CPA-led accountants in Ontario
T2 corporate returns and Medicine Professional Corporation (MPC) tax planning for physicians and specialists across Ontario.
Talk to an accountant(647) 527-4970Physician income does not fit a standard T4 template, and neither does the tax planning around it. Whether you bill through OHIP as a sole proprietor, split costs in a group practice, or already operate a Medicine Professional Corporation, we help physicians across Toronto and the GTA structure their income efficiently and stay fully compliant with the CRA.
Most accountants treat every client the same. We do not. Physician income mixes OHIP billings, alternate funding arrangements, hospital stipends and sometimes cosmetic or uninsured services that carry different HST treatment, and a generalist accountant will often miss the distinction.
We know how to structure salary versus dividends inside an MPC, how cost-sharing arrangements in a group practice should be booked, and when a holding company actually helps versus when it adds cost without benefit.
Full preparation and filing of your Medicine Professional Corporation's tax return, done accurately and on time so you avoid penalties and unnecessary CRA attention.
We walk you through whether and when incorporating as a Medicine Professional Corporation makes sense, based on your billings, expenses and long term goals.
Most medical services are HST-exempt, but cosmetic and other uninsured services are not. We review your billing mix and make sure HST is charged and remitted correctly where it applies.
We review your personal cash needs against your corporation's retained earnings and recommend a salary and dividend mix that minimizes your overall tax bill.
Overhead cost-sharing, locum coverage and hospital stipends all need to be booked correctly. We keep your practice's books clean and reconciled.
We file electronically well ahead of your deadline and review your Notice of Assessment line by line once it arrives.
“Incorporating our dental clinic and balancing salary versus dividends used to cause constant stress. goodaccounting reorganized our corporate setup and cut our tax bill significantly — someone always picks up when you call.”
“Managing daily POS sales, food costs, and payroll for 12 staff was overwhelming. goodaccounting synced our Square registers with QuickBooks and handles our quarterly HST filings like clockwork.”
“Construction accounting is tricky with holdbacks and T5018 subcontractor slips. Aman's team set up job costing so I know my true margin on every job site, with zero surprise fees.”
“When our company grew past $2M, we needed real corporate expertise. goodaccounting prepared bank-ready Notice to Reader statements in two weeks and helped us claim key tax deductions.”
A simple process from first call to finished work.
Tell us about your situation by phone, video or the contact form. We listen first and ask the right questions.
You get a plain-language scope of work and a fee quote before anything starts, so there are no surprises.
We prepare, file and reconcile everything, and you review a clear summary before it goes to the CRA.
Questions in March or September are welcome. We stay available all year, not just at tax time.
Choose your city to see how we help locally.
T1 tax returns for individuals, families, students, seniors and newcomers, filed accurately and on time.
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T2 corporate returns and year-end tax planning for Canadian-controlled private corporations.
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Corporate tax, incorporation guidance and PREC planning for real estate agents and Realtors across Ontario.
Learn moreAnswers to common questions in Ontario.
An MPC is a corporation that allows a physician licensed in Ontario to bill and receive income through a company rather than personally. It can defer tax on income retained in the corporation, but comes with its own incorporation, CPSO and T2 filing requirements.
Most insured medical services are exempt from HST. Cosmetic procedures, expert reports and certain other uninsured services can be taxable, so your HST obligations depend on your specific mix of services.
Incorporating generally helps once your billings exceed what you need to live on, since it lets you defer tax on income left in the corporation. We review your numbers and give you a straight answer before you decide.
Fees depend on the scope and complexity of your situation. After a free consultation we give you a clear quote before any work begins.
Yes. We serve Toronto, Mississauga, Brampton, Vaughan, Markham, Oakville and the wider GTA, and we work with clients across Canada by phone, video and secure online document sharing. Call (647) 527-4970 to get started.