Purtzki Johansen + Associates

Physicians

Unlike any other professional sector we encounter, medical practices present a unique challenge in providing accounting, tax and consulting services.

As a result of continuing political changes in the health-care field, physicians are under constant pressure to increase revenues and control costs at the same time. Due of this pressure, physicians require an advisor who will deliver both traditional and specialized accounting, creative tax solutions, and consulting services. This is where we excel.

Over the years, we have tracked changes and forecast trends to ensure we meet the unique challenges of managing medical practices.

For more information about medical practice resources, visit: Just for Doctors

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  • Distributing Your Estate Assets Fairly (8/7/2019) - Most of us have a cavalier attitude about preparing our last will. We seldom set aside the time such an important document deserves to address the unique circumstances of our family, practice, and financial lives. Your lawyer may, as a reward for years of loyalty, prepare a will pro bono… Continue Reading
  • Building Wealth The Challenge of Building Wealth (8/6/2019) - One would expect that top income earners like doctors never have to worry about saving for retirement, paying for college education, paying off a large house mortgage or treating themselves to a ski vacation in St. Moritz. Contrary to popular belief, doctors face financial challenges their high income counterparts in… Continue Reading
  • A Simple Strategy to Boost Your Investment Returns (7/24/2019) - One investor shared his strategy with the Globe and Mail’s finance columnist, Rob Carrick, the other day. It is worth repeating because it is both simple and smart. This reader proposes to use two-thirds of his funds to invest in the Vanguard All-Equity ETF (Exchange-Traded Fund) portfolio (VEQT). VEQT holdings… Continue Reading
  • How Joint Home Ownership Leads to Messy Estate Fights (7/24/2019) - There always has been the rule that if real estate is owned as “joint tenants”, then the survivor of the joint owners will automatically become the sole owner. This right to survivorship will bypass any provisions in the testament. This principle was put to the test in a recent court… Continue Reading
  • Using debt to create wealth (7/11/2019) - Even if you hate being in debt, it’s impossible to live without it. So why not accept the fact that you are likely to be in debt throughout your career. There will be student loans and a home mortgage at the beginning, practice purchase loans at mid-career and perhaps bank… Continue Reading
  • Why you would want a family trust (7/11/2019) - Here is a summary of the benefits you can enjoy by setting up a family trust. Maintain control. As the trustee, you have full control over the trust assets within the scope of the trust document. The trustee also controls the allocation of income and distribution of funds to the… Continue Reading
  • Shareholder Loans-What you should know (6/26/2019) - The item on your corporate balance sheet that you should be most concerned about is the “shareholder loan” account. This loan account tracks cash advances to the shareholder(s) during the year. At the end of the corporate fiscal year, your accountant reviews shareholder loan transactions, monies which were advanced to… Continue Reading
  • Happiness: Fueling success and work performance (6/26/2019) - For untold generations we have been led to believe that if we work hard enough, we will be successful, and through success will come happiness. Dr. Shawn Achor, a Harvard professor in positive psychology, suggests in his book “The Happiness Advantage” that the opposite is true. When we are happy… Continue Reading
  • Tips for distributing your estate fairly among your beneficiaries (6/13/2019) - Most of us have a cavalier attitude about preparing our last will. We seldom set aside the time such an important document deserves to address the unique circumstances of our family, practice, and financial lives. Your lawyer may, as a reward for years of loyalty, prepare a will pro bono… Continue Reading
  • Why isn’t every doctor taking a tax-free loan from the Inc to pay for your home? (6/13/2019) - You and your spouse just finished building your $1 million home which you financed with a loan from your medical corporation. The company has no employees other than the two of you. To finance the loan, you liquidated $600,000 of investments and used your corporate line of credit for the… Continue Reading

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