Medical Professional Corporation Accounting

Medical Professional Corporation Accounting Services in Canada

Specialized accounting for doctors, dentists, physicians, surgeons, specialists, and MPC-eligible healthcare professionals. Advanced tax planning, MPC bookkeeping, HST compliance, investment accounting, and compensation strategy, all built around how medical corporations actually work.

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(647) 727-9684
What we manage for your MPC
  • Bookkeeping
  • Payroll
  • HST
  • Investment Accounting
  • Tax Planning
  • Year-end filings
Built for MPCs

You Built an Exceptional Medical Practice. Your Accounting Should Match It.

You spent years training to become a physician, dentist, surgeon, or specialist. Your income reflects that expertise, and so does the complexity of your financial situation. Medical Professional Corporation accounting is not an extension of standard small business accounting. It is a discipline of its own.

Physicians face unique tax rules, complex income structures across OHIP, private billing, and third-party payers, investment portfolios held inside the corporation, multi-layered compensation decisions, CRA scrutiny around professional corporations, and HST obligations that are more nuanced than most accountants realize.

A generalist approach to MPC accounting does not just leave money on the table. It can actively cost you tens of thousands of dollars per year through missed strategies, incorrect structuring, or poor tax planning.

Why physicians choose MiAccounting

20+

Years working with business owners across Ontario

CEPA

Certified Exit Planning Advisor for long-term practice strategy

A+

BBB Accredited Business
The MPC Reality

The Financial Reality for Doctors Is Genuinely Different

As a physician or MPC-eligible healthcare professional, your financial world includes complexities that require deep, specialized expertise to navigate well. Each of these areas requires precision. Together, they require an accountant who works with medical professionals specifically, not one who occasionally encounters them.
HST-exempt medical service rules, and the taxable streams that many physicians incorrectly assume are also exempt
Complex income structures spanning OHIP billings, private billing, third-party billing, and consulting income
High professional expenses and significant equipment purchases requiring proper CCA planning
Investment corporations and portfolio income held inside your MPC, subject to passive income rules
Multi-layered compensation planning across salary, dividends, and bonuses
Corporate passive income rules that affect your small business deduction
Spousal income planning and income sprinkling rules where applicable
Long-term incorporation advantages and wealth-building strategies
CRA scrutiny specific to professional corporations
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What It Looks Like

What Proper MPC Accounting Actually Looks Like

Imagine your compensation strategy being optimized every year around your actual household income and family situation. Your HST treatment is correct across every revenue stream. Your investment income inside the MPC is tracked precisely, CDA balances are managed, and passive income is structured to protect your small business deduction.

Your books are clean, current, and audit-ready. Your financial advisor and your accountant are working from the same picture. At year-end, there are no surprises, only a clear plan for the next twelve months.

You are not leaving tens of thousands of dollars in tax savings on the table each year. You are building wealth inside your MPC with intention and precision. That is what medical professional corporation accounting, done properly, delivers.
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(647) 727-9684
How We Work With You

How We Work With Physicians and MPCs

01
We Assess Your Current MPC Structure and Tax Position
We begin with a consultation to understand your specialty, income structure, compensation strategy, investment holdings, and where your current accounting may be leaving opportunities on the table.
02
We Build the Right Tax and Accounting System for Your MPC
We implement the strategies, structures, and processes that maximize your retained earnings, minimize tax liability, and keep your MPC fully compliant with CRA requirements.
03
We Manage Your MPC Accounting on an Ongoing Basis
Bookkeeping, payroll, HST, investment accounting, tax planning, and year-end filings, handled throughout the year so nothing is reactive and no opportunities are missed.
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Who We Work With

Physicians and Healthcare Professionals We Work With

MiAccounting has deep experience working with physicians, dentists, surgeons, and other MPC-eligible healthcare professionals across Canada.
🩺
Physicians
🪢
Dentists
🏥
Surgeons
🔬
Specialists
🏢
MPC-Eligible Healthcare Professionals
💳
Medical Professional Corporations
Why a Specialist

Deep Expertise in Medical Professional Corporation Accounting

MiAccounting has deep experience working with physicians, dentists, surgeons, and other MPC-eligible healthcare professionals across Canada. We understand how medical corporations are structured, how OHIP and private billing interact with your financial reporting, how investment income inside an MPC is taxed, and what the CRA looks for when reviewing professional corporations.

Fady Guirguis, CPA, CEPA, leads our advisory work with medical professionals. His Certified Exit Planning Advisor designation means our approach extends beyond annual compliance, helping physicians build wealth inside their MPC, plan for retirement and practice transitions, and make decisions today that protect and grow long-term value.

We also work directly with your financial advisors and portfolio managers to ensure your accounting and investment strategy are fully coordinated. The result is a complete financial picture, not a siloed one.
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Financial Visibility

Full-Service MPC Bookkeeping

Accurate MPC bookkeeping is essential for CRA compliance, personal planning, and investment integration. Your books stay clean, accurate, and audit-ready throughout the year.

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OHIP vs. Non-OHIP
Income Tracking
Tracking OHIP vs. non-OHIP income streams separately
Real-Time
Dashboards
Real-time dashboards showing net income, retained earnings, and cash flow
Monthly and Quarterly
Financial Statements
Integration with EMR, OHIP portals, and practice management software, plus expense tracking for CME, licencing, equipment, vehicles, and tools
The Cost of Waiting

What Happens Without Specialized MPC Accounting Support

Physicians who work with generalist accountants who lack deep MPC expertise commonly experience real, avoidable problems.The cost of specialized MPC accounting is consistently far smaller than the cost of not having it.

