beyond MD with Dr. Yatin Chadha

I'm thrilled to host Ali Spinner, one of Canada's most trusted voices in tax, on the implications of the proposed hike in the capital gains inclusion rate. Discussion Points: - Tax 101 & What happened to the capital gains inclusion rate (0:55) - Numerical example with 100K capital gains (5:51) - Has tax integration been violated? Where should we hold certain assets like rental properties? (6:25) - Is it still worthwhile incorporating? (13:30) - A brief history of the capital gains inclusion rate (16:48) - What can investors do?: a) absolutely nothing (19:05) b) selling assets and impact of Alternative Minimum Tax/AMT & GAAR/General anti-avoidance rules (21:07) c) tax planning through insurance and pension plans (29:10) d) departure tax for those considering leaving Canada (32:05) - Change in Lifetime capital gains exemption/ LCGE, capital gains exemption for entrepreneurs (34:10) Yatin's Links: beyondmdpodcast@gmail.comYatin ChadhaAli Spinner: Alexandra.spinner@crowesoberman.com

I'm happy to have Dr. Kevin Mailo back on the show to discuss what he's learned from investing in real estate (RE) over the last 15 years. We talk about winners and laggards in the portfolio, property managers, challenges with direct ownership in RE, the importance of due diligence in private equity, & how critical it is to understand your "why" in investing. Physician Empowerment's Toronto conference occurs May 25-26 this year and you can save $100 using the discount code YATIN24 at: https://www.physempowerment.ca/live Discussion Points: - Kevin's reflections on his RE investing journey so far (4:09) - Property managers and cognitive overload (8:55) - Letting go of (challenging) properties & learnings (10:30) - Kevin's RE portfolio (13:06) - Characteristics of good RE investments in the portfolio, investing in Alberta (14:42) - Properties that haven't worked out, details on preconstruction condos (17:10) - Advice for those starting RE investing today (23:05) - Reflecting on how many properties to hold for retirement (27:10) - How does private equity investing work? (29:55) - Private equity and due diligence (33:34) - Private equity investment timelines & return types (36:68) - Public vs Private investment breakdown/rules of thumb (39:15) - Public REITs (40:08) - Goals for the next few decades (40:59) Links: Yatin's Links: beyondmdpodcast@gmail.comYatin ChadhaKevin's Links: https://www.physempowerment.ca/live

In this episode I sit down with Parish Bhumgara from Gardiner Roberts LLP to discuss corporate shareholder agreements (CSA). Discussion points: - Parish's background (2:05) - Corporate shareholder agreements/CSAs: what & when? (2:40) - CSAs: who should consider this? (3:45) - CSA structure (6:20) - CSA share types (8:05) - Key details to be outlined on a CSA (11:03) - Unanimous shareholder agreements (16:33) - Scenarios where CSAs really help (17:33) - Separate corporation to invest in Real Estate (19:52) - Corporations as a way to reduce liability (21:55) - Any disadvantages to CSAs? (23:30) - CSA set up (24:45) - CSA cost (25:05) - Transferring shares (27:18) This episode features Arya EHR - https://www.aryaehr.com/ **I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast :) Yatin: beyondmdpodcast@gmail.comYatin Chadha Parish:

Today I discuss some of my investments. There have been wins along with some subpar performances. I've also caught myself occasionally falling into common investing traps. Today I address it all and what I've learned from my experiences. Discussion points: - #1: focusing too much on price (4:46) - #2: the importance of understanding what you are investing in (9:48) - #3: sometimes it pays to take less drastic action (17:35) - #4: investing in the market at all time highs (25:54) Companies discussed: DIS, CVS, SIA.TO, NVDA ETFs: XAW.TO Links: Yatin's Links: beyondmdpodcast@gmail.comYatin Chadha

