CPA for Physicians

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CPA for Physicians

Hager-Alperowitz & Co. CPA firm also specializes in accounting for physicians, tax advisory for doctors, financial management for dentists, CPA for psychologists and psychiatrists, and all medical professions.

Physicians need a CPA who specializes in treating physicians

When people are sick, they look for the specialist physician to treat the problem. We believe accounting treatment, tax matters, and the financial affairs of physicians require similar special expertise — in professional knowledge, in years of experience and familiarity with the system, and in the level of service. At our firm, physicians are V.I.P.

Our firm has experience accompanying physicians from the very early stages of work and medical specialization through to retirement.

Each link in the process has unique characteristics in terms of income and expense levels, tax laws, tax benefits, and other accounting, business, and financial matters. Many physicians work in multiple positions simultaneously; physicians receive scholarships and grants; there are moves abroad for work and returns to Israel after several years; the establishment of a private clinic; physicians treating medical-tourism patients; medical developments in start-up companies; private surgery through insurance companies; and private medical treatments.

The resources required to develop a career as a specialist physician alongside starting a family sometimes leave no time to deal with other important matters such as bookkeeping, tax coordination, and finance. Some physicians, because of a busy life, tend to neglect these matters during the year and do not take advantage of all the tax benefits to which they are legally entitled.

Precisely for these reasons we step into the picture and consolidate all the accounting, financial management, taxation, and bookkeeping work. We are happy to be at the service of physicians, so that you can devote your best time and energy to developing your careers as specialist physicians, researchers, clinic directors, and operating-room directors. Leave it to us to represent you before the tax authorities: Income Tax, VAT, National Insurance, and Real Estate Taxation.

CPA for Physicians, Residents, and Students

Tax planning for physicians

Optimal tax planning according to the physician's personal profile. Calculation of an annual return based on forecasts of the income expected in the coming year.

Annual tax-refund check

Intended for salaried physicians who have not yet opened a file with the tax authorities and have become self-employed. Usually, the first years of physicians are characterized by work in multiple places — particularly as students, residents, and young doctors at the Ministry of Health, research funds, HMOs, medical centers, and more. Work breaks are also taken into account: pregnancy and childbirth, research years, unemployment, unpaid leave, vacations, reserve duty, and more.

Specializations abroad for physicians — Relocation

Many medical students go abroad to study, and physicians travel abroad for specialization (Fellowship). This change raises economic questions such as:

• Should one sever tax residency?
• Should one continue paying National Insurance in Israel continuously?
• Are we required to file an income tax return in Israel?

We will be glad to provide answers to all these questions and additional matters.

Private clinic

At a certain stage in their medical career, many doctors treat patients in an independent clinic. Some physicians switch to the private clinic only; for others, the clinic operates alongside hospital or HMO work. A private clinic, private surgery, professional advisory to bodies and private patients — for all these activities it is worth a properly structured legal treatment.

Exit

Some physicians are involved in technology ventures connected to the medical field. This is a taxable event in every respect, and we accompany physicians from the very first stages — through planning, contracts, and up to the coveted exit stage where the investment is realized — providing advice from planning through execution.

Retirement

At the retirement of physicians, there are tax issues related to withdrawing severance, tax benefits, capital or annuity pensions, and the like.

At our firm, CPA for physicians means top-tier service with a personal touch. We combine the most current professional knowledge with years of accumulated experience to maximize your profitability, fully realize the tax benefits available to you under the law, and reduce your tax burden.