1
Tens of thousands of dollars in annual overpayment through missed tax strategies and suboptimal compensation planning
2
Incorrect HST treatment on taxable revenue streams, leading to CRA reassessments and penalties
3
Investment income inside the MPC managed without proper ACB tracking or CDA planning
4
Passive income levels that unintentionally reduce the small business deduction
5
Shareholder loan issues and compensation structures that create unnecessary personal tax liability
6
No long-term plan for retirement, practice transition, or wealth protection
What's Included

Our Medical Professional Corporation Accounting Services

📊
Advanced Tax Planning for Doctors and Medical Corporations
Physician tax planning requires strategies built around your medical specialty, income level, family situation, and long-term goals.
  • Income deferral through retained earnings inside the MPC
  • Salary vs. dividend optimization based on your household income
  • Bonus-down strategies to minimize small business tax
  • Capital Dividend Account (CDA) planning
  • Corporate life insurance planning for tax-sheltered growth
💳
HST Rules for Medical Professional Corporations
Medical services provided by licensed healthcare professionals are HST-exempt, but many physicians unknowingly have taxable revenue streams that require HST registration and collection.
  • HST-exempt: OHIP billings, insured patient services, medical exams
  • Taxable: cosmetic procedures, medical consulting, expert witness reports
  • Small supplier rule review and Input Tax Credit maximization
📚
Full-Service MPC Bookkeeping
Accurate MPC bookkeeping is essential for CRA compliance, personal planning, and investment integration.
  • Daily and weekly financial categorization
  • Tracking OHIP vs. non-OHIP income streams separately
  • Automated payroll for clinic staff and associates
  • Monthly and quarterly financial statements
📋
OHIP Billing Support and Private Billing Management
While you manage your OHIP submissions directly, we support the financial reconciliation that keeps your MPC books accurate and your reporting clean.
  • Tracking OHIP receivables
  • Reconciling OHIP deposits with your statements
  • Identifying inconsistencies or billing delays
  • Ensuring private billings subject to HST are handled correctly
💵
Payroll and Compensation Support
We manage payroll for full-time and part-time clinic staff, medical receptionists, RPNs, RNs, and support staff, plus associates and locums with correct contractor classification.
  • Proper source deductions, T4 and T4A compliance
  • WSIB where applicable
  • Multi-province payroll compliance for physicians working across multiple clinic locations
📈
Investment Accounting for Medical Corporations
Most physicians build long-term wealth through investments held inside their MPC, requiring precise accounting due to CRA passive income rules.
  • Investment income tracking across dividends, interest, and capital gains
  • Adjusted Cost Base (ACB) tracking and T5/T3 slip integration
  • Passive income grind-down planning to protect your small business deduction
  • Coordination with your portfolio manager or investment advisor
📄
Year-End Financials and Corporate Tax Filing for MPCs
Year-end is not the finish line. It is the planning foundation for the next twelve months of income optimization.
  • Notice to Reader (NTR) financial statements and corporate tax return (T2)
  • Schedules for MPC-specific deductions and medical equipment CCA schedules
  • Shareholder loan planning and retained earnings analysis
  • Salary and dividend compensation summaries
Why MiAccounting

Why Medical Professionals Choose MiAccounting

You spent years building the expertise to run an exceptional medical practice. Your accounting should reflect that level of precision and protect everything you have built.

Deep, practical expertise in Medical Professional Corporation accounting across Canada
Advanced physician tax optimization, from income deferral to CDA planning to compensation strategy
Thorough understanding of medical billing systems, including OHIP and private billing
Seamless coordination with your financial advisors and portfolio managers
Audit-ready systems and documentation that keep you protected year-round
Forward-looking advice that goes beyond compliance, toward retirement, practice transitions, and long-term wealth
FAQs

FAQs: Medical Professional Corporation Accounting

What are the biggest tax advantages of incorporating my medical practice?+
Lower corporate tax rates, income deferral through retained earnings, dividend optimization, and the ability to grow investments inside the corporation at a lower tax rate. The cumulative advantage over a career is substantial.
Are doctors required to charge HST?+
Only on non-medical or cosmetic services and the sale of certain products. OHIP billings and medically necessary services are HST-exempt. The distinction matters and errors in either direction create real CRA exposure.
Can I run investments through my Medical Professional Corporation?+
Yes. Many physicians build long-term wealth through corporate investments. We specialize in investment accounting for MPCs, including CDA planning, ACB tracking, and passive income management under CRA rules.
Does MiAccounting help with OHIP billing reconciliation?+
Yes. We align OHIP deposits with your MPC financial reporting and identify any inconsistencies or billing delays that affect your books.
Do you prepare year-end financial statements and T2 corporate returns for MPCs?+
Yes, all prepared to MPC-specific standards and tailored to CRA requirements for professional corporations.

Let Us Manage Your MPC So You Can Focus on Your Patients

You spent years building the expertise to run an exceptional medical practice. Your accounting should reflect that level of precision and protect everything you have built.

If you want lower taxes, cleaner books, correct HST treatment, properly managed investment accounting, OHIP and private billing support, and a long-term wealth plan built around your MPC, the right place to start is a conversation.

‍Contact MiAccounting today to book a consultation. Let's have a clear-eyed look at your MPC and what optimized accounting could mean for your financial future.
Book a Call →
(647) 727-9684

Let's get started

Get in touch for a free, no-obligation consultation to find out how MiAccounting can help you achieve your financial goals.

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