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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 #80: The Relevance & True Cost of CPP (Canada Pension Plan) for Small Business Owners - with Aravind Sithamparapillai
Today I welcome Aravind Sithamparapillai (MBA), who is an associate at Ironwood Wealth Management. Aravind is becoming known as a tax ninja - he breaks down complex topics nicely for listeners of all levels.
While the focus of this episode is meant to be CPP (Canada Pension Plan) & its relevance to business owners, we cover a lot of ground that includes salary vs dividends & tax basics.
Discussion Points:
Aravind's background (4:18)
The basics of tax integration (5:00)
Tax integration by province/territory (6:42)
Tax credit & deduction on the employee portion of CPP (9:16)
Employer portion of CPP - tax deductible (14:13)
What is the true cost of CPP? (16:30)
Understanding the dividend gross up & dividend tax credit (22:05)
Income based benefits that can be impacted by the dividend gross up (26:15)
CPP vs investing yourself in the corporation (31:13)
Salary + dividend vs salary only approach (39:10)
What about the IPP (41:35)
Other CPP benefits - disability, children, survivor (43:30)
Post call newsletter: https://postcall.ca/
Aravind:
- https://www.linkedin.com/in/sithamparapillai/
- aravind.sithamparapillai@ironwoodcanada.com
Yatin:
- Email: beyondmdpodcast@gmail.com
- LinkedIn: Yatin Chadha
Ways to support beyond MD:
- Amex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCP
- https://americanexpress.com/en-ca/referral/cobalt?ref=yATINCYEoc&XLINK=MYCP