As we step into 2024, the Canada Revenue Agency (CRA) has introduced a notable change in its prescribed interest rates, now standing at a robust 10% for overdue taxes. This level hasn't been witnessed in over two decades. It's essential for medical professionals to grasp the implications of this update on their financial planning [...]
As medical professionals in Canada, managing finances efficiently is as crucial as caring for your patients. Often, tax planning is relegated to a few weeks before deadlines, but this approach might limit the potential benefits you could reap from a year-round strategy. The Importance of Year-Round Tax Planning Continuous Assessment: Much like a patient’s [...]
In today's ever-changing economic landscape, medical professionals across Ontario and Canada are confronted with distinct financial hurdles. The recent uptick in inflation and the variability of interest rates have widespread effects, notably in the realm of financial planning. Imperial Lifestyle Management, as your trusted financial navigator, aims to illuminate how these economic shifts influence [...]
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