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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  • 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
  • Maximizing the principal residence exemption (5/29/2019)- When a doctor client recently sold his home for a tax-free $1.5 million profit, one starts to wonder when our cash starved government will put limits on the tax exempt sale of your home. In the meantime, let us enjoy this generous tax shelter. Here are some ideas of how… Continue Reading
  • Successful Lease Negotiations (5/29/2019)- After staff salaries, office rent is the biggest overhead expense. The mistakes you could make in setting up the lease will haunt you for years. Here are a few negotiating points to help you come up with the best possible lease agreement. From a landlord’s perspective, physicians are one of… Continue Reading
  • The retirement fund shortfall, what is your solution? (5/15/2019)- Generations of investors have followed the timeless financial advice dispensed by Samuel Clason in his 1926 book, “The Richest Man in Babylon”.  According to Clason, it is easy to get rich: “Live frugally, save 10 per cent of your income, and start early.”   Yet doctors who follow this advice… Continue Reading
  • Tax planning on separation and divorce – what you need to know (5/15/2019)- When you are going through a separation or divorce, income tax issues will likely not be top of mind. However, good tax planning, before and during a separation can generate significant tax savings and help preserve your assets.   Support payments While support payments can be determined by agreement, most… Continue Reading
  • Study shows investors are less satisfied with their investment advisors (5/2/2019)- Following a rocky 2018 in capital markets and negative investment yields, many Canadian investors are feeling edgy about their financial holdings and report they have less satisfaction with their investment firms, according to the JD Power 2019 Canada Full Service Investor Satisfaction Study, released in April. For the first time… Continue Reading
  • Our top post-tax season planning tips (5/2/2019)- “I’ve saved the money to pay my income tax. Now all I have to do is borrow some to live on.” Lou Costello   How did you survive the tax season? You probably feel you paid more than your fair share of the $145 billion of personal income taxes the… Continue Reading
  • Creditor proofing your assets (4/17/2019)-   There are three basic objectives when planning for your retirement: Maximize your wealth: work hard and live frugally. Pay the absolute minimum tax on your income. Don't have creditors steal your retirement nest egg. Doctors do not seem to worry much about creditors. The reason for this is CMPA,… Continue Reading
  • Not happy with your investment returns? Find a new portfolio manager! (4/17/2019)- If you find that your investment portfolio manager is making more money from your portfolio than you are, you may want to put an end to this unproductive relationship quickly. The money you put aside for retirement comes from spending long hours in the practice, and you should expect that… Continue Reading

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