Accountant for Veterinarians
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We currently are a leading accounting firm for Veterinarians in Ontario. Whether you own your own practice or are an associate our services and packages will match your needs. We handle all the tax and accounting so you can focus on the growth of your practice. As CPA's and licensed financial advisors we help our clients save taxes and create tax free wealth with the use of best practices with the use of corporations.
Block Fee's Packages:
- Electronic cloud based Bookkeeping
- CRA online access business and personal
- Advance Tax Planning
- Corporate Return (T2) and HST filings
- Financial Statements (Compilation)
- Personal return (T1) Complimentary
Incorporation
We work closely with lawyers to provide to get you incorporated. It is critical for have it setup properly as the practices gain value and these businesses qualify for the life time capital gains exemption amount of $850,000 per shareholder.
Medical Corporation
We work closely with lawyers to provide to get you incorporated. It is critical for have it setup properly as the practices gain value and these businesses qualify for the life time capital gains exemption amount of $850,000 per shareholder.
Payroll
We are partnered with ADP with preferred rates for automated payroll should the client want that. We also assist in the payroll for the owner and limited staff.
HST Returns
As the sales of veterinarian services are zero rated but some purchases and sales are subject to HST. Veterinarian clinics can claim input tax credits on rent and related expenses. Proper accounting is necessary to apply for refunds as CRA regularly conducts reviews and audits before giving refunds.
Full Accounting Services
Monthly cloud based electronic bookkeeping (pro-active management of expenses and business decisions to find solutions to reduce taxable income between corporation and personal. Separating business vs. personal. Payroll management for assistants, staff.
Tax Planning
Salary vs. Dividends, income splitting strategies, shareholder loans, home loans, etc. Avoiding tax triggers for purchasing additional properties, etc. Veterinarians can pay themselves and family members who work with them thru salaries and dividends (owners). We apply the best practices for corporations to assist you in tax and estate planning thru a variety of option including life insurance.
Buying and Selling Practice
We assist our clients in evaluation of practices for purchase and sale and all the necessary transitions.
Holding Companies
As revenues grow in the Veterinarian Corporation it is essential to consider holding companies to make additional purchases of assets like buildings and not pull it out of the corporation to cause tax triggers.
Filing Corporate Returns
Annual filing of Corporate returns and keeping corporation compliant with CRA. We handle all CRA dealings for both personal and corporate with online access.
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)
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 Pharmacists
Electronic T1 (personal tax return) filing – complimentary
Corporate return T2 electronic filing
Financial statements (notice to reader)
HST returns
Dealing with CRA (audits, reviews) – Online Access
Tax strategies – payroll vs. Dividend, shareholder loans, maximizing allowable deductions, personal vs. Business split. Access to accountant throughout the year and proactive management of your practice.
** Fees will cover compliance engagements and prices will vary based on your unique circumstances, billing, and additional dealings with CRA on existing matters and your stage of the practice will influence your package. We will inform you to come up with your unique package so you have a package that will be a block fee’s for the year. Our billing is monthly and we have a system especially designed for proactive management of the accounting cycle for veterinarians.
Get the expert help that you need with your accounting and taxes. Contact our Mississauga Tax Accountant for Medical Professionals.
Veterinarians Tax Accountant Mississauga, Toronto, Ottawa, London, Burlington, Markham
