Looking for an Accountant for Doctors, your in luck because Birdi Chartered Professional Accountant is a full service firm serving  Brampton, Milton, Toronto,  Mississauga, Markham, Burlington, London and the neighboring GTA region. We work with doctors, family physicians and many other various medical professionals for the past 15 years with our tax planning strategies, and effective use of the medical professional corporation structure.  As a medical doctor, you need an experienced CPA you can rely on for quality tax and accounting services, so you can focus on your work helping peoples health. Whether you are operating a medical practice of your own, or in residency training to become a doctor, Birdi CPA can provide you all the accounting and tax services you require under one roof. 

Using an accountant for doctors, we are able handle all the tax and accounting so you can focus on the growth of your practice. We have extra fast response times for phone calls, emails and meetings for doctors as we understand their schedule and work keeps them busy.  As CPA’s we help our clients save taxes and grow financially with the use customizing our strategies for case specific to our client’s needs.

Full service include:

• Articles of incorporation for a medical professional corporation
• CRA online access business and personal
• Advance Tax Planning
• Corporate Return(T2)
• Financial Statements (Compilation)
• Personal return (T1)
• GST/HST returns (if applicable to practice)
• T4/T5 slips for salary and dividends
• Bookkeeping services
• Payroll schedules and planning

Setting up a Medical professional corporation

Accounting services

Using Birdi CPA – accountant for doctors, what is included with our accounting services is everything you need to keep your corporation up to date, it involves completing your monthly or quarterly bookkeeping, we obtain your corporate bank statement and credit card expenses. Using top software such as Quickbooks, we are able to create financial statement to assess your financial health. It allows us find solutions  and make decisions to reduce taxable income between corporation and personal. And also, separating business vs. personal expenses.

Tax Advisory and Planning

Salary vs. Dividends, income splitting strategies, shareholder loans, home loans, etc. Avoiding tax triggers for purchasing additional properties, etc.  If a spouse or family member works in a clinic more than 20 hours they may also qualify under the new TOSI rules. As an accountant for doctors, we consider strategic items such as eligible dividends with your GRIP balance, and also the ideal combination of salary/dividend for your situation.

Filing Corporate returns: Annual filing of Corporate returns and keeping corporation compliant with CRA.

Get Online Access for your CRA accounts

We get authorized with the Canada Revenue Agency for both the corporation and personal to deal with them directly and take this responsibility away from our clients.

Financial Statements: Annual financial statements for lending institutions, etc.
Holding Companies: As revenues grow in the Medical Corporation it is essential to consider holding companies to make additional purchases of assets and not pull it out of the corporation to cause tax triggers.

Packages

Salaried employee’s & residency students:

Electronic T1 (personal tax return) filing
Tax saving strategies (RRSP) and allowable deductions
Dealing with CRA inquiries and reviews
Open communication with accountant throughout year for pro-active management

Sole proprietors (non incorporated – professional returns T2125) – These are complimentary in transition years while getting incorporated.

Electronic T1 (professional personal tax return) filing
Tax saving strategies (RRSP) and allowable expenses and deductions.
Dealing with CRA inquiries and reviews
Open communication with accountant
Electronic bookkeeping (separation of professional vs. Personal expenses) pro-active vs end of year.

Incorporated physicians:

Electronic T1 (personal tax return) filing – complimentary for owner and spouse
Corporate return T2 electronic filing
Financial statements (notice to reader)
Dealing with CRA (audits, reviews) – Online access
Tax strategies – payroll vs. Dividend, shareholder loans, maximizing allowable deductions, personal vs. Business split, Home loans.
Access to accountant throughout the year and proactive management of your practice.