SME Accounting
Accountant for healthcare professionals in Quebec: Find your specialized expert
July 17, 2026
Are you a doctor, dentist, pharmacist, or other healthcare professional in Quebec? Your accounting and tax situation is unique. From incorporating your practice to managing a corporation (SPA), to industry-specific deductions and retirement planning, a Accountant specializing in healthcare makes all the difference. This guide explains why, how to choose one, and how much it costs.
Unlike a traditional entrepreneur, healthcare professionals operate within an individual regulatory framework. Your professional association (College of Physicians, Order of Dentists, Order of Pharmacists) imposes strict rules regarding the structure of your practice, incorporation, and share ownership. A general accountant may not be familiar with these specific requirements and could cause you to miss out on significant tax savings.
Healthcare professionals face tax challenges that few other sectors encounter:
Since 2007 in Quebec, doctors have had the right to incorporate. Dentists, pharmacists, optometrists, and chiropractors also have this right. Incorporation in corporation (SPA) is often the most powerful tax optimization tool for a high-income healthcare professional.
In practical terms, a doctor who earns $400,000 a year and doesn’t need all that money to live can leave a significant portion in his or her practice. Instead of being taxed at the maximum marginal tax rate of 53%, income retained in a private corporation (SPA) is taxed at approximately 26.5% (combined federal and provincial tax rate on a private corporation’s operating income). This is a significant tax deferral that allows you to invest and grow your capital more quickly.
A An accountant specializing in your industry will guide you through setting up and effectively managing this structure.
In addition to professional limited liability partnerships (LLP), many doctors and dentists establish a management firm (holdco) that holds the shares of the professional corporation. This two-tier structure offers additional benefits:
Setting up such a structure requires an accountant who is familiar with the rules specific to healthcare professionals. Anti-tax-avoidance rules, particularly the TOSI (Tax on Split Income), have made income splitting more complex since 2018. Only a specialized CPA can navigate these rules correctly.
In Quebec, several professional associations allow their members to practice as part of a professional corporation. Here are the main healthcare professionals who benefit from having a specialized accountant:
Doctors have the most complex tax situation among healthcare professionals. RAMQ income, flat-rate fees, on-call premiums, on-call shifts, clinical research: there are many sources of income. Incorporation is particularly advantageous for specialists whose annual income exceeds $300,000. The Collège des médecins du Québec strictly regulates Practicing as a Corporation with specific rules regarding the composition of the shareholder base.
Dentists who own their own clinics must manage both their professional practice and a full-fledged business: expensive equipment (dental chairs, digital X-ray machines, 3D scanners), employees (hygienists, assistants), and inventory of supplies. The accounting for a dental clinic is more similar to that of an SME than to that of a medical practice. CCA on equipment is a major tax benefit.
Pharmacist-owners manage a retail business in addition to their professional practice: drug inventory, staff management, profit margins on over-the-counter products, and pharmaceutical services billed to the RAMQ. The bookkeeping is particularly demanding due to the volume of daily transactions. A specialized accountant knows how to optimize inventory management and maximize eligible deductions.
Optometrists, chiropractors, physical therapists, and psychologists in private practice face common challenges: managing a clinic, mixed billing (RAMQ + private patients + insurers), and the option to incorporate. Although their income is generally lower than that of medical specialists, incorporating becomes advantageous as soon as the professional can consistently save $25,000 or more per year in a CELI or TFSA.
Find an accountant who understands the realities of your medical profession. Bankeo connects you for free with the ideal accountant from among more than 1,500 accountants.
Find my accountantThe first step for most healthcare professionals is to Incorporation as a corporation. A specialized accountant can assist you with:
One of the most important decisions for a vetted professional is to determine The optimal split between salary and dividends. This choice has a direct impact on:
A specialized accountant prepares annual tax projections to adjust this allocation based on your personal needs, your age, and your plans (buying a home, retirement, children in school).
The Accounting for a healthcare practice means:
Healthcare professionals generally do not have defined-benefit pension plans. The SPA therefore becomes an essential retirement vehicle. Unlike an RRSP, which must be converted to a RRIF at age 71 (with mandatory withdrawals), the SPA does not require any conversion or mandatory withdrawals. A CPA specializing in Taxation plans your phased withdrawals to minimize your overall tax burden in retirement.
