Medical Professionals

At Grewal Guyatt LLP, we have established a specialty division to service the unique tax and financial planning needs of physicians, dentists and other medical professionals. We will work closely with your other professional and financial advisors to provide holistic financial solutions that will contribute towards maximizing family wealth.

Whether you are an associate or own your own clinic, our firm has the knowledge and experience to provide you with the most effective tax and accounting advice to optimize your financial performance. We recognize the unique requirements specific to your area of medical expertise and adjust our approach accordingly. We are dedicated to staying at the forefront of the industry and sharing our findings with you, including opportunities for tax savings, regulatory changes and other factors that may impact you and your practice.

Our comprehensive approach to servicing medical professionals requires us to provide annual planning advice and tax compliance services while working closely with your other advisors. We recognize the evolving needs of our clients and ongoing changes to tax law. As a result, we tailor all of our services to meet each client’s specific needs. Our team will typically assist you with the following annual services:

• Shareholder remuneration strategy that complements your financial plan
• Corporate income tax returns and financial statement preparation
• Trust tax income tax returns
• Personal income tax returns for you and your family members
• Partnership information returns
• T4, T4A and T5 filings for management salaries, subcontractors and shareholder dividends
• Other tax filings and election forms

By understanding your short-term and long-term needs, we are able to provide you with value-added advice that will help you achieve your financial and personal goals. We offer a wide range of specialist tax and consulting services for medical professionals which includes:

• Initial setup of professional corporation and share structure
• Corporate re-organizations to optimize income-splitting strategies
• Estate planning
• Filing of various election forms and designations
• Business valuations
• Litigation support
• Representation and audit defense in matters involving tax authorities
• Advising on proposed transactions including the purchase or sale of a practice
• Other consulting services