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 work with a medical-clinic accountant?
Medical clinic accounting covers the financial pieces a general bookkeeper usually misses: OHIP remittance reconciliation, the HST split between exempt and taxable services, associate pay through T4 and T4A slips, and tax planning inside a medical professional corporation (MPC). One missed clawback or misclassified associate can trigger a CRA reassessment.
If you operate through an MPC, your T2 has moving pieces a general accountant will not catch. Small business deduction limits, the right salary-and-dividend mix, shareholder loans, and corporate-owned investments all interact. Ontario Tax Team works with physicians and dentists across Oakville, Burlington, Milton, and Mississauga, plus virtual clients across Southern Ontario and the GTA.
Samer Al-Assali, our founder, works directly with clinic owners on the year-round strategy that keeps more income in your pocket. The client mix includes family medicine practices, dental clinics, specialist offices, and multi-disciplinary health centres. Your focus should be on patient care. Let us handle the numbers.
What does medical clinic accounting cover?
Medical clinic accounting covers OHIP revenue tracking, MPC tax filing, associate pay, and HST compliance, plus the year-round planning that physicians and dentists need to keep more income in the corporation.
- 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 is included in our medical clinic packages?
Each package covers the accounting, tax, and compliance work a healthcare practice needs, from OHIP reconciliation to T2 filing and HST returns.
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.
Your associates may be employees on T4 or independent contractors on T4A. We set up the right compensation structure and handle all the reporting, including source deductions and year-end slips.
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.
How do we work with your clinic month-to-month?
Each month we reconcile your OHIP remittance, classify clinic expenses, run payroll, and post the corporate books, then meet with you each quarter to revisit the plan inside your MPC.
In a typical month, we download OHIP remittance advices, match them against your billing system, and flag rejected claims and clawbacks. Bank and credit card feeds are coded, associate pay runs through payroll (T4 employees and T4A independent contractors), and the books close by mid-month. You see a clean revenue, expense, and profit report with no surprises at year-end.
Each quarter, Samer reviews your draft numbers with you. We revisit the salary-and-dividend mix, look at shareholder loan balances, plan corporate-owned investments, and project where your T2 will land. If an individual pension plan (IPP) or RRSP top-up makes sense for your tax picture, we model it before the year closes, not after. Succession and retirement planning sits in the same conversation, so the corporation is built for the next stage of your career.
We work with physicians and dentists in Oakville, Burlington, Milton, and Mississauga, plus remote clients across the GTA and Southern Ontario. Each engagement starts with a free 15-minute call to scope the work and quote a fixed monthly fee.
Last updated: June 2026
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