Rates depend on the complexity of your practice, the number of entities (SPA, management company), and the services requested. Here is a rate schedule Estimated rates for 2026 :
| Service | Unincorporated professional | Sole Proprietorship | SPA + management company |
|---|---|---|---|
| Annual Bookkeeping | $1,200 - $2,000 | $1,800 - $3,000 | $2,500 - $4,000 |
| Tax Returns (T1 + T2 + CO-17) | $800 - $1,500 | $2,000 - $3,500 | $3,500 - $5,500 |
| Annual Tax Planning | $500 - $1,000 | $1,000 - $2,000 | $1,500 - $3,000 |
| Initial Incorporation (Accountant + Lawyer) | N/A | $3,000 - $5,000 | $5,000 - $8,000 |
| Estimated total annual cost | $2,500 - $4,500 | $4,800 - $8,500 | $7,500 - $12,500 |
Even though accounting fees may seem high, an accountant specializing in the healthcare sector typically generates tax savings of $20,000 to $50,000 per year by optimizing your structure. The return on investment is almost immediate. To compare the Accounting Rates in Quebec, check out our comprehensive guide.
A specialized accountant ensures that you claim all the Eligible Deductions. Here are the main categories:
Professional associations require mandatory continuing education hours. These costs are fully tax-deductible:
Not all CPAs are created equal when it comes to accounting for healthcare professionals. Here are the essential criteria for Make the Right Choice :
Get ready for your first appointment with our A guide to preparing for your meeting with an accountant.
Searching for an accountant specializing in healthcare on your own can take weeks and doesn’t guarantee you’ll find the right match. Bankeo makes this process easier:
Whether you’re a general practitioner in Montreal, dentist in Quebec or a pharmacist who owns a pharmacy in a regional area, Bankeo covers all of Quebec.
Doctors, dentists, pharmacists: find the ideal accountant for your practice in just a few clicks. It’s free and there’s no obligation.
Find my accountant specializing in healthcare
Healthcare professionals often make the same mistakes when it comes to accounting and taxes:
The Ordre des CPA du Québec recommends reviewing your tax planning every year, especially if your income has changed by more than 10% or if your family situation has changed. For a Self-employed healthcare professional For those considering incorporation, the ideal time is often the start of a new fiscal year.
Most professionals regulated by a professional association can incorporate their practices, including doctors, dentists, pharmacists, optometrists, chiropractors, and psychologists. Each professional association has its own rules governing the practice of medicine as a corporation. Check with your professional association to find out the specific conditions that apply to your practice.
Initial incorporation costs range from $3,000 to $8,000 (accounting and legal fees), depending on whether you opt for a SPA alone or a SPA with a management company. These costs generally pay for themselves in the first year thanks to tax savings.
Incorporation generally becomes advantageous when you can consistently save $25,000 or more per year. For medical specialists earning $300,000 or more, the benefit is almost always present.
The SPA (corporation) is the entity through which you conduct your professional practice and receive your fees. The holding company (holdco) is a separate entity that owns the shares of the SPA and serves to protect accumulated investments, facilitate intergenerational transfers, and provide access to certain tax exemptions.
If a doctor is solely a salaried employee, their accounting needs are simpler. However, the majority of doctors in Quebec have a mixed income (RAMQ + private practice fees), which makes a specialized accountant necessary.
Commonly overlooked deductions include continuing education and conference expenses (including travel), interest on loans used to purchase shares in a clinic, home office expenses (if applicable), and expenses related to hiring temporary staff.
No, a pharmacist-owner has retail management needs (inventory, profit margins, a large staff) in addition to professional accounting requirements. Their bookkeeping is generally more complex due to the high volume of daily transactions.
Yes, you can switch accountants at any time. Ideally, you should do so after filing your annual tax returns to avoid any transition complications. Your new accountant will request the files from your previous accounting firm.
Absolutely. Bankeo Bankeo connects healthcare professionals with specialized accountants from its network of over 1,500 accountants in Quebec, for free. You choose how many accountants you’d like to meet.
The most commonly used software programs are QuickBooks and Sage for general accounting, combined with clinic management software (EMR) for billing. Your specialized accountant can recommend the best combination for your practice. Check out our Guide to Accounting Software in Quebec for a comprehensive comparison.
General information provided for informational purposes only, based on known 2026 tax rules. It is not a substitute for the advice of a Chartered Professional Accountant (CPA): always consult a professional regarding your specific situation.
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