The right accountant can mean the difference between success and failure in your practice. Not everything you can count, counts; and not everything that counts, can be counted. GEP believes in being a partner in your growth.
Medical professionals, and in particular, doctors and dentists, enjoy income splitting opportunities unique to their professions. On the other hand, they face many of the same business and investment challenges, as our other business clients. A good Chartered Accountant should also be one of your principal advisors on anything financial within your practice.
GEP understands your business and can assist you in the following:
- Overhead Expense Controls
- Review financial operating results compared to own prior performance, and also as compared to the performance of other similar practices.
We believe that a well managed, profitable practice begins with good information. If you can't measure it, you can't manage it. We will provide our clients with a periodic analysis of overhead expense, broken down into component categories that help isolate potential problem areas.
GEP provides Medical Professionals with a full range of professional, timely and cost-effective services, including accounting, tax preparation and tax consulting.
Accounting & Bookkeeping Services 
Medical Professionals can trust GEP with their bookkeeping services, so they can concentrate on growing and managing their practice.
We provide a full range of Cost-effective Accounting & Bookkeeping services, including:
- Financial Statement Preparation
- Bookkeeping (Monthly/Quarterly/Annual)
- New Business Accounting System Set-up
- Tax Return Preparation
- Payroll Services
We understand your business and can assist you in the following:
- Overhead Expense Controls
- Review financial operating results compared to own prior performance, and also as compared to the performance of other similar practices
We believe that a well managed, profitable practice begins with good information. If you can't measure it, you can't manage it. We will provide our clients with a periodic analysis of overhead expense, broken down into component categories that help isolate potential problem areas.
Our services are tailored to your needs, and there are a number of options available. In short, we monitor the financial pulse of your practice. Our fee depends on the scope of services to be provided.
Contact us today for an initial consultation.
Tax Planning
The most common complaint that Medical Professionals have is the extremely high tax payments!
Managing your income taxes is a crucial element of managing your overall practice cash flow. When you think about it, the only expense category that will
likely outweigh the income tax bill is Staff Salaries!
Tax planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience
and access to the most current tax development to minimize your tax liabilities. While we embrace the pro-active approach of tax planning and aggressively pursue all the available tax planning opportunities for our clients, we would never expose you to the unacceptable risk for tax audit, and we maintain painstakingly detailed records to support our clients' position in case of such a challenge.
We provide financial and tax advice throughout the many different stages of our clients’ business cycles. Since Tax Legislation is rapidly changing, effective personal and corporate tax advice is must for any business. Effective tax advice can give your business a competitive advantage.
Managing Your Practice including Setting up, Buying or Selling a Practice
We can assist you with review of practice valuations and purchase or sale of existing practice or setting up a new practice from scratch. We will advise you on the pros & cons of setting up a new practice, purchasing an existing practice, cost-sharing arrangements or working as an Associate. We will advise you on the optimum business structure (proprietorship or professional corporation)that suits your situation and saves tax. Every Client's situation is different and needs to be discussed in detail.
Our services include preparation of Business Plan, Cash Flow Forecasts, negotiating with banks & lease negotiations etc.
Assistance with CRA Audits
Please contact us, if you get a call from CRA or any other tax office or CRA sends you a notice for Tax Audit. We can represent you with the CRA & could possibly save you Penalty and Interest costs which can be thousands of dollars.
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