– Paul Rioux, CPA, CA, PL. FIN.
Resident Physicians
You have worked hard to get where you are, but the most interesting part is still ahead of you! When it comes to financial planning, it is important to get a good start.
Our team of experienced advisors will follow your career and help you establish the basis of a healthy and fortuitous financial planning.
- Production of your individual income tax form;
- Meeting to plan the beginning of the practice (deductible expenses);
- Fiscal fellowship / moonlight / grant.
Practising Physicians
Your weeks are full and your patients require your full attention to keep them in good health.
Let us make your life easier by taking care of your financial health. We will ensure that your financial estate grows without you having to worry about it.
- Production of your individual income tax form;
- Optimization of the professional expenses that qualify as deductible expenses;
- Follow-up and annual meeting (RRSP).
Incorporated Physicians
Your practice is unique and it is important to you. Paul Rioux CPA Inc. has been helping professionals like yourself provide the best services to their clientele for over 20 years.
Strategy, growth management, diversification, acquisition, we will help you establish an efficient and sustainable strategy.
- Writing of your financial statements;
- Production of your corporate income tax form;
- Development of a strategy for your remuneration (salary vs dividend).
Incorporation services
Incorporating your practice could be a strategic asset in order to optimize your financial estate.
Our team of qualified experts will be by your side, from your business creation to the setup of best financial management principles.
- Support and guidance during the creation of your corporation;
- Full management of the registration process with the Registraire des Entreprises, Collège des Médecins and the RAMQ;
- Implementation of fiscal strategies adapted to your needs.
Financial and fiscal planning
A well-designed planning is necessary to achieve your financial, personal and professional objectives.
We will help you design a customized financial plan that will take into account your personal circumstances, your objectives and your values.
- Creation of your financial report;
- Retirement projection scenarios (VISION);
- Tax estimation.
FAQ
Even though the majority of our clients are doctors, we represent a diversity of professionals during tax return season (CEO, employees, retired person, independent workers, engineers, consultants, accountants, other healthcare professionals etc.)
Yes. Despite the last budget modifications and what the media headlines claimed, it is still possible to incorporate in Quebec.
As soon as you have earned your first incomes as an independent worker. Incorporation can be done at anytime during the year, it does not have to follow the calendar year.
Professional subscriptions, Medical Liability Protection (MLP) reimbursement program, invoicing agency fees, training fees and congress, office fees (private clinics), IT equipment (including Up-to-date software), books, professional fees related to services rendered (including accounting fees for tax return).
Expenses allocated to a car for trips between your home and your main place of practice cannot be deducted. If you work in several premises, an expense related to your travelling (car or other) can be deducted.
The only additional expense is the one allocated to the home office, since the criterion determining the deductible character of an asset are more flexible for corporations than for individuals.
The deadline is June 15th. However, you have to settle your income tax balance before April 30th. It is then better to complete your tax return before this date. An interesting strategy could be to pay an estimate amount of taxes on April 30th, that will be considered as an instalment on account when you do your tax return.
Forward us your notice of tax assessment via e-mail, to the following address: vstarnaud@paulrioux.qc.ca, or by fax at 514-875-5206.
We will investigate the situation and get back to you with an explanation.
It is important to know that tax returns are supplied electronically, so we do not need to send any documents supporting the tax declaration. Therefore, we can complete your tax return with copies of your documents, scanned pages, excel tables, bank statements, as well as hand-written notes.
However, you must provide the original documents, invoices and statements during government auditing (electronic versions are accepted).
Supporting documents and registers have to be kept for six years after the last taxation year they are relating to.
