Tax Accountant for Doctors in Ontario

Specialized bookkeeping, incorporation, and tax planning for physicians, specialists, and medical practice owners across Ontario

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AFFORDABLE Accounting Services for Doctors

At Gondaliya CPA we offer expert accounting and tax services tailored specifically for medical professionals across Canada

Whether you are a family physician, surgeon, specialist, or a locum doctor working across multiple clinics we help keep your finances organized, fully compliant, and optimized for long-term tax efficiency

As trusted tax accountants for doctors we provide guidance and support at every stage of your career from residency to retirement so you can focus on your patients while we handle the numbers

Our personalized approach ensures you make the most of your earnings and plan confidently for the future

Official Partner

Accounting That Understands Your Practice

Accounting for doctors can be complex with OHIP billing, evolving government regulations, associate payments, and strict reporting requirements making it easy for finances to become overwhelming. Your practice needs accountants who truly understand how medical clinics operate

We help you stay compliant, organized, and financially confident. From reconciling monthly OHIP statements to managing multi-provider payroll, tracking clinic expenses, and minimizing CRA and HST audit risks, our healthcare-focused approach ensures accuracy and peace of mind. With clear reporting and systems designed specifically for medical professionals, you can focus on patient care while we take care of the numbers.

OHIP Billing Reconciliation

Ensure every claim is accounted for accurately and nothing falls through the cracks.

Multi-provider Payroll

Simplified payments for associates, physicians, and locums, tailored to healthcare workflows.

Expense Management

Track, categorize, and optimize clinic expenses to improve profitability and transparency.

CRA/HST Audit Risk

Stay compliant and avoid CRA audit headaches with professional guidance.

Managing Multiple Income Streams as a Physician in Ontario

Many physicians in Ontario juggle income from multiple sources—hospital salaries (T4), OHIP billings, and locum contracts. Each stream has unique tax implications and reporting requirements. Without careful management, you may face unexpected tax liabilities or missed deductions.

Our CPA team specializes in consolidating these income sources, ensuring accurate reporting and maximizing allowable expenses, so you can focus on patient care without worrying about CRA compliance.

Stay Compliant and Minimize Tax as a Doctor

Doctors must maintain accurate records of all income and expenses to ensure compliance and optimize tax savings. This includes proper documentation of OHIP billings, clinic revenue, and any applicable HST/GST. Staying on top of filing and payment deadlines for corporate and personal taxes, payroll, and HST/GST remittances is essential to reduce audit risk and keep your practice running smoothly.

Professional Corporations and Structure

Medical professional corporations allow doctors to operate their practices as separate legal entities. Many doctors also consider holding companies to manage investments or future business ventures. The primary structuring goals include limiting personal liability, deferring taxes, and—where permitted—income splitting with family members. Proper setup ensures your practice is both legally compliant and tax-efficient.

CRA, HST, and Record‑Keeping

Doctors must maintain accurate records of all income and expenses to meet CRA obligations. This includes documenting billings, operating costs, and any applicable HST/GST. Timely filing of corporate and personal tax returns, payroll remittances, and HST payments is critical to avoid penalties and minimize audit risk. Clear, organized record-keeping also simplifies financial reporting and supports long-term practice planning.

Personal and Corporate Tax Integration

Tax planning for doctors involves coordinating the medical corporation’s T2 return with the physician’s personal T1 return. Decisions around salary versus dividends impact both personal cash flow and corporate tax efficiency. High-level planning also considers RRSP and TFSA contributions for retirement and savings goals, ensuring personal and corporate finances work together seamlessly.

Why Choose Our Doctor Tax Services?

Medical-Specific Tax Knowledge

We understand the unique CRA rules that apply to physicians, such as deductible licensing fees, scrubs, CME courses, practice management software, and more. We’ll ensure nothing is missed.

Incorporation & Compensation Planning

We’ll guide you through incorporating your medical practice, setting up a Medical Professional Corporation (MPC), and structuring your salary and dividends for tax optimization.

Multi-Income Tracking & Expense Separation

Whether you work at multiple clinics, bill under OHIP, or earn private consulting income, we make sure all your income streams are tracked and categorized accurately.

