SME Accounting
Accountant for health professionals in Quebec: find your specialized expert
17/7/2026
Are you a doctor, dentist, pharmacist, or another healthcare professional in Quebec? Your accounting and tax situation is unique. Dealing with things like incorporating your practice, managing a joint-stock company (SPA), figuring out deductions specific to your field, and planning for retirement, a specialized healthcare accountant can really make a difference. This guide explains why, how to choose one, and how much it costs.
Unlike a typical entrepreneur, healthcare professionals operate within a unique regulatory framework. Your professional order (like the College of Physicians, Order of Dentists, or Order of Pharmacists) sets strict rules for your practice's structure, incorporation, and share ownership. A general accountant might not fully understand these specific rules, causing you to miss out on significant tax savings.
Healthcare professionals face tax challenges that few other sectors encounter:
Since 2007 in Quebec, doctors have been able to incorporate their practices. Dentists, pharmacists, optometrists, and chiropractors also have this option. Setting up a joint-stock company (JSC) is often the most powerful way for high-earning health professionals to save on taxes.
Let's say a doctor earns $400,000 a year and doesn't need all that cash to live. They can leave a big chunk of it in their company. Instead of being taxed at the maximum marginal rate of 53%, the income kept in the JSC is taxed at around 26.5% (that's the combined federal-provincial rate for active income in a private company). This is a huge tax deferral that lets you invest and grow your money much faster.
An accountant who specializes in your industry will know exactly how to guide you in setting up and managing this structure for the best results.
Beyond just the professional JSC, many doctors and dentists set up a management company (often called a 'holdco') that owns the shares of their professional company. This two-tier setup offers even more benefits:
Setting up this kind of structure really needs an accountant who knows all the ins and outs for health professionals. Anti-tax avoidance rules, especially TOSI (Tax on Split Income), have made income splitting much more complex since 2018. Only a specialized CPA can help you navigate these rules correctly.
In Quebec, many professional orders let their members practice through a company. Here are the main health professionals who can really benefit from having a specialized accountant:
Doctors have the most complex tax situation among health professionals. With RAMQ income, flat fees, emergency bonuses, on-call shifts, and clinical research, their income sources are all over the place. Incorporation is super beneficial for specialists earning over $300,000 a year. The Collège des médecins du Québec has strict rules for practicing through a company, especially about who can own shares.
Dentist clinic owners have to manage both their professional practice and a full-blown business. We're talking expensive equipment (dental chairs, digital X-rays, 3D scanners), employees (hygienists, assistants), and a whole inventory of materials. A dental clinic's accounting is actually more like that of a small or medium-sized business than a doctor's practice. Capital Cost Allowance (CCA) deductions on equipment are a major tax advantage.
Owner pharmacists manage a retail business on top of their professional practice. This means dealing with medication inventory, staff management, margins on over-the-counter products, and pharmaceutical services billed to RAMQ. Bookkeeping is especially demanding because of the huge volume of daily transactions. A specialized accountant knows exactly how to optimize inventory management and maximize all the deductions you can claim.
Optometrists, chiropractors, physiotherapists, and psychologists in private practice all face similar challenges: managing a clinic, dealing with mixed billing (RAMQ + private patients + insurers), and the option to incorporate. Even if their incomes are generally lower than specialist doctors, incorporation becomes a smart move as soon as the professional can regularly save $25,000 or more per year.
Find an accountant who understands the realities of your medical profession. Bankeo connects you, free of charge, with the ideal expert from among more than 1,500 accountants.
Find my accountantThe first step for most healthcare professionals is incorporating as a professional corporation. A specialized accountant will help you with:
One of the biggest decisions for an incorporated professional is figuring out the best mix of salary and dividends. This choice directly affects:
A specialized accountant will do tax projections every year to adjust this mix based on your personal needs, age, and plans (like buying property, retirement, or kids' education).
