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Post Mortem Planning for Doctor Jimmy to avoid Triple Taxation!

by Munish Mehan | Dec 13, 2022 | Uncategorized

Doctor Jimmy is a single parent, who owns a professional corporation worth FMV of $ 3 million and an ACB of $0. He also has $900,000 in investments worth $3 million. After his death, there could be three layers of taxes. 1. A $3 million capital gain subject to...

Everything about the RRSP (Registered Retirement Savings Plan)..

by Munish Mehan | Dec 12, 2022 | Uncategorized

P (Registered Retirement Savings Plan) It allows a taxpayer to invest his money on a tax-deferred and tax-deductible basis at the same time. However, the income withdrawn from the plan is taxable. To make a contribution towards an RRSP account one must have the room...

How the Interest income or a GIC is taxed inside a private corporation?

by Munish Mehan | Nov 16, 2022 | Uncategorized

How does the Interest income get taxed inside a corporation? Having a GIC or interest genreating income inside a  corporation is always a great idea. The simple reason is taxation. Before we jump into taxation of interest income inside a corporation, one should also...

Should you incorporate your medical or Dental practice?

by Munish Mehan | Nov 12, 2022 | Uncategorized

In general, incorporation is a good idea when your expenses are a lot lesser than your income. However, physicians face a lot of educational and internship issues before they begin practicing professionally, and on top of that, they go through financial hardships....

Corporately owned Life Insurance Policy & Capital Dividend Account

by Munish Mehan | Oct 29, 2022 | Uncategorized

  Interestingly, ITA doesn’t say that Life insurance is tax-free, and it’s due to the reason that ITA is an act of inclusion and lists everything that’s taxable.  If you are incorporated and planning to buy life insurance, then it would be beneficial to...

How our services can help to improve your Financial situation?

by Munish Mehan | Oct 18, 2022 | Uncategorized

Our clients bring us their jobs and their pains. We solve those problems and deliver the benefits in a humane, honest, and comprehensive manner. First we look at the Jobs: Jobs could be your goals, needs, and priorities. Saving for your child’s education; saving...
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Recent Posts

  • Post Mortem Planning for Doctor Jimmy to avoid Triple Taxation!
  • Everything about the RRSP (Registered Retirement Savings Plan)..
  • How the Interest income or a GIC is taxed inside a private corporation?
  • Should you incorporate your medical or Dental practice?
  • Corporately owned Life Insurance Policy & Capital Dividend Account

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Munish Mehan, CFP, CLU

T: 1 (587) 718-8001

E: info@financialadvise.ca

A: Suite 108 – 2635 37 Ave NE
     Calgary AB
     T1Y 5Z6

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I help incorporated professionals manage their financial situations and plan for their future. My goal is to help my clients retire with confidence and leave a legacy for their children and grandchildren. 

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