Practice Resources

Incorporating a Medical Practice

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The pros and cons of incorporating a medical practice are discussed in this lesson, with examples of how incorporation can benefit you.

There’s information on the differences between salary and dividend, and the impact of choosing one versus the other or a combination of both.

There’s an overview of the Medical Professional Incorporations Act in Nova Scotia, and the step-by-step process on how to incorporate your medical practice.

Key Points

  • Salary and dividends
  • Medical Professional Incorporations Act
  • Steps to incorporation
  • Paying lower taxes
  • Set up costs