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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  • Maximizing Your Interest Expense Deductions (1/7/2020) - Here are some tax planning tips to make the most of interest expense write offs. There are three tests you must meet in order to deduct interest on borrowed money. There must be a legal obligation to pay the interest. This can become an issue with family loans if the… Continue Reading
  • Tax Changes Becoming Effective January 1, 2020 (1/7/2020) - As part of the federal tax changes which came into effect January 1, 2020, there is an increase in the basic personal which is being phased in over four years until it reaches $15,000 in 2023. For 2020 the exemption amount increased to $13,229 from $12,069. The benefit is about… Continue Reading
  • When Your TFSA Income Becomes Taxable (12/23/2019) - The TFSA is a great choice to build wealth because the income accumulates tax-free. However there is one instance when the income inside the TFSA becomes taxable, and that is on US dividend stocks. Under US tax law, there is a 30% withholding tax on dividend income for non-US investors.… Continue Reading
  • A Portfolio With a Crazy Low Management Fee of 1/10 of 1 Per Cent (12/23/2019) - Management fees can take a big bite out of your investments. $100,000 invested for 20 years at 8% will yield $470,000. With a 2% management fee, the investment shrinks to $325,000, a drop of $145,000 or 30% of the portfolio. You are basically paying 150% of your original $100,000 investment… Continue Reading
  • The Best Book on Investing Ever Written (12/10/2019) - The greatest practical investment thinker and one of the best investors was Benjamin Graham. When the book; " The Intelligent Investor” was first published in the 1950s, it was hailed as the best book about investing to the general public ever written. It still is today. Here are some of… Continue Reading
  • Charitable Giving Costs Less Than You Think (12/10/2019) - Making a donation before December 31, 2019 not only benefits your favourite charity but also reduces your income taxes. The amount of tax savings depend on whether you make a cash donation or a gift of assets, including the securities, artwork or real estate (referred to as “gifts in kind”).… Continue Reading
  • Year-End Tax Saving Strategies for Doctors (11/24/2019) - As we approach the year-end, there is no better time than now to compile your checklist of tax saving strategies to reduce your income tax bill for 2019. Reduce tax on shareholder draws If you took large draws from your corporation, which would normally be reported as dividends on your… Continue Reading
  • How Much Retirement Income Do You Need? (11/24/2019) - In order to provide the best possible advice to clients, a financial planner needs to take into account: What should be the asset allocation for the particular client? How much income can the client safely withdraw to ensure that the investments do not run out during his/her lifetime? The U.S… Continue Reading
  • Top 7 financial mistakes doctors make (and how to avoid them) (11/12/2019) - Dr. James Dahle is a practising emergency physician in the US and the author of “White Coat Investor”, a popular financial guide for doctors. In one of his blogs he lists the big mistakes doctors make in handling their finances. Poor debt management This one begins when many medical students… Continue Reading
  • Five Habits of Successful Investors (10/30/2019) - Poor investment returns can be blamed largely on investor behaviour rather than the performance of the investment. According to the research, investors deserve the blame because they lack the discipline and patience to weather stock market dips. How can you become a better investor? Have written goals: Write down your… Continue Reading

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