Specialized Accounting Services for Chiropractors
At SAL, we bridge the gap between chiropractic and accounting. Our services go beyond reader statements and corporate tax returns. We manage your revenue streams and insurance reimbursements with 60% fewer denials!
Build Your Dream Practice: Accountant for Chiropractors in Toronto.
Maximize Your Savings.
Insurance claims and patient payments delay cash flow for 30% of chiropractors. We examine EOBs against patient ledgers and bank records to save you money.
Spend Time Wisely.
Over 45% of chiropractors dread time-consuming tax filings that may cost $10,000 if they miss deductions. We process OHIP billing, saving you 20+ hours monthly.
Stay Compliant & Safe.
Over 70% of healthcare providers face $25,000 HST penalties for failure to comply, especially for mixed supplies. We promise 100% CRA audit clean records.
Grow Without Stress.
Over half of chiropractors report stagnant revenue. With clear plans for growth and expansion, our accountants for chiropractors in Toronto boost profit margins to 60%+.
Top Services from Our Expert Accountants for Chiropractors in Toronto.
Tax Planning & Preparation
- Corporate (T2) tax return planning
- Personal (T1) tax return preparation
- Income splitting based on Section 125 of the Income Tax Act
- Maximize capital cost allowance (CCA) deductions
- Catching all available deductions and credits
- CRA audit representation
- T2200 documentation for employed chiropractors
- HST/GST audit assistance
Financial Statement Preparation
- Canadian ASPE-compliant financial statement preparation
- Monthly, quarterly, and annual financial reports
- Custom KPI tracking, such as patient acquisition costs
- Break-even analysis per treatment type conduction
- ROI assessments on equipment purchases
Practice Acquisition Services
- Expert practice valuation assessment
- EBITDA multiples (typically 3-5x) to assess valuations
- Understanding goodwill value based on patient retention rates
- Smooth transitions during buy-ins or buy-outs
Payroll Services
- Calculating wages, tax liabilities, and government remittances
- Partnership with ADP for automated payroll processing
- Timely payroll management for both owners and staff
- Managing T4 filings and compliance
HST & Sales Tax Compliance
- 100% HST compliance for zero-rated services
- Compliance with Canada Revenue Agency (CRA) regulations
- Timely HST filings to claim input tax credits
- CRA reviews and audit preparation
- Approved refund claims for allowable expenses
Business Incorporation
- Professional corporation setup for chiropractors
- Evaluating business structures (corporation vs. sole proprietorship)
- Maximum shareholder lifetime capital gains exemption (LCGE)
- Correctly structured incorporation by legal partners
- Tax-efficient compensation strategies (salary vs. dividends)
Reliable Accountants for Toronto's Chiropractors.
Over 75 leading chiropractors have worked with us to streamline their finances. We guarantee 100% insurance claim clearance and healthcare billing compliance.
Find Out Why Toronto's Top Chiropractors Choose Our Accountants.
Using modern healthcare accounting platforms like QuickBooks and Xero, we help hundreds of chiropractors expand their businesses.
See how our chiropractic business accountant in Toronto helped our clients “improve their finances and achieve higher profits.”
Approved Claims
Save time for your clients; our reliable insurance billing system suffers enough.
Timely Data
Check your practice's financial situation quickly using our protected, 24/7 dashboard.
100% Compliance
100% Compliance
What Toronto Chiropractors Say About Our Expert Accountants.
100% Satisfaction Guaranteed or Your Money Back!
Money-Back Guarantee
Only pay when we handle your chiropractic accounting, ideally. You always come first.
0% CRA Risk
Worried about CRA audits? Relax; SAL provides your practice with free audit support.
Transparent Pricing
Our chiropractic practice accounting in Toronto always comes with clear prices.
Reasons Professional Chiropractors in Toronto Trust Our Accountants.
#1 Industry-Specific Accountant for Chiropractors in Toronto.
Salaried Employees & Residency Students
Managing substantial student debt (averaging $50,000) with a limited income is hard. SAL supports your career from start to finish. We budget for loan repayment and itemize tax deductions like continuing education and professional fees.
Sole Proprietors (Non-Incorporated)
Say goodbye to high personal tax rates and inaccurate bookkeeping. We offer top bookkeeping services for chiropractic clinics in Toronto. We maximize allowable tax deductions and ensure compliance with CRA regulations to increase your practice’s net income.
Incorporated Pharmacists
No more high corporate taxation or missing deductions. We help you create the best tax-efficient compensation structure by analyzing the benefits of salary versus dividends. Trust our team and say goodbye to tax burdens.
Sports Chiropractic Practices
Your practice revenue can dip by up to 30%, especially during off-seasons, which is a huge problem. We control your fluctuating income with the best financial planning for chiropractors in Toronto. It mostly includes expense tracking and forecasting.
