Welcome to AcctShare Professional Corporation, your dedicated accounting partner for medical practices in Oakville, Ontario. Led by Sundeep Shah, who brings over a decade of experience, we specialize in accounting services for doctors and medical professionals—from solo practitioners to large clinics. We understand the unique financial challenges faced by healthcare providers and offer tailored accounting and tax solutions designed to help your practice thrive. With our support, you can focus on delivering exceptional patient care.
Why choose AcctShare for your medical accounting needs?
With AcctShare, you get more than just an accounting service. We bring in-depth knowledge of the healthcare industry and a commitment to guiding your practice to financial success. Our services are specifically designed for doctors and medical professionals, covering every aspect of financial management, tax planning, and compliance. Here’s how we help:
Our services
Comprehensive accounting packages for doctors
Our block-fee packages make accounting easy and predictable. They include:
- Cloud-Based BookkeepingOrganize your finances with seamless, electronic bookkeeping, allowing you to efficiently manage expenses and revenues.
- CRA Online AccessWe manage both your business and personal CRA accounts, so you stay fully compliant without the hassle.
- Advanced Tax PlanningFrom income-splitting strategies to shareholder loans, we design tax plans that minimize liabilities and maximize savings.
- Corporate (T2) and HST FilingsWe handle all corporate tax returns and HST filings, ensuring accurate reporting and optimized deductions.
- Personal Return (T1)Complimentary personal tax filing included for practice owners.
Specialized tax and compliance services
Medical corporation setupIf you’re considering incorporating, we can assist with the setup and structure, working with legal professionals to help your practice qualify for the Lifetime Capital Gains Exemption (2023 limit is $971,190 per shareholder). Incorporation can be complex, but we ensure everything is properly aligned from the start to support your long-term financial health.
Payroll servicesWe can provide in-house payroll services or recommend an outsourced partner to provide efficient, automated payroll solutions, covering payroll needs for your team and supporting compliance with CRA payroll requirements.
HST returnsMost medical services are HST-exempt, but certain products and ancillary services are not. We help you accurately claim input tax credits on eligible expenses, such as rent and operational costs, and ensure CRA compliance for any audits.
Strategic tax planning for doctors
Our tax planning services go beyond standard filing:
- Salary vs. Dividend OptimizationWe analyze your compensation structure to determine the best mix of salary and dividends, reducing taxes while maintaining cash flow.
- Income Splitting and Family PayrollPay family members who assist in your practice, reducing tax liabilities while meeting CRA requirements.
- Estate and Succession PlanningProtect the future of your practice with effective estate planning and asset management, leveraging strategies like holding companies and insurance planning.
Practice transitions and holding companies
Buying or selling a medical practiceWhen it’s time to buy or sell a practice, AcctSharewith help of legal team can help structuring the sale, and ensuring a smooth transition.
Holding company servicesFor successful medical corporations, we advise on establishing holding companies for asset management, enabling tax-efficient property purchases or other investments.
Filing corporate returns and CRA compliance
- Annual Corporate Tax ReturnsWe manage all corporate tax filings and compliance requirements, keeping your medical practice up-to-date with CRA guidelines.
- Full RepresentationWith CRA online access, we handle all your dealings with CRA, from audits to inquiries, so you can have peace of mind.
Packages for every stage of your medical career
Salaried doctors & residentsWe offer personal tax services, tax-saving strategies, and open communication throughout the year for proactive tax management.
Sole proprietors (unincorporated)For those not yet incorporated, we provide professional tax return filing, CRA audit assistance, and seamless bookkeeping, keeping business and personal expenses separated.
Incorporated doctorsOur most comprehensive package includes corporate tax filings, HST returns, payroll management, and year-round advisory support for your practice.
All packages are customized based on your practice’s unique needs, offering block-fee pricing and monthly billing.
Meet Your
Oakville Accountant
Sundeep Shah, B.Com, CPA has more than 20 years of experience in accounting field and has held positions from junior to senior levels throughout his career in multi-location and international environments. He has extensive experience in personal and corporation tax planning and preparation, financial accounting, budgeting, variance analysis, bookkeeping and payroll services. He has helped the clients in Corporate planning and organization, implementing internal controls, developing policies & procedures and saving costs by streamlining the processes. His strong skills in Revenue Recognition, Accruals, Allocations, Reconciliations have helped clients in planning for future and minimizing the tax liability.
Let’s help your practice thrive
With AcctShare Professional Corporation, you get more than just accounting—you get a partner dedicated to the success of your medical practice. Contact us today to schedule a consultation and see how our specialized accounting services can support your practice.
Frequently asked questions (FAQ)
2. How can incorporation benefit my medical practice?
Incorporation can offer significant tax benefits, asset protection, and eligibility for the Lifetime Capital Gains Exemption when selling your practice.
3. Can I pay family members through my medical corporation?
Yes, if family members contribute to the practice, paying them can help with income splitting and reduce overall tax liability. We ensure this is structured according to CRA guidelines.
4. How do HST rules apply to medical services in Ontario?
Most medical services are HST-exempt, but some items and additional services may be taxable. Our team ensures accurate HST filings and compliance with CRA regulations.
5. What’s the advantage of having a holding company?
A holding company allows you to reinvest corporate earnings without triggering personal tax liabilities, making it a useful tool for long-term wealth accumulation and asset protection.
6. Do I need year-round accounting services?
Yes, proactive management helps with financial planning, tax optimization, and CRA compliance. Our year-round service means we’re always here to support you and keep your finances on track.
7. How much will your services cost?
Our fees vary based on the complexity of your practice’s needs. We offer transparent, block-fee pricing, discussed upfront to ensure there are no surprises.