Today I welcome Kim GC Moody, one of our country's top tax experts, to discuss AMT (Alternative Minimum Tax) changes for 2024 & beyond and the potential implications for high income earners in Canada. The podcast has 3 segments: 1) AMT history & mechanics 2) AMT changes 3) AMT Scenarios Discussion Points: AMT basics (0:47) Table of contents (2:07) Kim Moody's bio (2:41) Intro (3:58) AMT intro, history, & mechanics (6:33) How are tax decisions made in Canada? (12:12) How has AMT changed in 2024? (15:45) Are more people leaving Canada due to excess tax? (20:00) AMT - there is a provincial part, no impact on corporations (24:32) Impact of AMT on capital gains (25:20) Impact of AMT on carrying forward capital losses (27:08) No impact on eligible dividends (27:55) Impact of AMT on lifetime capital gains exemption (28:35) Impact of AMT on charitable gifting (30:05) Impact of AMT on stock options (36:12) Impact of AMT on trusts (37:14) Impact of AMT on carrying forward interest charges for rental properties (38:00) AMT calculations for specific scenarios (39:34) What % of people will be impacted by AMT? (47:42) Closing remarks (50:15) Kim Moody: website: https://moodysprivateclient.com/ LinkedIn: https://www.linkedin.com/in/kimgcmoody/ email: kgcm@kimgcmoody.com Kim's podcast: https://kimgcmoody.podbean.com/ Yatin Chadha: beyondmdpodcast@gmail.com https://www.linkedin.com/in/yatin-chadha-29074b109/

I'm thrilled to host Dimitre Ranev, MD. Dimitre is a savvy mind when it comes to DIY investing. I've benefitted from his wisdom over the years & I'm excited to pick his brain on his investing approach today. This episode features Arya EHR - https://www.aryaehr.com/ **I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :) Discussion Points: Guest Introduction (3:13) An overview of Dimitre's portfolio & investing approach (8:30) Dimitre's process behind analyzing a company (12:54) Dividend investing - what to consider (16:58) Payout ratios, valuation, P/E ratio relative to historical norms (20:12) Investing during inflationary times (23:30) Time required to invest in individual companies (29:36) Behavioural tendencies, having the right investor psychology, minimizing irrational behaviour (30:44) The importance of rebalancing your portfolio (35:47) Financial considerations as we pivot from early to mid career (39:05) Dimitre's preferred resources for learning about investing (41:50) Rapid fire (47:25) Dimitre’s advice on building wealth (49:28) Dimitri’s Links: Yatin: beyondmdpodcast@gmail.comYatin Chadha

I'm thrilled to welcome back our colleague, Dr. Ketan Kulkarni, who is a pediatrician, coach, author, & entrepreneur. This is a fun and wide ranging interview. We discuss Ketan’s new book, Soar: A Soul's Quest (link below), what a rich & successful life means to us, how to stick to our core values, time management, financial needle movers, bringing out the best in our kids, & more. Discussion Points: Ketan’s new book, Soar (2:48) Lessons learned after writing 2 books (9:45) Tips for writing a book (15:34) Navigating through multiple interests, beating burnout, & establishing your metrics for success (18:12) Strategies for living a life aligned with your core values (21:54) Ketan's thoughts on seeking coaching & advice during the journey (24:25) Beating limiting thoughts & breaking through (26:20) Specializing vs thriving through multiple pursuits (28:38) Deep learning as a remedy for burnout (32:24) Time management hacks to live a balanced life (35:04) What financial practices have been most impactful for Ketan? (38:35) Parenting & bringing out the best in your kids (43:57) Favourite books (49:40) Ketan’s Links ● Soar: A Soul's Quest by Ketan Kulkarni, Christopher Morris, and Francis Yoo ● The Legendary Quest: ForProfessionals Seeking Inner and Outer Excellence and Authentic Fulfillment by Dr. Ketan Kulkarni and Dr. Francis Yoo ● Limitless Expanded Edition Upgrade Your Brain, Learn Anything Faster, and Unlock Your Exceptional Life by Jim Kwik ● The 5AM Club: Own Your Morning. Elevate Your Life by Robin Sharma ● The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company by Robert Iger Yatin: ● E-mail: beyondmdpodcast@gmail.com ● LinkedIn: Yatin Chadha