Pediatric Chiropractic Care
Most pediatric chiropractors struggle with high claim denial rates, averaging 15%. Billing for children’s services is complicated, but our CPA knows how to approve 100% of your claims on the first try, quickly enhancing revenue and cash flow.
Chiropractic Clinics with Physiotherapy Services
Offering both of these services leads to diverse revenue streams, which can be difficult to manage. We set custom KPIs for each service line: revenue per visit, patient retention rates, and overhead ratio. This increases your practice’s profit by 15-20% annually.
A Message from Our CPA
Hi there, the founder of SAL Accounting is here! My healthcare accounting team supports chiropractors’ financial services. Knowing this field well, I understand chiropractors’ challenges, from cash flow and HST compliance to tax optimization. We help your practice financially so you may focus on patient care. Let us manage the numbers to help your practice grow!
M. SALMAN
Meet Your Dedicated Accountants for Chiropractors in Toronto.
Sarah Zeyneb
Jazz Thind
Alex Hart
M.SALMAN, CPA
FAQs: Accountant for Chiropractors in Toronto.
What kind of challenges can your accountants solve for chiropractors in Toronto?
Our team at SAL has got you covered when facing any accounting challenges. We manage your variable sources of income and their fluctuating condition by cash flow planning. We also manage accounts receivable using QuickBooks and Xero and accurately categorize your expenses, from clinical equipment to professional fees. We track irregular insurance payments and maximize chiropractic industry deductions.
How much money should I pay for tax planning?
Successful chiropractic clinics usually set aside 25–30% of their monthly revenue for taxes. However, our chiropractor financial advisor in Toronto can reduce it to 15% or less with wise strategies. We catch all deductions such as medical equipment depreciation, continuing education expenses, and strategic use of Health Spending Accounts (HSAs).
What expenses can your accountants claim to reduce my practice’s taxable income?
We deduct many expenses to claim and safeguard your practice’s income.
- Office expenses include rent, utilities, property taxes, office supplies, cleaning, and clinic upkeep. Some of these expenses are deductible if you don’t work from home.
- We claim some of your medical equipment as capital expenses to catch annual deductions.
- Malpractice, business liability, and other practice-specific insurance premiums are deductible.
- Continued professional education, licensing renewals, and Canadian Chiropractic Association memberships are deductible.
- Marketing expenses, including website design and operation, digital advertising, print materials, and local sponsorships, are deductible.
- Deductible business-related travel expenses include conventions and meetings. Meals related to business activity are usually 50% deductible.
Which structure is better, sole proprietorship or corporation?
We help you choose the most tax-efficient structure for your chiropractic practice. If you earn over $150,000 annually, we suggest business incorporation. It can save your practice $15,000-$25,000 in yearly taxes.
I offer various treatment services. How should I handle HST?
Around 75% of clinics make HST errors with mixed supplies. No worries; we manage it for you. Our clients usually report an average of $3,000 annually through expert HST structuring and recovery of Input Tax Credits (ITCs) on eligible expenses.
How do you handle insurance claims and receivables?
Poor receivables management can lead to an 8–12% revenue loss. Our CPA won’t let it happen. With a 48-hour insurance submission window, we prevent claim denial. We also offer biweekly reconciliation, and our automated follow-up system leaves no room for errors.
How do you prevent CRA audits?
Toronto healthcare practices typically have a 3.5x higher audit risk than average companies. We offer 100% CRA compliance and handle it for free if audited, so there is no room for concern. With digital receipt tracking, quarterly financial reviews, proper treatment coding, and personal/business expense separation, we protect you from CRA audits.
Do you support me as a chiropractor with retirement plans?
Yes, we do. Our accountants provide chiropractors with the best retirement plans in Toronto. These plans involve an Individual Pension Plan (IPP), practice equity building, and strategic real estate investment. It helps you get ready for retirement 40% faster than usual.
How much time should I spend on my accounting after partnering with the SAL team?
Our accountants take care of everything, and you only need 15 minutes free per month to manage everything. It includes answering our questions or uploading supporting documents. Yet, we may need more during tax season to ensure everything complies with CRA and healthcare regulations.
Where is SAL Accounting located?
We are in the heart of downtown Toronto. Our office address is 330 Bay Street, minutes from Union Station and CN Tower.
Get Your FREE Consultation with Our Accountants for Chiropractors in Toronto.
We are here if you are tired of seeking an accountant for chiropractors in Toronto! From tax planning to HST compliance and all points in between, concentrate on your patients as we handle your finances. Book your FREE consultation and see how our chiropractic accounting solutions may help your practice grow!