Money Management Workshop

Each year, BCACC partners with MNP to offer our members expert guidance on the financial challenges unique to running a clinical counselling practice. These are designed to help you navigate everything from practice growth and tax compliance to retirement planning, so you can focus on your clinical work with confidence and peace of mind.

This year the topics are:

Session 1: Growing Your Practice

This session explores the financial and operational considerations when expanding your clinical counseling practice.   Participants will learn:

• Contractor vs. employee classifications & compensation structure : Understanding CRA requirements for T4A vs. T4 slips, tax withholding obligations, paying associates and fee arrangement considerations
• Payroll and tax compliance: Setting up compliant payroll systems, managing CPP and EI contributions, and year-end reporting requirements dos and don’ts
• Administrative: expense tracking systems, and bookkeeping best practices as you scale
• Growth Strategies – Organic, Startup, Acquisition : financing, legal and tax considerations to be mindful of as you look to expand your practice  

Session 2: Retirement Planning for Counsellors

This session addresses retirement planning strategies specifically for self-employed clinical counsellors in Canada. Participants will learn:

• RRSP strategies for self-employed professionals: Maximizing contribution room, understanding tax-deferred growth, and self-directed RRSP options
• TFSA vs. RRSP considerations: Determining which registered savings vehicle is most advantageous
• CPP optimization: How to contribute to CPP as a self-employed person (paying both employer and employee shares) and when to start collecting benefits
• Retirement savings benchmarks
• Long-term financial planning: Building emergency funds, planning for irregular income months, and integrating personal wealth goals with practice growth