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Blue Ocean Professional Corporation
CPA, Chartered Professional Accountants Free Consultation
INDUSTRIES · 08

Accounting for healthcare & medical professionals

Physicians, dentists, clinics and other health professionals: professional corporations, exempt billing and clean books.

ExemptMost health care services are HST-exempt, which changes what you can claim back
Prof. corp.Professional corporations set up and run within your college's rules
PayrollStaff pay runs, remittances and T4s for clinics and practices
WHAT WE HANDLE

The work that comes with your industry.

Professional corporations

Setting up and maintaining a medicine, dentistry or other health professional corporation.

HST on health services

Which services are exempt, which are taxable, and what that means for input tax credits.

Clinic bookkeeping

Billings, shared expenses and staff costs recorded clearly.

Payroll

Pay runs, remittances and T4s for clinic staff.

Pay and retirement planning

Salary, dividends and long-term planning inside your corporation.

Associates and cost sharing

Arrangements between practitioners documented and accounted for.

COMMON QUESTIONS

What healthcare clients ask us

Do I charge HST on my services?

Most health care services provided by licensed practitioners are exempt, but some, like certain cosmetic procedures or non-medical reports, can be taxable. We review what you bill.

Should I incorporate my practice?

If you earn more than you need to live on, a professional corporation can defer tax on the difference. Your regulatory college has its own rules, so we plan within them.

Can you work with my clinic's billing system?

Yes. We work from the reports your billing system produces.

Ready for an accountant who knows your industry?

Mississauga, ON · St. Petersburg, FL · info@blueocean.tax

Free Consultation 416-828-7462