Tax Planning for Your Career Stage

From first-year residents to retiring doctors, we provide tailored CPA guidance at every stage—helping you plan for RRSPs, TFSAs, family trusts, and more.

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Accounting and Tax Services for Doctors

Corporate Tax Filing for Doctors

Professional Corporate tax preparation and return filing, ensuring accuracy and CRA compliance.

Accounting & Bookkeeping for Doctors

Reliable bookkeeping and accounting with financial statements, records, and reporting.

Corporate Tax Planning for Doctors

Smart Corporate tax planning to optimize savings, reduce liabilities, and maintain compliance.

CPA Compilation Report (Notice to Reader) for Doctors

Deliver clear CPA Compilation Reports (Notice to Reader) for reliable financial insights.

Trust and Estate Tax Returns (T3) for Doctors

Expert preparation of T3 returns to ensure compliance and minimize taxes for trusts and estates.

Corporate Tax Cleanup for Doctors

Resolve past corporate tax issues and bring your filings fully compliant and up to date.

CRA Audit Resolution Services for Doctors

Expert support to handle Canada Revenue Agency audits, disputes, and negotiations with confidence.

Resident Director (Nominee Director) Services for Doctors

Provide qualified Nominee Director and Resident Director services to help companies meet compliance requirements.

Incorporation Services for Doctors

Incorporation services for smooth business formation, entity setup, and start-up support.

Avoid Tax Surprises: Installments and Early-Career Planning

Early-career physicians often underestimate the need for CRA tax installments. Late payments or miscalculations can lead to interest charges and penalties. We help you project your annual tax liability, set up installment schedules, and implement strategies to minimize taxes legally.

By planning from day one, you reduce stress, optimize cash flow, and safeguard your income as your practice grows.

When to Incorporate Your Professional Medical Corporation

Incorporating as a Professional Medical Corporation (PMC) can provide significant tax advantages, including income splitting, deferred taxes, and enhanced retirement planning. However, timing is critical. Incorporating too early or too late can limit benefits.

We guide Ontario physicians through the PMC process, from choosing the right corporate structure to filing with CRA and CPSO requirements, ensuring compliance and maximum financial efficiency.

Understanding OHIP Billings vs Hospital Salaries

Income structure varies by hospital, specialty, and practice type. OHIP billings are often self-reported and subject to CRA rules for professional expenses, while hospital salaries are T4-reported with different deductions. Misunderstanding these distinctions can trigger audit risks or missed savings.

We provide clear guidance tailored to Ontario physicians on reporting, claiming expenses, and planning for a mix of OHIP and hospital income.

Tax and Regulatory Guidance for International or Non-Resident Physicians

Internationally trained physicians or non-resident doctors face additional complexities when practicing in Ontario, including LMIA requirements, CPSO registration, and CRA tax obligations. Mistakes can delay practice start dates or lead to compliance issues.

Our team helps non-resident physicians navigate regulatory pathways, tax residency rules, and income reporting, so your transition to Ontario practice is smooth and fully compliant.Income structure varies by hospital, specialty, and practice type. OHIP billings are often self-reported and subject to CRA rules for professional expenses, while hospital salaries are T4-reported with different deductions. Misunderstanding these distinctions can trigger audit risks or missed savings.

We provide clear guidance tailored to Ontario physicians on reporting, claiming expenses, and planning for a mix of OHIP and hospital income.

Free Resource: 50 Deductible Expenses for Doctors

Comprehensive checklist of tax-deductible costs unique to Doctors. PDF delivered instantly.

Case Studies

New Attending – Toronto

Problem: Unsure how to structure finances and taxes as a newly practicing doctor

Solution: Incorporated early and created a clear plan for tax efficiency and long-term savings

Result: Confident financial foundation and optimized tax savings from the start of the career

Clinic Owner – Ottawa

Problem: Spending too much time on bookkeeping and administrative tasks

Solution: Outsourced bookkeeping and implemented organized financial systems

Result: More time to focus on patient care and business growth

Established Physician – Mississauga

Problem: High audit risk and irregular cash flow from multiple income sources

Solution: Implemented structured accounting and tax strategies to reduce risk and streamline cash flow

Result: Peace of mind, consistent cash flow, and minimized audit exposure

How We Work: Your Year-End Flow

Step 1

Kickoff

Collect clinic documents, chart of accounts, previous filings, and OHIP statements.

