Tax Specialist for Doctors
Accounting and Tax Specialist for Doctors, Dentists and Medical Professionals
As a doctor, dentist, or healthcare provider, your patients rely on you for their health. But when it comes to your own financial health, many medical professionals face tax challenges, bookkeeping gaps, and higher-than-average CRA audit risk.
At Dexado Accounting & Tax, we go beyond compliance. Led by Boris Davidkov, CPA and former CRA auditor, we specialize in helping medical professionals reduce taxes, build wealth, and stay protected from CRA scrutiny.
Some of the Medical Professionals We Serve
We provide accounting and tax planning services across Canada for:
- Physicians and surgeons
- Dentists
- Pharmacists
- Psychologists and mental health providers
- Nurses and nurse practitioners
- Pediatricians
- And many more
Key Challenges Medical Professionals Face
Tax Complexity Across Business Types
Doctors may be sole proprietors, part of a group practice, or operate through a Medical Professional Corporation (MPC). Each setup comes with unique tax filings and obligations: T1 personal returns, T2 corporate returns, GST/HST, payroll remittances, and strict rules around eligible deductions.
Too often, generalist accountants overlook industry-specific rules, leaving doctors exposed to missed savings or CRA reassessments.
How Dexado helps: We align your accounting with your tax plan – optimizing your salary/dividend mix, maximizing deductions, and keeping you compliant.
CRA Audit Risks for High-Income Professionals
The CRA pays particular attention to incorporated doctors and dentists. Common triggers include:
- High expense claims (vehicle or home office)
- Dividends to family members
- Aggressive tax strategies promoted by third parties
For a busy physician, an audit can be financially disruptive and stressful.
How Dexado helps: With our audit-proof approach, every return is prepared to withstand CRA review. And if you are audited, our ex-CRA auditor background means you won’t face CRA alone.
Bookkeeping & Cash Flow Issues
Many clinics leave bookkeeping to staff or spouses without proper training. This often leads to:
- Unreconciled accounts and missing expenses
- Disorganized receipts that won’t hold up in an audit
- No real-time reporting, making it hard to track profitability or cash flow
How Dexado helps: We set up cloud-based systems (QuickBooks, Dext) with monthly reconciliations, digital receipt capture, and real-time dashboards – giving you accurate financials without the stress.
Missed Tax Planning Opportunities
Most doctors only meet their accountant at year-end. By then, it’s too late to act. Without proactive planning, you risk:
- Paying more tax than necessary due to poor salary/dividend planning
- Missing retirement tools like RRSPs, IPPs, or pension strategies
- Underusing corporations and Holdcos for wealth building
- Lacking succession or exit strategies when selling a practice
How Dexado helps: We meet with you quarterly or semi-annually to update your tax plan. Whether it’s incorporating, using a Holdco, or planning your clinic sale, we ensure you never miss an opportunity.
How Dexado Helps Medical Professionals
Why Choose Dexado
Ex-CRA Advantage
Boris Davidkov, CPA, spent over 13 years as a CRA auditor, giving you insider knowledge of what triggers audits and how to stay protected.
Proactive, not reactive
We plan throughout the year, not just at tax time.
Industry expertise
We know the unique financial challenges of healthcare professionals.
Audit-proof guarantee
If CRA audits a return we prepared, we provide representation at no extra cost.
Our Pricing
Self-Employed Physicians
Tax Accounting-
Personal Tax Accounting (T1)
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Proactive Tax Planning
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Investments & Real Estate
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Year-Round Support
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Correspondance with CRA
Incorporated Doctors
Tax Advisory and Accounting-
Corporate Tax Filing (T2)
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Personal Tax Filing (T1)
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Mid-Year Tax Meeting
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T4/T5 Information Returns
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Correspondance with CRA
Family Trust
Tax Accounting-
T3 trust income tax return
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Tax slips – T3, T5 (interest)
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Tax deferral and distribution
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Year-Round Support
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Communication wih CRA
FAQs – Accounting & Tax Advisory Services
for Medical Professionals
🔹What type of accounting is used most often by physicians?
Most physicians use accrual-based accounting for corporate tax reporting and cash-based accounting for personal finances.
🔹 Is it better for doctors to incorporate?
Incorporating can provide tax deferral benefits, income splitting opportunities, and liability protection. However, it depends on your income level and long-term financial goals.
🔹 Can I deduct my home office expenses as a doctor?
Yes, if you use a portion of your home exclusively for business purposes, certain expenses can be deducted.
🔹 Do I need a medical accountant, or can I use a general accountant?
Medical professionals have unique tax laws, deductions, and benefits that general accountants may overlook. A specialized medical accountant ensures maximum tax efficiency and compliance.