Accounting for physicians in Ontario
Incorporated physicians in Ontario bill OHIP, may run a medicine professional corporation, and face real decisions about paying themselves in salary or dividends.
CRA EFILE authorized · Every filing signed by an accountant · Switching is free — about an hour of your time
taxifi · Physicians
This month
- Bookkeeping Current
- Payroll & source deductions Filed
- HST Filed
- Year-end tax (T2) On track
The problems we take off your plate
OHIP and other billings
OHIP, third-party, and other income are reconciled so your books reflect what you actually earned, not just what was deposited.
Your medicine professional corporation
The corporate bookkeeping and year-end T2 are handled end to end, kept clean for lenders and CRA alike.
Paying yourself
Salary, dividends, or a mix: your accountant runs the numbers for your situation each year, because the right answer changes.
Staff payroll
Any staff you employ are paid on schedule with source deductions remitted to CRA on time.
What’s included
Published prices for incorporated Ontario physicians. Everything below is handled.
- Bookkeeping for OHIP and other billings
- Corporate bookkeeping for your medicine professional corporation
- Payroll for any staff you employ
- Year-end corporate tax (T2), from $1,000 a year
- Salary-vs-dividend and tax planning with your accountant
| Area | A typical setup | With taxifi |
|---|---|---|
| Your books | Weeks or months behind | Current every day |
| Year-end (T2) | A spring scramble, billed extra | Included, no surprise invoice |
| Your accountant | Metered by the hour | Unlimited questions, flat monthly |
Common questions
Do you work with medicine professional corporations?
Yes. Incorporated physicians are a core fit, including the corporate T2 and compensation planning.
Can you help me decide salary vs. dividends?
Yes. Your accountant runs the numbers for your situation each year, since the right answer changes.
Books and taxes for your medical practice, done
Bookkeeping from $99 a month, accountant-reviewed from $299, corporate T2 from $1,000 a year. Prices are published; a call confirms the fit.
Get Started