Dividends vs. salary

By incorporating your practice, you become both a shareholder and an employee of your corporation. As a shareholder, you could take out dividends from your corporation and as an employee, you could receive a salary. 

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Depending on your short and long term plans, as well as your yearly financial situation, your accountant will evaluate which of these two forms of remuneration is the best for saving taxes and in what proportions.

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Incorporation allows you to have the flexibility to benefit from various tax saving strategies at different stages of your career and personal life.