Thanks for tuning in to part 2 of multiple streams of income with Dr. Stephanie Zhou. One thing I hope people can take away from these interviews is that it's possible for many of us build a diverse and rewarding career....the multiple streams of income is the cherry on top. Discussion Points: Getting paid to offer advice in your area of expertise (0:37) Steph's approach to venture capital (6:08) Income through traditional investments (12:52) Income potential through social media (16:05) Exploring the distinctions between podcasting and YouTube in terms of monetization (19:35) Real estate investments and their relationship to a potential recession (22:40) Physician Financial Wellness Conference (26:46) Stephanie Zhou: •Stephanie’s Instagram •Stephanie’s LinkedIn •Stephanie’s Youtube Channel •HaloHealth My Links: •LinkedIn: Yatin Chadha

Join Dr. Stephanie Zhou in today's episode as she dives into her diverse career and the streams of income that come with it. Dr. Steph specializes in addictions medicine at Sunnybrook Hospital, leads the Financial Literacy Curriculum at the University of Toronto, started the annual Physician Financial Wellness Conference, and was recognized among Canada's 100 most influential women in 2022. Tune in for an insightful conversation on multiple streams of income! Discussion Points: The different types of income streams (4:30) How Dr. Steph’s practice is structured and the various streams of income that comes within it (6:37) Does doing a variety of things lead to burnout or sustenance? (12:37) Doing non-destructive focused work (13:24) How admin work gives you time and geographical freedom (19:23) Asking professional compensation when getting invited to speak in talks and conferences (20:13) Managing your time (24:00) How income works in board memberships (27:10) Stephanie Zhou: •Stephanie’s Instagram •Stephanie’s LinkedIn •Stephanie’s Youtube Channel •Thinking Fast and Slow by Daniel Kahneman •Deep Work by Cal Newport My Links: •E-mail: beyondmdpodcast@gmail.com •LinkedIn: Yatin Chadha

Hello all! We decided to add a few details to Part 4 on Permanent Life Insurance with Jeff Bernstein (CLU, MFA-P). While some may elect to cancel policies, there are also options for navigating policies without fully exiting, which are covered here in a quick summary: 1. APL (Automatic Premium Loan) 2. RPU (Reduced Paid-Up Option) 3. Premium Offset beyondmdpodcast@gmail.com jeffbernstein@seligman.ca

Thank you for joining me on the final segment of permanent life insurance with Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance. Discussion Points: - The White Coat Investor & permanent life insurance (1:26) - Who can benefit from permanent life insurance? (3:44) - Commissions on permanent life insurance (8:14) - How do commissions impact your policy? (19:18) - Exit strategies, Canceling a policy (22:15) - Closing remarks (25:51) This episode features Arya EHR - https://www.aryaehr.com/ **I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :) Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca https://seligman.ca/ My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com

Welcome to Part 3 of Permanent Life Insurance with Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance. Discussion Points: Summary of the death benefit (0:58) Permanent life policies for the kids? (2:58) Corporate Insurance Retirement Plan (6:10) Infinite banking/being your own banker (beware) (18:50) Immediate Financing Arrangement (IFA) (29:17) Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca https://seligman.ca/ My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com

Welcome to Part 2 of Permanent Life Insurance with Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance. Discussion points: PAR Whole life investments (2:05) PAR fund performance, dividend scales (5:51) PAR fund actuarial assumptions (9:45) Performance headwinds/tailwinds, dividend smoothing (14:55) Open and closed policy blocks (19:08) Illustrations: what we need to know (23:45) Permanent life insurance as an asset class (31:10) Universal life investments and costs (35:30) Non-participating WL vs PAR (41:55) Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca https://seligman.ca/ My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com

