Online Accountants for Pharmacies and Medical Clinics
We specialize in online accounting and tax services for pharmacies and medical clinics in Canada. Our team works with pharmacists, physicians, dentists, and healthcare professionals operating single-location pharmacies, multi-doctor clinics, or incorporated medical practices.
As virtual accountants for healthcare businesses, we manage bookkeeping, payroll, GST/HST filing, and corporate tax returns, ensuring CRA compliance and maximizing deductions. With our online accounting support, you can focus on patient care while we handle your finances efficiently and accurately.
Accounting and tax solutions for pharmacies, medical clinics and healthcare professionals
Some of our clients are newly incorporated pharmacists looking for guidance with professional corporation tax returns and bookkeeping setup. Others are experienced doctors and dentists managing multiple income sources, HST exemptions, payroll services for clinic staff, and rising operational costs. Our online accountants for medical clinics and pharmacies in Canada simplify your finances, handle CRA compliance, and ensure accurate reporting. We help you stay organized, profitable, and focused on what matters most your patients.
- Corporate and personal tax return filing (T2, T1, T2125)
- Bookkeeping and payroll for clinic and pharmacy staff
- GST/HST registration, filing and adjustments
- Pharmacy inventory accounting and cost of goods sold tracking
- CRA audit help and representation
- Expense tracking and healthcare business deductions
- Professional corporation setup and tax planning
- Financial statement preparation and year-end compliance
- Budgeting, cash flow forecasting and practice profitability review
- Advisory for incorporation and restructuring healthcare businesses
- Compensation strategy for pharmacists (salary vs dividends)
- Tax planning for multi-practice and multi-location clinics
Get Clarity on Where Your Practice Stands
A lot of pharmacy owners and clinic professionals we meet are busy working full-time in their business but rarely get a clear picture of how it’s actually performing. Are your margins shrinking due to rising rent or inventory costs? Are you keeping enough aside for CRA? Are you tracking eligible deductions like software, continuing education, or uniforms? Without accurate books and financial statements, you’re just guessing.
Tax Preparation
Monthly Bookkeeping
Monthly Payroll
Financial Advisory
Keep More of What You Earn
Our approach to medical practice accounting is proactive and results-driven, designed to improve both your clinic’s profitability and your personal financial outcomes. We review your daily operations, identify CRA-approved deductions for healthcare professionals, and keep your records compliant with all accounting and tax regulations.
From maximizing claims for Continuing Medical Education (CME) and professional membership fees, to optimizing your professional corporation tax structure and managing accurate pharmacy inventory accounting, we uncover tax-saving opportunities many general accountants overlook. Our goal goes beyond filing your returns we focus on creating a tax-efficient structure that helps you retain more of your income and strengthen your long-term financial health.
our suggestions
We know, your challenges aren't generic.
For many healthcare professionals, the hardest part isn’t patient care; it’s managing the administrative weight that comes with running a clinic or pharmacy. Month-end reconciliation, payroll compliance, pharmacy inventory tracking, CRA remittance deadlines, T2 deadlines and keeping personal spending separate from the corporation become overwhelming quickly. That’s where specialized tax and bookkeeping for pharmacies and medical clinics makes a massive difference.
Implement strategic salary/dividend draws to minimize personal tax exposure over time.
Transition to a perpetual inventory method that auto-calculates accurate Cost of Goods Sold (COGS).
You’ve fallen behind on mandatory GST/HST and payroll remittances.
Separate these funds into a dedicated tax savings account immediately after collection.
Chasing clients and forgetting what’s been paid can leave you short on cash flow and stressed when bills are due.
Hiring apprentices or helpers means payroll, deductions and remittances. Doing it wrong risks penalties and CRA reviews.
Cash-heavy industries get flagged often. Without proper records, audits become stressful, time-consuming, and expensive.
Before you can fix the gaps, you need to see where you stand. Answer a few quick questions
GET YOUR FINANCIAL BENCHMARK ASSESSMENT
Let’s assess…
Do you know your real profit after expenses?
Are you claiming every eligible deduction?
Is it time to bring in a expert accountant?
Work with Accountants Who Understand The Healthcare Industry
CRA Tax Strategy
Stay compliant and avoid overpaying with proactive planning.
Financial Visibility
Gain clear insight into your numbers before making business decisions.
Audit-Ready Records
Reliable systems that keep your clinic or pharmacy compliant year-round.
Compensation Strategy
Structure salary and dividends for optimal tax efficiency.
Healthcare Practice Insight
Receive guidance tailored to how Canadian medical businesses truly operate.
Year-Round Support
Get expert guidance anytime for all your tax and accounting needs with Year-round support
About the company
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
Get In touch
+1 647-243-2884
available from 10:30 – 22:30
40 Wynford Dr Suite 301, North York, ON M3C 1J5, Canada
Email info@instaccountant.com