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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  • 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
  • Splitting Income Means Big Tax Savings (10/30/2019) - When you are in the 50% tax bracket, shifting income to a family member with a 20% tax rate, could generate a 30% tax saving. So, it would seem to make sense to transfer as much income as possible to your spouse and children. Of course, it isn’t that easy.… Continue Reading
  • 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

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