Accountant for Doctors In Toronto
As a physician, your time is best spent with patients, not paperwork. NRK Accounting provides specialized accounting and tax services for doctors, physicians, and medical professionals across Toronto and North York. From setting up your medical professional corporation to ongoing bookkeeping, tax planning, and corporate filings, we help you reduce tax, stay compliant, and keep more of what you earn.
- CRA Compliant
- Trusted by Medical Professionals
- Free Consultation
Medical Professional Corporation Setup & Tax Planning
Most physicians in Ontario can incorporate through a medical professional corporation (MPC), one of the most effective ways to reduce and defer tax on your practice income. We help you
- Determine whether incorporating is right for your income and stage of career
- Set up your medical professional corporation correctly with the CRA and your college
- Structure salary versus dividends for the most tax-efficient income
- Take advantage of income splitting and tax deferral where available
- Plan for investments held inside your corporation
Tax Planning for Physicians & Doctors
Doctors face some of the highest marginal tax rates in Canada. Smart, proactive tax planning makes a significant difference to what you keep. We help physicians:
- Minimize personal and corporate tax through proactive planning
- Time income, dividends, and bonuses efficiently
- Maximize RRSP, and corporate investment strategies
- Plan for major purchases, practice expenses, and retirement
- Coordinate personal (T1) and corporate (T2) taxes for the best overall result
Complete Accounting Services for Medical Professionals
organized monthly bookkeeping for your practice or corporation, keeping you CRA-ready year round
accurate, on-time T2 returns and financial statements for your medical professional corporation
HST Guidance
most medical services are HST-exempt; we handle the nuances where HST does apply.
Incorporation Setup
full setup of your medical professional corporation and CRA accounts.
We Also Support Allied Health Professionals
Beyond physicians, we work with chiropractors, dentists, and other incorporated health professionals across Toronto and North York, providing the same specialized tax planning, incorporation, and accounting support tailored to healthcare practices.
Why Doctors Choose NRK Accounting
- Specialized experience with physicians and medical professional corporations
- Proactive tax planning that reduces what you owe
- One firm for incorporation, bookkeeping, corporate and personal tax
- Transparent, upfront pricing quoted before we start
- Local Toronto & North York service with virtual options for busy schedules
- Over 110 five-star reviews and more than a decade serving the GTA
Frequently Asked Questions
Common questions about Dentist
Should a doctor incorporate in Ontario?
Many physicians benefit from incorporating through a medical professional corporation, which allows tax deferral, income splitting where available, and more efficient income structuring, especially at higher income levels. Whether it’s right for you depends on your income, spending, and goals. We assess your situation and set it up correctly if it makes sense.
What is a medical professional corporation?
A medical professional corporation (MPC) is a corporation a licensed physician can use to earn practice income. It offers tax advantages like deferral and, in some cases, income splitting, while keeping you compliant with CRA and your college’srules. We handle the setup and ongoing filings.
How can doctors reduce their taxes?
Doctors can reduce tax through incorporation, tax-efficient salary and dividend planning, RRSP contributions, corporate investing, and careful timing of income and expenses. We build a proactive plan tailored to your practice so you keep more of what you earn.
Do you handle both my personal and corporate taxes?
Yes. We coordinate your personal (T1) and corporate (T2) tax filings together so your overall tax is minimized and nothing is missed, all under one roof.
Do you work with doctors virtually?
Yes. We serve physicians across Toronto and North York in person and fully virtually, so you can handle your accounting around your schedule, from anywhere.
Ready to strengthen your financial health?
Book a free consultation today to get expert dental accounting support in Toronto and North York.
Location
40 Wynford Drive, Suite 211 North York, Toronto
Phone
416-577-4301
info@nrkaccounting.com