Resources

Make extra money during residency with medical moonlighting

Resident physicians can earn extra income by medical moonlighting — providing extra clinical services outside of their residency training program. Learn more.

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Financial planning 101: Start here

Do your finances feel out of control? Start here. Choose just one thing from our list, make a commitment, and look forward to financial peace of mind.

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Can residents get less tax (or more) taken off their paycheque?

What medical residents need to know about TD1 forms

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Tax tips for resident physicians

As a medical resident in Canada, learn which tax credits, deductions and government benefit programs you may be eligible for during your residency.

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What are some tax tips for physicians?

Learn which tax credits, deductions and government benefit programs you might be eligible for as a practising physician in Canada.

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How do tax instalment payments work for physicians?

If you are a self-employed physician, you will need to pay your taxes in quarterly instalments. Here’s how to figure out what you owe.

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Our physician household owes taxes — now what?

It’s not uncommon for physicians to receive a large tax hit early in their practice. Here’s why it can happen and how to avoid getting caught off guard at tax time.

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Med student line of credit: What happens after graduation?

Here’s what you need to know about paying off your student line of credit after finishing residency.

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How to boost your credit score: A primer

Credit scores don’t have to be a mystery. When you understand how credit scores work, you can set yourself up for a bright financial future.

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TFSAs: Tackling your most frequently asked questions

Tax-free savings accounts were designed to help Canadians save better. Learn about the requirements and many benefits of owning a TFSA with our handy guide.

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5 common questions about life insurance

Find the answers to five common questions about life insurance here, and learn why you might want to make life insurance part of your estate plan.

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What expenses should I prep for when transitioning to practice?

As you transition from residency to practice, your financial situation is about to change. Here are some expenses that you may not have thought about.

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How does medical practice incorporation work?

Wondering if you should incorporate your medical practice? Here’s everything you need to know about incorporating in Canada.

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Should I join a practice or start my own?

Whether to go solo or join a group practice is an important decision for new physicians to make. Here’s a look at the pros and cons of each business model.

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Should I incorporate my medical practice?

Every self-employed physician should ask themselves these questions to help decide whether to incorporate their medical practice. Get started.

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What are the benefits of incorporating my practice?

What are the advantages and disadvantages of incorporation? Why do some doctors incorporate and others don’t? Learn more.

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How does incorporating help with taxes?

The tax deferral advantage of incorporating is explained in detail.

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How do I pay myself from my corporation?

When you incorporate your medical practice, you can draw your compensation as a salary, dividends, or a combination of the two. Learn the reasons for each.

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Should you consider an individual pension plan?

Incorporated physicians can use an individual pension plan (IPP) to reduce taxes and save for retirement

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How do I start saving money?

Here are 4 common barriers that prevent resident physician households from saving money — and an easy way for you to overcome each one.

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