If you’re an incorporated lawyer in Canada, how you choose to pay yourself isn’t just an administrative detail — it’s one of the biggest financial levers you control. Compensation decisions affect your tax bill, retirement savings, benefits, borrowing power, and even how comfortable your cash flow feels from month to month.
Selling a medical practice isn’t just a financial transaction — it’s the result of years of dedication, patient care, late nights, and professional commitment. Whether you’re planning retirement, transitioning careers, or simply ready to move forward, the sale of your practice can significantly impact your financial future. But one factor many physicians underestimate is the tax bill that follows.
Falling behind on tax obligations or missing important filings, like foreign asset declarations or GST/HST returns, can be stressful. Thankfully, the Canada Revenue Agency’s Voluntary Disclosure Program (VDP) allows taxpayers to come forward voluntarily to correct past mistakes, avoid severe penalties, and reduce interest charges.
For physicians and healthcare providers, patient care always takes priority. Still, that doesn’t excuse overlooking tax compliance. Because of the unique nature of their work, medical professionals often attract the attention of the Canada Revenue Agency (CRA).
IntroductionRunning a small business in Canada requires more than just day-to-day operations—it involves smart financial planning, compliance with tax laws, and a strong strategy for long-term success. In today’s fast-moving business environment, outsourcing has proven to be a practical solution for owners looking to lower costs and concentrate on key growth areas.
At Dexado Accounting and Tax, we offer efficient and secure cloud bookkeeping services designed to streamline your financial management. Our cloud bookkeeping service allows you to access your financial data anytime, anywhere, ensuring real-time updates and seamless collaboration. With over 12 years of experience as a CPA Tax Accountant and former CRA Auditor, we provide expert guidance to keep your books accurate and compliant with tax laws. Whether you're a small business owner or an individual, Dexado’s cloud bookkeeping service helps simplify your accounting processes, reduce paperwork, and improve overall financial visibility, all while keeping your information safe and accessible.
If you're looking for a trusted small business accountant in Montreal, Dexado CPA Accounting is here to help. We understand the unique challenges small businesses face when it comes to managing finances, taxes, and compliance. Our experienced team offers personalized accounting services designed to streamline your operations, minimize tax liabilities, and ensure your business remains compliant with local and federal regulations. Whether you're just starting out or looking to optimize your current financial processes, Dexado CPA Accounting provides the expertise you need to grow your small business with confidence in Montreal.