Medical professionals
Accounting services for medical professionals
With John Gillani, CPA, you’ll gain a partner who understands the unique business and tax challenges your medical practice faces.
Resident, fellow, or salaried physician
You’re working hard to reach your goals. Our mission is to support you as you achieve them. This tax package starts with a consultation to understand your situation. Then, we plan your finances to enable you to maximize your available employment deductions. It’s the best way to set yourself up for future success.
Here’s what’s included:
- T1 Individual Income Tax Return
- Advice and guidance on eligible tax write-offs
- Ongoing accounting and business support to answer your questions throughout the year
Self-employed physician
If you’re earning income as a sole proprietor, we can make the most of your tax return. First, we meet to understand your setup and goals, and then we create a personalized plan to maximize your returns going forward. This tax package includes:
Here’s what’s included:
- T1 Business Income Tax Return
- Advice and guidance on eligible tax write-offs
- Ongoing accounting and business support to answer your questions throughout the year
Physician working in an incorporated structure
This complete package for incorporated medical professionals includes corporate and personal tax return preparation, annual financial statements, and tax and finalizing planning services. We engage in an ongoing personalized dialogue throughout your fiscal year to address tax deferral strategies, income splitting, and how to maximize corporate deductions.
Here’s what’s included:
- Setup of Medical Professional Corporation
- Registration of Medical Professional Corporation with the College of Physician and Surgeons of Alberta (CPSA)
- Annual renewal of Medical Professional Corporation with CPSA
- T1 Individual Income Tax Return
- T2 Corporate Income Tax Return
- Issuance of tax slips
- T4 (Employment)
- T5 (Dividends)
- Compilation of financial Information– CSRS-4200
- Advice and guidance on eligible tax write-offs
- Unlimited ongoing accounting and business support to answer your questions throughout the year
- Year-round representation with the CRA
Bookkeeping
Medical professionals are busy so staying on top of the books is understandably challenging. We’re here to take the burden of bookkeeping off your hands, meaning you can spend your time focusing on what’s important.
Here’s what’s included:
- Monthly bookkeeping
- Monthly reporting of trial balance & P&L
Medical practices have unique circumstances
Medical professionals like you work under widely varying circumstances. If you don’t see yourself reflected in the above scenarios, reach out to us to schedule a chat. We can develop custom medical accounting services packages suited to your needs. We’re happy to discuss how our accounting services for doctors in Toronto and Mississauga will help you maximize your income, grow your practice, and protect your wealth.
