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Medical Practice Incorporation

Important Notice: Professional medical corporation information on MD's web site is based on existing incorporation rules which may be impacted by proposals announced in the Department of Finance's policy paper entitled "Tax Planning Using Private Corporations." MD is monitoring these proposals and we will update our tax planning strategies accordingly should rules change. For more details, please read MD's blog Tax Planning Using Private Corporations, What's Next: A Summary of Finance Announcements.

Benefits and opportunities

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

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.

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.

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.

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.

The information contained in this document is not intended to offer foreign or domestic taxation, legal, accounting or similar professional advice, nor is it intended to replace the advice of independent tax, accounting or legal professionals. Incorporation guidance is limited to asset allocation and integrating corporate entities into financial plans and wealth strategies. Any tax-related information is applicable to Canadian residents only and is in accordance with current Canadian tax law including judicial and administrative interpretation. The information and strategies presented here may not be suitable for U.S. persons (citizens, residents or green card holders) or non-residents of Canada, or for situations involving such individuals. Employees of the MD Group of Companies are not authorized to make any determination of a client’s U.S. status or tax filing obligations, whether foreign or domestic. The MD ExO® service provides financial products and guidance to clients, delivered through the MD Group of Companies (MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited). For a detailed list of these companies, visit md.cma.ca. MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. MD Financial Management Inc. is owned by the Canadian Medical Association.