🩺 Doctor Fiscal Planner
Strategic income planning for incorporated physicians in Canada
Planning Parameters
🚀 Advanced Tax Strategies
Beta access to premium features for comprehensive tax planning
Unlock advanced tax deductions and strategies to see how much more you could save:
Advanced features include:
- • Business loan interest optimization
- • Vehicle expense writeoff strategies
- • Home office deduction calculations
- • Professional membership tax benefits
- • Insurance premium deductions
Net Annual Income
Total Tax Liability
RRSP Contributions
$27,450
Effective Tax Rate
Monthly Payment Schedule
Strategic breakdown of salary vs dividend payments throughout the year
← Scroll horizontally to see all columns
| Month | Salary | Dividends | RRSP | PHSP | Overhead | Tax | Net Income |
|---|---|---|---|---|---|---|---|
Jan | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Feb | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Mar | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Apr | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
May | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Jun | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
JulCurrent | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Aug | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Sep | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Oct | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Nov | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 | |
Dec | $12,708 | $12,708 | $2,288 | $1,017 | $3,750 | $2,548 |
Strategic Insights
Optimized RRSP Usage
Using $27,450 of $63,000 available room
PHSP Maximization
Annual PHSP expenses: $12,200
Overhead Management
Annual overhead: $45,000 (12.9% of revenue)
Income Split Strategy
Balanced approach for steady tax efficiency
Tax Calculation Method
Progressive Tax Brackets: Personal tax rates increase with income levels
Dividend Tax Credits: Dividends are grossed up 38% then receive tax credits
Effective Rates: Your actual tax rate varies based on income composition
Click on result values above to see detailed calculations
Next Quarter Recommendations
- • Review RRSP contribution timing
- • Consider PHSP expense optimization
- • Evaluate dividend declaration timing
- • Plan for year-end tax installments
- • Monitor overhead expense ratios
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