Medical Students & Residents
Get your personal income tax return done right. We can do it for you free of charge.
Whether you are just starting med school, or have just completed your last year in residency, you can rest assured that our experts at Welch LLP are here for you. With over 100 years of experience, we understand each stage of your professional journey and can provide you with proactive holistic advice that can take care of your needs from your first days in residency through to retirement.
To qualify for this complimentary service, you must be a full-time medical, dental, or veterinary student or resident in 2024. The complimentary tax compliance is limited to the preparation of Canadian personal tax returns for you and your spouse.
Please note that this complimentary service offering is for basic personal tax returns for medical students and residents only. If you have a more complicated personal tax situation (e.g., multiple sources of other income, etc.),you can still reach out to us for a free quote.
We recognize that medical students can benefit from our expertise, but may not be in a financial position to incur fees while in school. While there are numerous free tax prep softwares out there, having a professional chartered accountant do them for you will give a head start in the long-term.
Save Time and Reduce Stress
There’s no need to add more workload on top of your studies, clinical rotations, and exams. Tax preparation can be time-consuming and complex, especially if the scholarships, loans, or part-time income is involved. We can handle this, allowing you to focus on your academics without the added stress of tax filing and more deadlines.
Maximize Deductions and Credits
Did you know your expenses, such as tuition, study materials, and clinical supplies, may be deductible? A professional accountant can identify these opportunities and ensure that you take full advantage of all eligible tax deductions and credits, potentially reducing the amount of tax owed.
Planning for your Future
Med students often face unique financial situations during their studies, such as student loans or income from research or internships. Our experts can offer guidance on how to manage your finances, plan for future tax implications (such as income after graduation), and make informed decisions about savings, investments, and retirement planning.
How Welch LLP Can Help
We provide ongoing advice and support to healthcare practitioners based on their financial, tax and strategic planning needs.
Complimentary 1 hour consultation & tax planning support meeting to review your personal tax situation. We will consider common tax planning matters, including the effective use of TFSAs and RRSPs to get you through medical school, residency, and beyond.
Use of Welch’s tax return questionnaire to ensure that all applicable personal tax return matters are addressed. The questionnaire ensures that all income and deductions are properly identified.
Access to your personal tax return and related schedules via our secure portal. Receipt of tax reporting data via our portal to ensure a safe transmission of personal tax information.
E-filing of personal tax returns with the Canada Revenue Agency and the Quebec Minister of Revenue, if applicable.
