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If you are weighing incorporation, restructuring compensation, or preparing for a transaction, book a 15-minute call. We will tell you on the call whether we are the right firm.
Accounting and tax for incorporated healthcare professionals.
Incorporation, compensation strategy, passive income planning, and practice transitions. Healthcare is the practice specialty.
Who we work with
Regulated healthcare professionals across Canada, operating as sole proprietors, professional corporations, or multi-practitioner groups. From residents filing a first T1 to senior practitioners structuring an exit.
Medical and dental. Physicians, surgeons, dentists, dental specialists (oral surgery, orthodontics, endodontics, periodontics, prosthodontics, pediatric dentistry), dental hygienists, denturists.
Vision, hearing, and speech. Optometrists, opticians, audiologists, speech-language pathologists.
Rehabilitation and movement. Physiotherapists, chiropractors, occupational therapists, registered massage therapists, kinesiologists, athletic therapists, podiatrists and chiropodists.
Mental health. Psychologists, psychotherapists, registered social workers.
Pharmacy. Pharmacists and pharmacy owners.
Nursing. Nurse practitioners and registered nurses in independent practice.
Other regulated practitioners. Naturopathic doctors, traditional Chinese medicine practitioners and acupuncturists, midwives, dietitians, respiratory therapists, medical laboratory technologists, medical radiation technologists.
If you are a regulated healthcare professional in Canada and incorporated or planning to be, the work below applies.
What we do
Incorporation analysis and execution. The rule of thumb is incorporation makes sense at $200,000+ of net practice income. The actual answer depends on spousal income, RRSP and IPP room, debt service, retirement timeline, and provincial integration math. We model the file and tell you whether the deferral pays back the setup and compliance cost. If it does, we handle the incorporation, share structure, and first-year planning.
Compensation optimization. Salary versus dividend mix gets recalculated every year. RRSP room, CPP, IPP eligibility, spousal income, and changes to the small business deduction all factor in. We run the integration analysis annually and recommend the split.
Passive income grind. Investment income inside a PC starts grinding the small business deduction at $50,000. For higher earners the cost is real and avoidable. We model the grind, structure investments accordingly, and decide what to hold corporately versus personally.
Family compensation. TOSI killed most income splitting strategies, but not all. Spouses 65+, spouses who genuinely contribute, and excluded amount situations still have room. We document the substance so it stands up to CRA review.
Practice transitions. Buy-ins, buy-outs, associate structures, succession planning. Coordinated with practice brokers, healthcare-specific lawyers, and lenders.
Compliance. T2, T1, HST where applicable, T4 and T5 slips, compilation financial statements, CRA correspondence. The personal and corporate files sit with the same team.
A specialist physician at $400,000 of practice income can be overpaying tax by $20,000 to $40,000 annually from a suboptimal compensation mix, a poorly-timed incorporation, or an investment portfolio that should be structured differently. Most do not notice. The cost compounds quietly across a career. The work above is what closes that gap.
Recent files
Mid-career specialist, compensation restructure. Incorporated five years prior. Drawing $250,000 personally, leaving $180,000 in the corp. Defaulting to all-dividend compensation. No RRSP room being created. Restructured to a mixed salary-dividend strategy, optimized at the marginal rate, paired with an IPP for catch-up contribution room. Outcome: roughly $14,000 of recurring annual tax saved through integration. $90,000 of IPP catch-up contributions over two years.
General dentist, associate buy-in. Senior dentist offered an existing associate a 30% stake. No structure in place to support the transaction. Section 85 rollover into a new partnership, parallel professional corporations for each owner, shareholder agreement coordinated with corporate counsel, financing through the corp. Outcome: buy-in completed at fair market value with no immediate tax to either party.
FAQ
When should I incorporate?
When the deferral pays back the setup and annual compliance cost within two years. Usually $200,000+ of net practice income, but only if a meaningful portion stays in the corp.
Can I keep my existing accountant for personal taxes?
Yes. Not recommended. Most of the planning value comes from integrating the personal and corporate files, and that only works when one team sees both.
Residents and fellows?
Yes. Files are usually simple. Worth getting right around licensing exam costs, moving expenses, and the transition to staff income.
Dentists versus physicians?
Core work is the same. Dental files involve more equipment financing and CCA, often have associate structures, and frequently involve practice purchases. We handle those.