We’re an accounting firm for doctors and medical professionals. Whether you simply work as a doctor and need support with your accounts, or you need support with your practice, we can help.
Accounting needs and concerns vary from industry to industry. Particularly in the medical industry, a doctor, dentist, or optometrist will have different needs at tax time and so will their practices. Our experienced accountants love getting to support the medical industry through clever accounting.
When it comes to tax and compliance, the medical industry has a completely different set of rules. The structures you need implemented, keeping your practice compliant, and the actual items you’ll owe tax on are different to a typical business structure. Our team can support you with the preparation and lodgement of your tax return and keeping you compliant.
Our experienced medical accountants can help you out with your individual tax return as well. The items doctors, dentists, orthodontists, and veterinarians can claim are quite different to the professional or trade-based industries. We’ll work with you to maximise your tax return to put more cash back in your pocket.
Whether it’s to do with a business setup, an accounts management question, or something else entirely, our team of experienced medical accountants will be able to help. We’ll tailor our specialist advice to you and your practice to best support you.
As mentioned earlier, the medical industry has completely different rules when it comes to tax and compliance — which can make it slightly more complex. When it comes to items such as Fringe Benefits Tax (FBT), PAYG tax, and payroll tax, having an experienced medical accountant on your side is so advantageous.
With a team of highly experienced medical accountants on-hand, we’re able to run a financial health check for you and your practice. It means we’ll be able to advise you on a range of items around optimising and getting more out of your accounts and your practice. We can set you up with clever cash flow forecasts, budgeting advice, and amazing tips for structuring your practice better.
A medical accountant is an accounting professional with a strong understanding of the medical industry and experience managing their accounts. These accountants understand both the parameters around the health industry’s accounts as well as the opportunities the industry can take advantage of — whether that’s throughout the year or at tax time. We’re also uniquely experienced in preparing both quarterly and annual financial statements for practices that may need to report to regulatory authorities.
The medical industry needs specialised accountants to support them with their unique requirements and constraints around tax time and financial reporting. Due to the nature of the responsibilities of the healthcare industry, particularly around transparency and ethics, it’s essential they’re ticking all the right boxes and following compliance to the T.
These items will vary, depending on whether you’re a doctor, dentist, optometrist, veterinarian, podiatrist, or physiotherapist. Generally though, healthcare professionals can claim items such as:
Is medical accountant advice not quite what you’re looking for? Maybe one of our other services will suit you better.