It's finally time to tackle permanent life insurance with a series of episodes. I'm thrilled to host Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance as we do a deep dive on this topic. Discussion points: Jeff's background (5:57) What is permanent insurance? (9:30) Considerations for permanent life (12:30) Core concepts: adjusted cost basis & capital dividend account/CDA (16:35) Types of permanent life insurance: Universal Life (UL), Whole-life (WL) (24:35) Participating vs non-participating whole life insurance (27:07) Understanding key policy components: death benefit & cash surrender value (31:35)) Permanent life policy funding timelines: does it make a difference? (33:57) Policy structure: growth vs estate oriented (37:49) Can term life be converted to permanent life? (40:28) This episode features Arya EHR - https://www.aryaehr.com/ **I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :) Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com

In this episode I welcome Rounak Langhe, MBA, CFA, founder of Durham Asset Management. Rounak is an expert in fixed income investing. The aim of the this episode is to cover the fundamentals of bonds. Discussion Points: - Rounak's background (3:35) - what is a bond? Understanding the the 3 C's & coupon rate, maturity, and payment dates (8:40) - overview of bond types: government, corporate, junk/high-yield & bond rating agencies (13:04) - lower risk for higher yields in the bond market today? (19:24) - main determinants of bond yields, yield curves (21:00) - basic bond math, impact on future bond prices (22:47) - investing in bonds when rates have (hopefully!) peaked (26:38) - why have bonds into your portfolio? (28:02) - ways to invest in bonds - individual holdings vs ETFs vs mutual funds, fees (30:24) - Canadian bond universe ETF composition (34:10) - bond ETF fact sheets (36:29) - is the 10 year US treasury yield a good marker for yields over the next 10 years? (38:18) - closing thoughts (39:52) Check out the postcall newsletter: https://postcall.ca/subscribe Mark Soth's article on bonds in a professional corporation: https://www.looniedoctor.ca/2023/10/13/bond-etf-corporation/?fbclid=IwAR2KfvzLFPCQ9BdV5dyOSG7j2E_gNtixfWkPZTjC6nIyS7gfLizXvpf-sco Yatin's Links: beyondmdpodcast@gmail.com

This episode provides a deep dive into donor advised funds, a lesser known philanthropic strategy. I'm happy to have Mark Halpern, CEO of WealthInsurance.com back on the pod. Discussion points: - what is a donor advised fund/DAF (5:23) - what can flow into a DAF? (8:23) - transferring appreciated corporate securities to a DAF (11:50) - rules around tax deductions on (DAF) contributions (15:32) - others contributing to your DAF (17:10) - DAF contribution rules (18:39) - setting up a DAF (22:30) - investments inside a DAF (23:20) - DAF investment management fees (25:10) - Slecting charities, money flowing out from a DAF (27:43) - any DAF cons? DAF vs Private Foundations (30:43) - more on private foundations (33:45) - charitable gift annuities (35:42) Mark's Links: website: https://wealthinsurance.com/ email: mark@wealthinsurance.com LinkedIn: https://www.linkedin.com/in/markhalperncfptepmfap/ Samples from Mark's Monthly Tax Letter: https://wealthinsurance.com/webdoc/TaxLetter-Seven-Defensive-Strategies.pdf https://wealthinsurance.com/webdoc/TaxLetter-Preserve-Your-Wealth.pdf https://wealthinsurance.com/webdoc/TaxLetter-Accidental-Philanthropy.pdf List of all Tax Letter Publications: https://docs.google.com/document/d/1hNhZ7CSeOr2NBNdwZXCs6nL5gsRZb1Eisht_D5JxfeY/edit Yatin's Links: beyondmdpodcast@gmail.com https://www.linkedin.com/in/yatin-chadha-29074b109/ Physician Financial Wellness Conference: https://www.physiciansficonference.com/