Accounting for a healthcare professional's practice involves:
Healthcare professionals usually don't have a defined benefit pension plan. So, a Professional Corporation becomes a key retirement tool. Unlike an RRSP, which has to be converted to a RRIF at 71 (with mandatory withdrawals), a Professional Corporation doesn't require any conversion or mandatory withdrawals. A CPA specializing in taxation will plan your gradual withdrawals to keep your overall tax burden low during retirement.
The fees depend on how complex your practice is, how many structures you have (like a professional corporation or a management company), and the services you need. Here's a quick look at estimated rates for 2026:
| Service | Non-incorporated professional | Professional corporation only | Professional corporation + 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 might seem high, a specialized healthcare accountant usually helps you save between $20,000 and $50,000 in taxes each year by optimizing your business structure. The return on investment is almost immediate! To compare accountant fees in Quebec, check out our full guide.
A specialized accountant makes sure you claim all the eligible deductions. Here are the main categories:
Professional orders require mandatory continuing education hours. These expenses are fully deductible:
Not all CPAs are created equal when it comes to accounting for health professionals. Here are the key things to look for to make the right choice:
Get ready for your first meeting with our guide to preparing for your accountant meeting.
Trying to find a specialized healthcare accountant on your own can take weeks, and there's no guarantee you'll find the right fit. Bankeo makes it super easy:
Whether you're a general practitioner in Montreal, a dentist in Quebec City, or a pharmacist owner in a regional area, Bankeo has you covered across all of Quebec.
Doctors, dentists, pharmacists: find the perfect accountant for your practice in just a few clicks. It's free and there's no obligation.
Find My Specialized Healthcare Accountant
Healthcare professionals often make the same common mistakes with their accounting and taxes:
The Order of CPA s of Quebec suggests reviewing your tax planning every year, especially if your income has changed by more than 10% or if your family situation has evolved. For a self-employed healthcare professional thinking about incorporating, the best time is often at the start of a new fiscal year.
Most professionals who are part of a professional order can incorporate, including doctors, dentists, pharmacists, optometrists, chiropractors, and psychologists. Each order has its own rules about practicing as a corporation. Make sure to check with your professional order for the specific conditions that apply to your practice.
Initial incorporation costs typically range from $3,000 to $8,000 (that's accounting fees plus legal fees). This depends on whether you choose to set up just a professional corporation or a professional corporation with a management company. Usually, these costs pay for themselves within the first year thanks to the tax savings.
Incorporating usually becomes a good idea when you can regularly save $25,000 or more per year. For specialist doctors earning $300,000 or more, it's almost always beneficial.
The SPA (professional corporation) is the structure that runs your professional practice and receives your fees. The management company (holdco) is a second company that holds the shares of the SPA. It helps protect accumulated investments, makes it easier to transfer the business between generations, and can give you access to certain tax breaks.
If a doctor is only salaried, their accounting needs are simpler. However, most doctors in Quebec have a mixed income (RAMQ + private clinic work), which makes a specialized accountant a good idea.
Commonly forgotten deductions include continuing education and conference fees (including travel), interest on loans for buying shares in a clinic, home office expenses (if applicable), and recruitment costs for replacement staff.
No, a pharmacist owner has retail business management needs (like inventory, margins, and a larger staff) in addition to professional accounting. Their bookkeeping is usually more complex because of the high volume of daily transactions.
Yes, you can change accountants at any time. The best time to do it is after your annual tax returns are filed to avoid any transition complications. Your new accountant will request the files from your previous firm.
Absolutely. Bankeo connects healthcare professionals with specialized accountants from its network of over 1,500 accountants in Quebec, free of charge. You choose the number of accountants you wish to meet.
The most commonly used software includes QuickBooks and Sage for general accounting, often paired 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 full comparison.
General information provided for guidance purposes only, reflecting current 2026 tax rules. It does not replace the advice of a CPA: always consult a professional for your specific situation.
Bankeo account pairing is 100% free, always. You only pay your accountant directly.
We can present you with the right accountant from our network, for your needs, with as many profiles as you require.
We will support you for as long as necessary. We will remain by your side.
Your request will be processed within a maximum of 48 working hours.
