt:
When it comes to investing, a blinkered focus on income, especially when animated by a requirement to generate an unnaturally high level of income,
More Like This...
See another Pearls of Wisdom blog post that may be of interest to you.
The Joy of Doing Nothing Together!
Topic:
Pearls of Wisdom
Excerpt:
Life seems to be a never-ending balancing act, doesn't it?
More Like This...
See another Tax Planning blog post that may be of interest to you.
You May Have a Trust and Not Even Know It
Topic:
Tax Planning
Excerpt:
There is a significant change this tax season as additional reporting requirements have been introduced for trusts and bare trusts.
More Like This...
See another Wealth Planning blog post that may be of interest to you.
Conquer Your Middle-Aged Money Worries: Why Now’s the Perfect Time to Plan for Retirement
Topic:
Wealth Planning
Excerpt:
One of the benefits of an exciting life development, like changing jobs, is having an excuse to make the time to catch up with old friends and
On a Side Note…
See another CRM2 Nexus Notes Quarterly article that may be of interest to you.
No posts found.
On a Side Note…
See another Foundations & Endowments Nexus Notes Quarterly article that may be of interest to you.
Charitable Giving Made Easier
Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and
On a Side Note…
See another Human Interest Nexus Notes Quarterly article that may be of interest to you.
Worth a Thousand Words… J2025
Topic:
Human Interest
Excerpt:
A little humour makes the world a better place.
On a Side Note…
See another Inside Nexus Nexus Notes Quarterly article that may be of interest to you.
Understanding Pride: A Timeless Celebration
Topic:
Inside Nexus
Excerpt:
In today’s world, the concept of Pride has become a celebration embraced by people of all ages and backgrounds.
On a Side Note…
See another Investments Nexus Notes Quarterly article that may be of interest to you.
For Those in Peril on the Sea: Income vs. Capital
Topic:
Investments
Excerpt:
When it comes to investing, a blinkered focus on income, especially when animated by a requirement to generate an unnaturally high level of income,
On a Side Note…
See another Pearls of Wisdom Nexus Notes Quarterly article that may be of interest to you.
Houston, We May Not Have a Problem
Topic:
Pearls of Wisdom
Excerpt:
Last year, I finally had the opportunity to visit the Kennedy Space Center in Florida, a place I dreamed about visiting when I was 10.
On a Side Note…
See another Tax Planning Nexus Notes Quarterly article that may be of interest to you.
You May Have a Trust and Not Even Know It
Topic:
Tax Planning
Excerpt:
There is a significant change this tax season as additional reporting requirements have been introduced for trusts and bare trusts.
On a Side Note…
See another Wealth Planning Nexus Notes Quarterly article that may be of interest to you.
Conquer Your Middle-Aged Money Worries: Why Now’s the Perfect Time to Plan for Retirement
Topic:
Wealth Planning
Excerpt:
One of the benefits of an exciting life development, like changing jobs, is having an excuse to make the time to catch up with old friends and