Finance

The right outlook and approach can improve the way your office performs and how it receives payment for uninsured services

Incorporated physicians should take a closer look at Individual Pension Plans (IPPs). For those who would like to save more, on a tax-deferred basis, the IPP offers some advantages. If you are a physician older than 40 who earns more than $100,000 in income, establishing an IPP could be beneficial.

Best strategy depends on overall salary, available RRSP bonuses, income splitting options and individual preferences

Amount owing to the tax man will vary from practice to practice and specialty to specialty

Look for appropriate claims in travel, equipment, salaries, interest