Accounting & Tax Planning for Medical Clinics
OHIP billing reconciliation, medical professional corporation tax planning, and HST compliance for physicians, dentists, and clinics across Southern Ontario.
Why Medical Clinics Choose Ontario Tax Team
Running a medical clinic comes with financial complexities that most general accountants are not equipped to handle. OHIP billing reconciliation, HST-exempt service tracking, associate compensation structures, and professional corporation tax planning all require specialized knowledge. One mistake can mean lost revenue or a CRA reassessment.
Ontario Tax Team provides accounting and tax services built specifically for medical clinics, physicians, and dentists across Oakville, Mississauga, Burlington, and Milton. We understand how OHIP payments flow, how to structure associate compensation, and how to maximize the tax advantages of a medical professional corporation. Our clients include family medicine practices, dental clinics, specialist offices, and multi-disciplinary health centres.
Our CPA, Samer Al-Assali, works directly with clinic owners and physicians to build a financial strategy that goes beyond compliance. We help you keep more of what you earn through smart corporate tax planning, accurate OHIP tracking, and proactive year-end strategies. Your focus should be on patient care. Let us handle the numbers.
Medical Clinic Accounting & Tax Services
- OHIP revenue reconciliation and tracking
- Medical professional corporation T2 tax returns
- Associate compensation structuring and reporting
- HST compliance for mixed taxable and exempt services
- Practice valuation and financial analysis
- Monthly bookkeeping and bank reconciliation
- Payroll for clinic staff and associates
- Salary vs. dividend planning for physician corporations
- Corporate year-end planning and tax optimization
- CRA audit support and correspondence
What's Included
Our medical clinic packages cover the full range of accounting, tax, and compliance services that healthcare practices need.
We reconcile your OHIP remittance advices against your billing records every month. Rejected claims, clawbacks, and payment discrepancies are identified and resolved quickly.
We prepare and file T2 corporate tax returns for medical and dental professional corporations, ensuring you take full advantage of the small business deduction and other available credits.
Whether your associates are employees or independent contractors, we set up the right compensation structure and handle all the reporting. T4s, T4As, and source deductions are all covered.
Most medical services are HST-exempt, but many clinics also provide taxable services like cosmetic procedures or certain therapies. We track the split and file your HST returns accurately.
Planning to sell, merge, or bring on a partner? We prepare financial analyses and practice valuations that give you a clear picture of what your clinic is worth.
We work with physicians and dentists year-round on tax planning strategies, including optimal salary and dividend mix, retained earnings management, and investment planning inside your corporation.
Medical Clinic Accounting FAQs
Ready to Take Control of Your Finances?
Book a free 15-minute consultation and let's talk about how we can help your business thrive.