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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  • What Party Promises the Best Tax Breaks For You? (10/15/2019) - Here is a comparison of the Federal Parties’ election platforms dealing with corporate and personal income tax. Depending which Party forms the next government on October 21, the proposed tax changes will have a big impact on the income tax you will pay for many years to come. Corporate tax… Continue Reading
  • Anxiety, Depression and Phobias may be eligible for Disability Tax Credit (10/2/2019) - The Tax Court of Canada recently considered whether a taxpayer’s anxiety disorder qualified for the Disability Tax Credit (DTC). The taxpayer was a woman who had been diagnosed by a psychiatrist as suffering from severe social anxiety disorder. Her suffering from anxiety and depression started in high school. She graduated… Continue Reading
  • Critical Illness Insurance – It’s Worth Another Look (9/17/2019) - You have good practice income, and you are well covered by life- and disability insurance. Any additional insurance does not seem necessary. Take a look at Critical Illness (CI) insurance. Once you learn more about it, the benefits become more obvious and you will appreciate how such a policy complements… Continue Reading
  • Harnessing the Power of Compounding (9/4/2019) - If you had to choose between a gift of $5 million today or one penny that would double in value daily for 31 days, which would you pick? If you chose the compounding penny option, you are the winner. That option would give you $10,737,418 in 31 days. That’s an… Continue Reading
  • Insurance Mistakes to Avoid Insurance Mistakes to Avoid (8/19/2019) - The insurance costs for malpractice, life insurance, disability, and overhead are significant, yet many doctors spend even more money on insurance, often without receiving any more benefits. With every doctor at the early stages of the career looking for the largest death benefit at the lowest premiums, you would think… Continue Reading
  • 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

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