Step 2

Cleanup & Setup

Organize books, integrate Xero/QBO, set up multi-provider payroll, and streamline clinic expense tracking.

Step 3

Monthly Close

Reconcile OHIP, run payroll, and submit HST/tax remittances.

Step 4

Quarterly Planning Review

Review tax planning, budgeting, cash flow, and compensation structures.

Step 5

Year-End Close & T2 Filing

Prepare trial balance, financial statements, corporate tax filing, and CRA audit-ready documentation.

Get Your Practice Tax-Ready Today

Transparent Pricing for Doctors

Pricing

We believe in clear, upfront pricing so you know exactly what to expect.

- Tax Preparation (Corporation): From $400
- Tax Return Filing (Corporation): From $400
- Tax Compliance Audit – FREE CRA audit support for our clients
- Tax Strategy: FREE for our clients
- Accounting Base Plan – From $100 / month
- Bookkeeping Management (Free for our Accounting clients)
- Financial Reporting (Free for our Accounting clients)
- Business Formation: Flat $35
- Incorporation Process: Flat $35
- Entity Setup Assistance: Flat $35
- Full-Service Payroll: From $125 per month

Meet Your Lead Doctors Tax Accountants

Sharad Gondaliya, CPA

Principal 647-212-9559 sharad@gondaliyacpa.ca

Vandana Goel, CPA

Accounting Specialist 647-250-0242 vandana@gondaliyacpa.ca

Step-by-Step Regulatory Onboarding for Ontario Physicians

Successfully practicing in Ontario requires careful navigation of CPSO licensing, CMPA coverage, and OHIP enrollment. Missing steps can delay patient care or expose you to liability.

We provide a comprehensive checklist and advisory service to ensure all registrations, fees, and compliance obligations are met on time, giving you peace of mind and a seamless start to practice.Early-career physicians often underestimate the need for CRA tax installments. Late payments or miscalculations can lead to interest charges and penalties. We help you project your annual tax liability, set up installment schedules, and implement strategies to minimize taxes legally.

By planning from day one, you reduce stress, optimize cash flow, and safeguard your income as your practice grows.

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We provide full-service accounting for physicians and medical practices — including accounting & bookkeeping, CFO services, tax preparation & filing, tax planning, payroll services, and incorporation services.

Do you prepare and file taxes for medical professionals?

Absolutely — we manage corporate, personal, and self-employed tax returns for doctors, ensuring compliance and maximizing deductions.

How does your tax planning help physicians save money?

Our tax planning services identify deductions and strategies tailored for doctors, helping you minimize tax liability and retain more of your income.

How do your accounting and bookkeeping services benefit doctors?

We handle precise record-keeping for your practice, track expenses, and provide cloud-based solutions to help you maintain financial clarity.

Can you manage payroll for clinic staff and associates?

Yes — we handle payroll processing, source deductions, remittances, and compliance so you can focus on patient care.

What can doctors write off on taxes?

Common deductions include CME courses, licensing fees, practice software, home office expenses (if applicable), insurance premiums, and scrubs. We’ll ensure full CRA compliance.

Do you provide ongoing advisory or growth planning for medical practices?

Through our CFO and tax planning services, we offer ongoing financial guidance to help your practice grow sustainably.

Do you work with doctors at multiple clinics?

Yes. We help track income from OHIP, private billings, and multi-site employment—all organized for smooth tax filings and cash flow clarity.

What’s the best way to structure my income as an incorporated doctor?

We help you determine an optimal mix of salary and dividends, taking into account tax brackets, RRSP contribution room, CPP, and long-term planning. Every structure is customized to your lifestyle and goals.

Do you help with CRA compliance for doctors?

Yes — we ensure your bookkeeping, payroll, and tax filings comply with CRA requirements.