Bookkeeping for Doctors | Dentists

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Accounting & Bookkeeping Services for Medical Practitioners Coquitlam

We provide customized Accounting, Bookkeeping and Income Tax Preparation Services to Dentists, Doctors, Chiropractors, Physiotherapists, and Pharmacists. Our in-depth knowledge of the medical industry allows us to provide you with opportunities to minimize your taxes and improve your business and personal cash-flow. Managing your income taxes is a critical element of managing the overall cash flow of your business. We will provide you with pro-active tax planning solutions to help and better manage your taxes, which ultimately will increase your business cash flow. Timing of revenue and expenses can be a critical factor in this mix. We don’t use a cookie cutter approach we provide a custom tax plan for your individual and business needs. In addition to accounting and income tax services to dentists, doctors, and other practitioners these are a few things that we can do to help our medical professionals.

Services

  • Consultation on New Start-up Practice & Projections
  • Manage Accounts Receivable, Payable and Insurance Reconciliation
  • Bank Account Reconciliation
  • Preparation of Staff Payroll & WCB
  • Maintain Detailed General Ledger
  • Full Cycle Bookkeeping
  • Consultation and Setting up Holding Corporation and Family Trust
  • Preparation of Budgeting and Variance Analysis
  • Preparation of Financial Statements and Taxes
  • Preparation of Profit and Loss Reports
  • Maintaining Fixed Asset Schedules
  • Preparation of T4s and T5s and Electronic Filings
  • Preparation of Monthly or Quarterly Key Perfomance Indicators
  • Cloud Computing Including; QuickBooks Online, Simply Accounting, Wave Accounting, Xero, and Freshbooks

Common Concerns for Medical Professionals

  • Appropriate business structure, sole proprietorship, a holding corporation, a family trust, and/or an operating company
  • Minimize personal and business tax bill
  • New Income splitting rules and regulations
  • My accountant is not familiar with the industry
  • In case of partnership, how to protecting my financial interest
  • Bank, loans and accounts receivable reconciliation on a regular basis Implementation of a strong internal control

Advance Tax and Accounting Planning

  • Split income with family members; such as paying your children’s tuition fee from the business
  • Setup and fund an appropriate pension plan for your retirement
  • Tax free cash proceeds upon selling the practice by utilizing the $850,000 life time capital gain exemption
  • Compensation decisions between dividend vs salary
  • Having a holding corporation and family trust for splitting and protecting corporation assets
  • Attribution rules avoidance with spouse and minor children (new rules for dividend income post 2017)
  • Protecting business assets and practice in case of marital break-down
  • Refinancing practice and equipment analysis
  • Practice valuation and related accounting and tax issues
  • Incorporation of a practice and designing a tax effective structure
  • Making non-deductible expenses to tax deductible expenses by utilizing tax provisions
  • Implement strategies to deal with company’s risk effectively
  • Managing cost effectively to improve cash flow.

What Our Clients Are Saying About Us

"Nafees and his professional team have provided me with a broad range of services to help manage my small business for the last ten years including recent support through the sale of the business to new owners. I found the quality of his services to have been excellent and it was always reassuring to have Nafees' providing advice and guidance, virtually as a partner with me, as the business grew. I continue to use his services for my personal financial matters."
Glenn Quarrington
Owner (Ex VP of BestBuy)
I am glad I found this accounting firm! The owner, Nafees Chaudhry is very knowledgeable, competent, efficient, friendly and overall, an excellent accountant. He handles both my personal and business taxes. He does a great job and is always on time providing his services and getting the work done. The bonus is that their services are reasonably priced too. They are always willing to help and available to answer your questions. I highly recommend Nafees Chaudhry and his accounting firm. They are the best, and I have dealt with others accountants, as such, I can truly say that Nafees Chaudhry is by far the best. They also do US taxes. Thumbs up!!
Georgina Velasquez
Gonzalez & Company (Lawyer)
Nafees and his team is fantastic! I have multiple corporations and working with Nafees since 2012. Nafees is great in explaining things in easy plain terms and taking away the stress related to bookkeeping and taxes. The entire team at CNC has taken the time to get to know us on a personal level, which most other accounting firms ignore. It is not just all business with CNC, there is a sincere passion for wanting me to grow as a business. He also discusses matters outside of the accounting scope to make my business profitable which shows Nafees’ knowledge about the business and the industry as a whole. They are also very prompt in responding to my questions. I am very pleased with them and recommend Nafees for all types of business-related accounting, bookkeeping and, tax work.
Shawn
Globe Shields

Advantage of Working With Us

Management Reports

Tax Planning

5% Price Satisfaction

CRA Audit Help

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