Today I host Ricky Zhang, founder of the Prince of Travel. This is a deep dive on understanding & optimizing travel rewards so that we can travel the world by spending less! Discussion Points: Ricky's background & the origin of Prince of Travel (3:45) How does the points system work? (7:07) Earning points rapidly through credit cards (11:14) Credit score fundamentals (19:07) Should we keep our credit cards for the long term? (22:40) The credit card game isn't for everyone - who should avoid it? (26:54) Other ways to rack up points at a faster pace (31:40) The best credit card for Canadians: Amex Cobalt (32:47) Credit cards for small business owners, why Amex points are so versatile (33:45) Understanding the RBC Avion point system (37:04) Redeeming points efficiently, dynamic pricing, ideal booking windows (39:47) Example of redeeming points - Toronto to Portugal (45:26) Prince of Travel Concierge services (50:07) Aeroplan elite status (52:15) How to get started (53:40) Rapid fire, including a strong credit card portfolio (55:19) How many credit cards does Ricky have? (58:58) Closing thoughts (60:20) Credit card links (cards I use & benefit from): Amex Business Platinum: https://americanexpress.com/en-ca/referral/yATINC4uFw?XLINK=MYCP Amex Cobalt: https://americanexpress.com/en-ca/referral/yATINCwb0U?CPID=999999538 Social media links & email: Yatin: beyondmdpodcast@gmail.com https://www.linkedin.com/in/yatin-chadha-29074b109/ Ricky: https://princeoftravel.com/ https://www.youtube.com/@PrinceofTravel

Thank you for joining me for part 2 with the Loonie Doctor (Dr. Mark Soth). Discussion points: - summary of sources of corporate tax drag (1:44) - how does Mark invest his own money? (3:55) - optimal salary & dividend mix (6:39) - Mark's view on individual pension plans/IPPs (8:42) - What's moved the needle most for Mark? (11:29) - Decumulation overview (13:19) - Lessons for the kids (17:10) - Closing thoughts (19:29) Mark's blog: https://www.looniedoctor.ca/ My links: beyondmdpodcast@gmail.com https://www.linkedin.com/in/yatin-chadha-29074b109/

Due to popular demand, finally overcoming my procrastination, and finally getting more comfortable with my knowledge base, I am thrilled to welcome Dr. Mark Soth (aka The Loonie Doctor) to beyond MD. This is corporate tax and corporate investment optimization 101. Discussion Points: The mission behind the Loonie Doctor Blog (2:41) Mark's evolution (6:17) Corporation taxation basics (8:29) What are the main advantages of incorporating? (10:46) RDTOH basics (12:45) Canadian/eligible dividends earned through the corporation - should we pay these dividends out to ourselves (15:29)? Overview of passive income rules (19:15) GRIP/General Rate Income Pool (21:30) ON and NB are different with the passive income rules (22:57)) Capital gains harvest & the capital dividend account/CDA (27:16) Mark's blog: https://www.looniedoctor.ca/ My links: beyondmdpodcast@gmail.com https://www.linkedin.com/in/yatin-chadha-29074b109/

Today I sit down with Dr. Michael Fralick, who is a Clinician-Scientist at the University of Toronto to talk about locuming as a physician. Mike and his brother, John Fralick, host the Rounds Table podcast, bringing summaries of the most relevant randomized controlled trials to practicing physicians. Table of Contents: My opinion on the benefits of locuming (0:48) Dr. Mike Fralick's background (4:37) Mike's experiences locuming to date (5:45) Where to locum, how to sign up for locums (7:48) The motivation behind locuming (9:38) The key benefits of locuming (11:03) Time & geographical freedom through locuming? (14:34) The key negatives/challenges of locuming (16:05) Finances of locuming (19:16) Billing on locums (22:08) What expenses are covered on a locum? (23:39) Tax implications for some academic physicians (24:18) Locum contracts (26:09) Mike's "Rounds Table" podcast, elective for residents in Sue St. Marie (27:36) Mike's Links: https://healthydebate.ca/special-series/podcasts/ https://twitter.com/FralickMike Yatin's Links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com beyondmdpodcast.com https://www.youtube.com/watch?v=yAEU2ElLq70