Strategic Tax & Accounting for Optometry Practices
Navigate complex HST rules for optical retail, optimize your Professional Corporation, and build long-term wealth with Teixeira Accounting's specialized advisory for optometrists.
Balancing Clinical Care with Retail Profitability.
Optometry is a unique hybrid business model. You are simultaneously managing a highly regulated clinical practice and a competitive retail eyewear operation. This duality creates significant accounting complexity, particularly regarding inventory valuation, cost of goods sold (COGS), and intricate HST applications.
At Teixeira Accounting, we understand the financial mechanics of an optometry practice. We help you segregate your clinical revenue from your retail sales, optimize your associate agreements, and structure your Optometry Professional Corporation (OPC) to retain maximum capital.
Clinic Overhead Analyzer
Are your retail inventory costs and clinic expenses eating into your margins? Adjust the sliders below to evaluate your overhead ratio against industry benchmarks.
Clinic Overhead & Profitability Analyzer
Evaluate your clinic's overhead ratio against industry benchmarks and identify potential tax-optimized savings.
By optimizing tax strategy and operational efficiency to hit the 50.0% benchmark.
This tool is for general information only and does not replace professional tax or accounting advice.
Clinical Equipment ROI Calculator
Evaluate the financial viability of purchasing new diagnostic or treatment equipment for your practice.
The time required to recover the initial capital investment, before accounting for CCA tax deductions.
This tool is for general information only and does not replace professional tax or accounting advice.
Optical Retail & HST Complexity
The Canada Revenue Agency (CRA) heavily scrutinizes optometry practices due to the complex application of HST. While clinical eye exams are exempt, the sale of prescription eyewear is zero-rated, and the sale of non-prescription sunglasses or accessories is fully taxable.
Because your revenue streams have mixed tax statuses, you cannot simply claim 100% of your Input Tax Credits (ITCs) on your rent and overhead. We implement precise allocation methods to ensure you claim the exact ITCs you are legally entitled to, protecting you from devastating CRA reassessments.
Operational Advisory
Inventory Management
Optimizing COGS tracking for frames and lenses to ensure accurate gross margin reporting for your retail operation.
Associate Agreements
Structuring independent contractor agreements to mitigate payroll tax risks and clarify fee splits.
Optometry Accounting FAQs
Expert answers to common tax questions for Canadian optometrists.
Ready to Optimize Your Practice?
Stop letting outdated accounting hold your practice back. Partner with a dedicated CPA firm that understands the business of optometry.