Financial Planning for Incorporated Professionals


Financial Advice for Incorporated Professionals 

Financial advice for incorporated professionals is often two-sided- advice for the practice and personal financial advice.  A few things to keep in mind for professionals are:

Professionals are typically in the highest income tax bracket; therefore, incorporating your practice can help manage and defer taxes at a lower corporate tax rate.

By incorporating- professionals can access dividends from their corporation, shareholder loans, and corporately held life insurance, and since money can be left inside a corporation- this money can be used in years when there are life changes such as pregnancy, buying a home or retirement.

Professionals should also ensure that they have access to health benefits.

Debt for a professional is not unusual, given the costs of education and equipment. Therefore, working with us and your accountant can help you find a way to balance your cash flow.

    Why do you need Financial Advice?

    • Worry less about money and gain control.
    • Organize your finances.
    • Prioritize your goals.
    • Focus on the big picture.
    • Save money to reach your goals.

    For an incorporated professional, personal and practice finances are connected. Therefore, both sides should be addressed: Personal and Practice.

    What does Financial Advice for an Incorporated Professional include?

    There are two main sides your practice’s financial plan should address: Growth and Preservation


    • Cash Management- Managing Cash & Debt
    • Tax Advice- Finding tax efficiencies
    • Health Benefits


    • Investment- either back into the business or outside of the business
    • Insurance Planning/Risk Management
    • Retirement Planning

      What does Personal Financial Advice include?

      There are two main sides your financial plan should address: Accumulation and Protection


          • Cash Management – Savings and Debt
          • Tax Advice
          • Investments


          • Insurance Planning
          • Health Insurance
          • Estate Planning

      Next steps…

       Talk to us about helping you get your finances to achieve your lifestyle and financial goals.

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