Tax Issues Example

To respond efficiently to the increasing and new needs of people in health issues, it is
necessary for nurses to develop their knowledge from hospital to society and to be equipped to
play entrepreneur role in different levels of care.
The findings of the present study show that Iranian nurses are confronted with various problems
and barriers to enter entrepreneur nursing and keep going in this area. By focusing on such
barriers and applying appropriate changes, policymakers and planners in health can facilitate
nurses entering into this activity.
Legal limitations were another barrier mentioned by the entrepreneurs that included three sub-
themes: Bureaucratic licensing problems, inflexible tax laws, and inadequate insurance
coverage.
Inflexible tax laws One of the barriers mentioned by the entrepreneurs was lack of tax supports
such as tax exemption, discounts, and encouragements for private businesses. One of the
entrepreneur nurses said:
“Tax Office has always bothered us for taxes. When we started our business, it was small, but
tax system didn’t consider us a small business. They treated us exactly the same way as they
treated large institutes. Not only did we enjoy tax exemption, but we also were fined
sometimes.” (65-year-old woman)
Tax Issues

Business Taxes
As a business owner, you will be responsible for paying a variety of local, state and federal
taxes. These can include income tax, much like employees pay on their income, plus additional
payroll taxes, business licenses and permits, sales and use taxes, and self-employment taxes.
Example 1:
Tax and Accounting Services for Nursing Corporation
Healthcare accounting for the nursing corporation is complex. Nursing professionals need to
invest a significant amount of time taking care of their finances and records. Coupled with
increasing demands for accountability, consistently changing regulations, and intense public
scrutiny, managing a company in the healthcare industry is challenging. Forming a nursing
corporation is challenging but can be very rewarding. Running a busy medical practice requires
tackling accounting and tax compliance issues that most doctors and nurses never anticipated
before opening their doors.  The health industry is drastically changing by the minute due to
intensive ongoing research. Moreover, to accommodate patients, there are always new laws
and discoveries coming out. In such a changing industry, financial managers are faced with
significant challenges that they have to tackle. Since they handle the funds, all changes have to
go through them. 
All business owners need to budget, plan, and monitor their business performance.  It is clear
by now that medical offices work on the same structure as business organizations. Therefore,
the need for a robust accounting department is a basic need. We know the pitfalls of the nursing
industry and look forward to working with you to build your business and grow your wealth. 
Our skilled accountants have decades of experience in providing tax, accounting, and payroll
services to healthcare practitioners. We can take over bookkeeping, accounting and other time-
consuming but necessary tasks so you have more time to spend with your patients. And our
proactive tax planning strategies will keep your practice in compliance with the latest Canadian
Federal and State tax laws while minimizing your tax burden.

Reference:
Jahani, S. (2016). Iranian entrepreneur nurses’ perceived barriers to entrepreneurship:

A qualitative study. National Library of Medicine. Retrieved February 28, 2023,

from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4776560/

How to become a nurse entrepreneur –incorporation, accounting, and tax. (2021, September
28). Filing Taxes. https://filingtaxes.ca/how-to-become-a-nurse-entrepreneur-incorporation-
accounting-and-tax/