At SMR CPA, we specialize in accounting for medical professionals, a service tailored specifically for doctors, specialists, clinic owners, and healthcare entrepreneurs across Ontario. If you’re looking for an experienced accountant for doctors, you’re in the right place.
Why You Need a Medical-Focused Accountant
You’ve spent years mastering medicine, not tax law or financial management. The financial side of running a practice or being self-employed in the medical field comes with unique challenges:
- Multiple income sources (OHIP, private billing, insurance, etc.).
- High overhead (equipment, rent, staff salaries).
- Complex tax planning opportunities.
- Incorporation and salary/dividend strategies.
- College dues, CME credits, and allowable write-offs.
- Long-term wealth planning with retirement in mind.
Working with a dedicated accountant for medical professionals means having someone who understands the ins and outs of your world. We translate complex financial matters into clear advice so you can make confident decisions without needing an MBA.
What Our Medical Accounting Services Include
Whether you’re a family doctor, specialist, surgeon, or part of a group practice, we offer comprehensive medical accounting services that grow with your career.
1. Incorporation Advice & Structure Setup
Incorporating your practice can be a game-changer, but only if it’s done right. We help you:
- Choose the right structure for your goals.
- Understand how to split income with a spouse.
- Create long-term tax deferral and retirement strategies.
- Set up professional corporations and holding companies.
2. Bookkeeping & Practice Financials
Let us take the paperwork off your plate.
- We track income streams from OHIP, private billing, and other sources.
- Categorize and reconcile expenses properly (scrubs, journals, licensing fees, etc.).
- Prepare clean, year-end-ready books.
You’ll always know where your practice stands financially, without drowning in spreadsheets.
3. Tax Planning & Filing
Tax season shouldn’t be stressful or surprising. As your accountant for physicians, we plan ahead:
- Maximize deductions related to your medical practice.
- Optimize your salary/dividend mix.
- Handle T4s, T5s, HST returns, and personal tax
 filings.
- Minimize your CRA exposure with compliant, proactive planning.
4. Financial Statements & Cash Flow Management
We help you understand how money flows through your practice.
- Custom reports show where your income goes.
- We highlight opportunities to reduce costs or increase margins.
- If you’re saving for a home, planning a clinic expansion, or considering early retirement, we’ll map out a plan.
5. Succession, Retirement & Exit Planning
You’ve worked hard for your practice. When it’s time to slow down or step away, we’ll:
- Assist with the sale or transition of your practice.
- Structure payouts and share transfers tax-efficiently.
- Coordinate with legal and financial advisors for a seamless exit.
Let’s Make the Numbers Work for You
You’re busy enough helping people live healthier lives. Let us help you build a healthier financial future. Whether you’re just launching your practice or preparing for retirement, SMR CPA brings clarity, calm, and confidence to your finances.
Ready to talk with a real person who understands your world?
Why SMR CPA?
We’re not a generic firm that tries to be everything to everyone. We specialize in working with healthcare professionals because we understand what you need and what you don’t.
1. Deep Industry Experience
We’ve supported GPs, specialists, surgeons, dentists, chiropractors, and more. We know how your billing works, what expenses you can claim, and how to navigate the financial quirks of being a medical professional.
2. We Speak Human, Not Just Accounting
Ever sat in a meeting and felt lost in acronyms? That won’t happen with us. Whether you’re new to the profession or a 20-year veteran, we keep things clear, concise, and easy to act on.
3. One Point of Contact
With SMR CPA, you don’t get passed around. You work directly with a partner or senior advisor who knows your file, your goals, and how to help you get there.
4. Holistic Approach
We look at the big picture, including practice income, personal goals, tax liabilities, and future planning. You’ll always know how your money is working for you and where there’s room to grow or save.
Frequently asked questions
Absolutely. A good accountant for doctors helps you get set up correctly, avoiding costly missteps from the beginning. We establish a solid financial foundation, from incorporation to HST compliance.
Yes, significantly. Whether it’s income splitting, dividend planning, RRSP/TFSA optimization, or claiming all eligible deductions, our medical accounting strategies aim to lower your tax burden while keeping things compliant.
A general accountant might not know how OHIP billing works, which expenses qualify for deductions, or how to structure your medical corporation. An accountant for physicians understands your unique financial ecosystem, so you get relevant, proactive advice, not generic spreadsheets.
No problem. We organize your earnings from different sources and ensure your reporting is accurate. Whether you're working under multiple contracts or running a mobile practice, our medical accounting services keep everything streamlined.
