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beyond MD with Dr. Yatin Chadha
beyond MD bridges the gap between medical training and financial literacy.
Led by mid-career Canadian radiologist, Yatin Chadha, beyond MD empowers practicing physicians, medical trainees, and other professionals to build confidence and clarity around money.
Episodes feature interviews with subject experts to help listeners gain knowledge around topics like professional corporations, investing, insurance, pensions, real estate, trusts, and estate planning.
Yatin also frequently interviews his own colleagues to shed light on valuable life and money lessons learned over time.
Tune in to beyond MD (episodes are bi-weekly) to build your financial acumen and live your best life today.
beyond MD with Dr. Yatin Chadha
Ep #98 - Death and Taxes for Incorporated Professionals in Canada - with Mehul Gandhi, CFP, CLU, TEP
Today I welcome Mehul Gandhi (CFP, TEP, CLU) from Westmount Wealth to discuss death & taxes for incorporated small business owners in Canada.
The episode is broken down into 3 parts:
- the layers of tax facing the estate upon death of an incorporated professional
- strategies to mitigate the tax hit
- who can help us & the importance of updating our wills
Discussion points:
Introduction (3:05)
The layers of tax on one's estate after an incorporated business owner passes away (6:08)
How much tax can our estate face with no planning? (18:00)
Estate freezes (19:18)
First post mortem tax reduction strategy - loss carryback (22:03)
Pipeline strategy (24:34)
Why it's important to keep our wills updated (27:30)
Corporate share structure (30:24)
Insurance to navigate illiquidity challenges (35:42)
Who needs a holding company? (40:32)
Tax reduction with proper planning - how much? (43:04)
Help us with estate planning - who? (45:05)
Closing thoughts (47:45)
Mehul Gandhi
https://www.linkedin.com/in/mehulgandhicfp/
https://www.westmountwealth.com/
Yatin Chadha
beyond Radiology:
https://beyondradiology.thinkific.com/products/courses/ct-head-interpretation-course
https://beyondradiology.thinkific.com/courses/master-ct-head-interpretation-course
Email: beyondmdpodcast@gmail.com
LinkedIn: Yatin Chadha