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Medical Practice Incorporation

Benefits and Opportunities

Important notice: Some of the content included on this page may no longer be current due to proposals announced in the 2016 federal budget on March 22, 2016. MD is monitoring these proposals and will update content in due course. To learn how the 2016 federal budget may affect you, please read MD’s budget summary. If you have questions about how you or your financial plan may be affected, please contact your MD Advisor.

MD is the only wealth management firm that delivers medical practice incorporation advice engineered exclusively for physicians.

  • Over 250-plus advisors who can provide guidance to help you make key decisions
  • Best practices that have produced powerful results for incorporated physicians since 1976
  • A firm trusted by over 43,000 physicians with billions in corporate assets

Incorporation – The MD Approach

Mike Gassewitz, MD’s Executive Vice President for Member Solutions, and Lowell Thiessen, MD’s Wealth Planning Support Lead, discuss the advantages of incorporation. They consider a few frequently asked questions, then go over several scenarios in which MD has provided incorporation advice tailored to a physician’s particular situation.

MD Quick Clinics

Video: Why incorporate your medical practice?

Should I Incorporate My Medical Practice?

For a significant majority of physicians, is the answer is “yes.” For the rest, the answer is either "no" or "not right now." The benefits of medical practice incorporation really centre on tax: both deferring it and reducing it. However, there are some financial planning considerations—some that can make incorporation a bad idea, and some that can make it particularly beneficial.

Video: Salary Or Dividends?

Salary Or Dividends?

One of the great things about medical practice incorporation is flexibility when it comes to compensation. When you’re self-employed, you have no flexibility—all the net income from your practice is taxed at your full marginal rate. When you incorporate, you get to make some choices, and the optimal choice is usually some combination of salary and dividends. It’s rarely an either/or situation.

Video: Incorporated? Here’s How To Invest

Incorporated? Here’s How To Invest

How should you invest? There are as many different answers as there are incorporated physicians. In this six-minute video we first cover a few investment basics. Then we look at some of the types of investment accounts you might have in your life—including your corporate account. And finally, we offer some ideas about how to make it all fit together.

Video: Retirement Income Options For Incorporated Physicians

Retirement Income Options For Incorporated Physicians

How do you set yourself up to have comfortable retirement income? It’s all about having a customized plan. Even if your retirement is still many years away, an MD Advisor can lay the foundation for that plan today.

Video: Estate Planning Considerations For Incorporated Physicians

Estate Planning Considerations For Incorporated Physicians

An estate plan means a lot more than just having a Will. It’s also about strategies that you can put into place and evolve throughout your lifetime. How do you approach estate planning as an incorporated physician? It’s all about surrounding yourself with the right team of experts. And the person who should be leading that team is an MD Advisor.

Contact an MD Advisor

Talk to an MD Advisor today for all your financial and practice needs.

Expert advice

Wealth management strategies

Most physicians who incorporate their practice do so primarily for the tax advantages. Once the decision to incorporate has been made, however, there are additional strategies that can help you to derive more value from that decision.

Estate planning and your corporation

Incorporation adds a level of complexity to estate planning, so you’ll need to take certain steps to ensure that the Canada Revenue Agency isn’t inadvertently a chief beneficiary of your estate.

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