Pro Business Tax
Accounting for Physicians & Medical Professional Corporations
From setting up your Medicine Professional Corporation chart of accounts, to reconciling bank accounts, to paying yourself efficiently and handling all things accounting, tax and CRA related — a CPA who understands how physicians actually earn and get taxed – and helping them keep more of their hard earned money.
Physicians face a specific set of tax questions: whether and when to incorporate, how to draw income tax-efficiently through salary and dividends, how to invest retained earnings inside the corporation, and how to stay onside with both the CRA. We handle the bookkeeping, corporate and personal tax, and year-round planning so you can focus on patient care.
Traditional bookkeepers who rely solely on bank statements, without intimate knowledge of gas station operations, often miss key details. These errors can materially overstate income and cost owners tens of thousands of dollars in unnecessary tax.
What We Handle
- Medicine Professional Corporation (MPC) setup & compliance
- Salary vs. dividend mix, reviewed every year
- Investing retained earnings & holding-company structures
- Corporate tax (T2) and personal (T1) tax
- Cross-border (Canada/US) tax coordination
- Incorporate-or-not analysis on your real numbers
Real Result — Ontario Physician
We brought a physician five years current on filings in four weeks — with no CRA audit or penalties. (See our Case Studies)
Get a Free Consult
If you're a physician running — or considering — a Medical Professional Corporation, and want to keep more of what you earn while staying CRA-compliant
Frequently Asked Questions
Often, once your income exceeds what you draw personally — incorporation enables tax deferral and income smoothing. We run your actual numbers before you commit.
Usually a mix. The right blend depends on RRSP room, CPP, and your cash needs — we review it every year.
Yes – both are allowed. However, to determine if your new admin is an employee or a subcontractor is a more nuanced discussion.
Yes — from residency into incorporation and beyond.