For incorporated doctors in Toronto
Accountant for Doctors in Toronto
Wealthy Wave Accounting is an accountant for incorporated doctors in Toronto. We prepare your medicine professional corporation's year-end and T2, your personal T1, and the salary and dividend plan between them. Start with a free tax and estate planning session with Chirag Kalra on Teams, so it fits around your clinic list.
Toronto doctors · Served from Brampton · Teams across Ontario
How it works
Working with us from Toronto, step by step.
Exactly what happens after you get in touch, starting with one 15-minute call.
- Today
Book 15 minutes
A free, no-obligation 15-minute call on Teams or at our office at 181 Queen St E, Brampton.
- The session
Free tax and estate planning
Chirag looks at how you pay yourself, what sits in your corporation and how your estate is set up. No cost and no obligation.
- If you switch
Your last bill, quoted in writing
Send your most recent accounting invoice and we quote the same work before you decide anything.
- All year
One calendar for the practice
Year-end, T2, T1, instalments and payroll dates on one schedule, planned before 31 December each year.
- Your move
Ready when you are
Pick a 15-minute slot that suits you. We confirm the time and scope with you directly.
TORONTO AND BRAMPTON
Why Toronto doctors use an accountant in Brampton
Most Toronto physicians we meet have more than one source of income. OHIP fee-for-service or group practice payments go to the corporation. A hospital or university appointment is often paid to you personally on a T4. Then there are locums, call stipends, and insurance or legal reports. Each one lands in a different place on the tax return, and some of it carries HST while most of it does not. The work is keeping all of that straight and then deciding, before 31 December, how much to take out of the corporation and in what form.
That work happens on Teams and through secure file sharing, so you never have to leave the hospital to see us. If you would rather meet in person, our office at 181 Queen St E, Unit 5 is a short walk from Brampton GO, and the Kitchener GO line runs straight to Union Station, a few subway stops south of the hospitals on University Avenue. Many doctors book the free session for an evening or a day off and do everything else by email and video.
Toronto also adds costs that doctors elsewhere in Ontario do not face. The city charges its own land transfer tax on top of Ontario's, so buying a home or a clinic unit here costs noticeably more, and who buys it matters. A medicine professional corporation can only be owned by you and certain family members, never by another company, so the holding company structures that suit other businesses do not fit a medical practice. We plan within those rules and work alongside your lawyer on anything that needs legal documents.
What we see most often
Toronto doctors rarely have one simple pay cheque. Their tax plan should reflect that.
Four common problems, and what we do about each one.
- The problem
Income arrives from four directions.
OHIP payments, a hospital or university salary, locum fees and report fees all get taxed differently. When nobody puts them side by side, the salary and dividend mix is guessed instead of planned.
The solutionOne page with every stream
We list each source, where it is taxed and what is left to decide, then build the 2026 pay plan from that page.
- The problem
HST on the clinic gets missed in both directions.
Most medical services are exempt, so the HST on rent and supplies for that work is a real cost. Report and assessment fees can be taxable, and once they pass $30,000 over four quarters you have to register.
The solutionA billing review
We go through your OHIP statements and other billings and tell you plainly whether you need to register, and what to charge on which work.
- The problem
Savings pile up inside the corporation.
Once the corporation earns more than $50,000 of investment income in a year, its federal small business limit starts to shrink the next year. Toronto doctors who have been incorporated a while often get close without noticing.
The solutionA yearly check on passive income
We track the number at every year-end and explain the options, such as how the money is invested and when it is paid out.
- The problem
The family side was never mapped.
Shares in a medical corporation are taxed when you die, and without planning the same money can be taxed twice before it reaches your family.
The solutionA one-page estate picture
We sketch roughly what would reach your family today and list the questions to take to your lawyer, such as a separate will for your company shares.
MORE FOR DOCTORS
Useful pages for Toronto doctors
Each link opens a page with more detail. The same small team serves Toronto, Brampton and Mississauga.
Accountant for doctors in Ontario
The full offer, the free session and answers on TOSI, IPPs, passive income and HST for medical corporations.
02Accountant in Toronto
How we work with Toronto businesses: land transfer tax, the Vacant Home Tax declaration and owner pay.
03Corporate restructuring
Holding companies, estate freezes and why the usual holdco structure does not fit a medical corporation.
04Sample CFO reports
What a monthly report for a practice can look like, with made-up numbers.
05Dentists in Toronto
Dental practices: payroll, HST-exempt services and paying yourself from the practice.
06Ontario tax dates
Every T2, T1, HST and payroll date on one free page.
WHAT WE HANDLE
One firm for the books and the tax
- Medicine professional corporation year-end and T2
- Your personal T1, with hospital and university T4 income
- Salary and dividend plan, made before 31 December
- Payroll for clinic staff, remittances and T4s
- HST review for report and assessment fees
- Instalment reminders for your personal tax
- Passive income check against the small business limit
- A one-page estate picture to take to your lawyer
The exact work and fees are agreed in writing before work starts.
ANSWERS BEFORE YOU START
Common questions.
General information, not tax advice for your situation. Book 15 minutes to talk about yours.
Do you have an office in Toronto?
No. Our office is at 181 Queen St E, Unit 5, Brampton. Toronto doctors usually meet us on Teams, and you can visit by appointment.
Is the tax and estate planning session really free?
Yes. There is no cost and no obligation. You keep your notes whether or not you become a client.
How does the 50% offer work?
Send us your most recent accounting invoice for your corporate year-end, T2 and personal T1. We quote the same services at 50% off that fee, in writing, before you decide. It is for new incorporated doctor clients who sign up by 31 December 2026.
My hospital pays me on a T4. Can that go through my corporation?
Usually not. Employment income from a hospital or university is taxed to you personally. We include it in your T1 and plan your corporate pay around it.
Does insurance come up in the session?
Only if you raise it. Chirag also founded WealthPillar Inc. and is licensed to sell life insurance in Ontario. If it comes up, he says so and tells you how he is paid. You never have to buy anything.
A PRACTICAL NEXT STEP
Talk to us before
the deadline.
Share the service you need, your business type and any upcoming deadline. We’ll discuss the records, scope and next steps before work begins.