Accounting for Eye Doctors
We provide accounting for optometrists, accounting for ophthalmologists and full accounting services for visions care centers. Our optometry business services include full online optometry accounting services as well as tax planning for eye care doctors. Vision care accounting is one of our Medical Accounting specialties.
In Ontario, eye care patients visit Optometrists for routine eye care & minor surgeries, Ophthalmologists for more serious medical and surgical treatment and an Opticians in either an Optometrist’s offices or vison care center for the dispensing of contact lens and glasses. Each medical practice requires specialty vison care accounting practices to maximize after tax income and long-term success.
Each type of eye care practice has unique accounting and taxation issues to deal with. We can ensure your integrated Optometrist billing system is compatible with all insurance systems to enable 24-hour payment received from all insurance providers operating in Ontario. We provide lease vs. buy analysis on expensive Ophthalmic equipment for your medical practice. Our vision care accounting services cover every aspect of your business.
Best Practices for Vison Care Professionals | Focus & Time Management
The average eye care practitioner operating an independent business spends approximately 10+ hours every week managing accounting functions, payroll management, and medical bookkeeping requirements. Dealing with insurance billing errors caused by inefficient accounting systems can add 2 hours a week to your responsibility alone. You are paid absolutely nothing for this time that should be better utilized helping patients and building your practice. Over a 48-month period this is the equivalent of cloning yourself, having the clone work a 40-hour workweek and paying the clone nothing.
Tax planning for eye doctors
Our tax planning for eye doctors including ophthalmologists. optometrists as well as owners of independent optical eye care centres will make a huge difference over the life of your practice. Properly setting up the financial structure and systems for your Professional corporation for Optometrists for example will have a massive influence on how much money you get to keep now, and later additional management or operating corporations will seriously improve how you successfully divest of you practice upon retirement. This is why our full accounting for eye doctors service incudes tax planning.
Professional Corporation for Optometrists
A Professional Corporation for Optometrists in Ontario must be incorporated under the laws of the Province of Ontario, not Federally. We find that there are many tax planning strategies and techniques currently available to optometrists that are not being taken advantage of by all practitioners because they seem complicated. We make it a simple process for you and your vison care practice, this is what we do everyday.
Located in Pickering Ontario, James Abbott CPA & Associates are medical accounting professionals serving all of Durham region and the GTA. If you are interested in discussing your accounting needs you can easily see Mr. Abbott’s real-time availability and schedule time with him here.