Specialized Accounting and Advisory for Health and Wellness Professionals Across Canada
Health and wellness professionals face accounting, tax, and HST challenges that are very different from other businesses. Between HST exemptions, incorporation decisions, payroll, structuring, and CRA compliance, this industry requires specialized knowledge and proactive advice.
MiAccounting provides accounting and advisory services for health and wellness professionals in Canada, supporting practitioners from startup through growth, expansion, and eventual exit.
Many practitioners come to us after realizing they have been charging HST incorrectly, missing deductions, or operating under the wrong structure for years—often without knowing it.
Our job is to fix the foundation early and guide growth before problems arise.
We work with all health and wellness professionals, including:
- Physiotherapists
- Chiropractors
- Acupuncturists
- Massage therapists
- Nutritionists and dietitians
- Naturopaths and osteopaths
- Mental health and counselling professionals
- Holistic practitioners and wellness coaches
- Multi-practitioner clinics and integrated wellness practices
Our focus is simple: clarity, compliance, and long-term planning that evolves as you grow.
Why Health and Wellness Accounting Is Different
HST Rules Are Complex and High-Risk
Some health services are HST-exempt, others are taxable, and many practices provide a mix of both. This is one of the most common areas where health professionals face CRA issues.
We help you:
- Determine whether services are taxable or exempt
- Register only when required
- File accurate HST returns
- Maximize Input Tax Credits where allowed
- Avoid costly over- or under-remittances
This is not an area for guesswork.
Sole Proprietor vs Corporation Decisions Matter
Many practitioners incorporate too early, too late, or for the wrong reasons.
We help you understand:
- When remaining a sole proprietor makes sense
- When incorporation actually provides tax benefits
- How to pay yourself (salary vs dividends)
- How to plan for increasing income and cash flow
The goal is to build the right structure at the right time, without unnecessary complexity.
We Grow With You — From Sole Proprietor to Complex Structures
Most health and wellness professionals start as sole proprietors. That is often the correct starting point.
As income grows, your needs change.
We work with you as you evolve:
- Starting as a sole proprietor
- Transitioning to a corporation when it makes sense
- Adding management or holding companies as complexity increases
- Adjusting structure as risk, income, and family goals change
We do not force structure early.
We introduce it only when it adds real value.
Beyond Compliance: Structuring for Growth and Protection
Operating, Management, and Holding Corporations
As practices grow, structure becomes critical.
We help design and manage:
- Operating companies for clinical income
- Management corporations for efficiency and cost allocation
- Holding companies for tax deferral, asset protection, and investing
Every recommendation is based on your full financial picture, not a template.
Estate and Succession Planning
As wealth accumulates, planning becomes essential.
We advise and coordinate on:
- Estate and succession planning
- Corporate-owned investments
- Tax-efficient wealth preservation
- Preparing for future transitions
This ensures what you build is protected and transferable.
CEPA-Informed Planning for Growth, Financing, and Long-Term Value
Our advisory approach is informed by Certified Exit Planning Advisor (CEPA) methodologies.
In practical terms, this means we help you make better decisions today by understanding how those decisions affect future growth, financing options, and long-term value.
We use this framework to:
- Position practices for sustainable growth
- Prepare owners for bank financing and lending conversations
- Ensure financials are clear, defensible, and lender-ready
- Support business planning grounded in real numbers
- Avoid decisions that limit future flexibility
You do not need to be planning an exit to benefit from this approach.
CEPA thinking improves outcomes at every stage, not just at the end.
Positioning Your Practice for Financing and Expansion
As practices grow, access to capital becomes important.
We help practitioners:
- Prepare for bank financing, loans, and lines of credit
- Present financials in a way lenders understand and trust
- Build realistic projections tied to actual performance
- Structure operations to support expansion
Whether you are opening a clinic, adding practitioners, renovating, or acquiring another practice, we ensure your financial foundation supports those goals.
Enhanced Reporting and Ongoing Financial Insight
Growing practices need more than year-end statements.
We provide enhanced financial reporting so owners always understand how their practice is performing.
This may include:
- Clear profit and loss statements
- Ongoing performance and trend analysis
- Cash flow visibility
- Financial insights that support decision-making throughout the year
Depending on your stage, reporting may be provided monthly or quarterly.
The result is simple:
you always know where your practice stands—and where it’s heading.
From Startup to Sale and Retirement
We support health and wellness professionals through their entire business lifecycle:
- Starting a practice
- Growing income and incorporating
- Expanding into clinics or group practices
- Protecting wealth through holding structures
- Preparing for practice sale, transition, and retirement
You do not need a new advisor at every stage.
We stay with you as you grow.
Our Accounting Services for Health and Wellness Professionals
Bookkeeping and Financial Reporting
- Accurate monthly bookkeeping
- Clear separation of personal and business activity
- Cloud-based systems with real-time visibility
- Monthly or quarterly reporting
Tax Preparation and Proactive Tax Planning
- Personal (T1) and corporate (T2) tax returns
- Year-round planning
- Industry-specific expense optimization
- CRA audit-ready documentation
HST Advisory and Compliance
- HST registration review
- Ongoing filings
- Mixed-supply analysis
- CRA correspondence and audit support
Payroll and Clinic Support
- Payroll processing and remittances
- Employee vs contractor classification
- T4s, T4As, WSIB, and year-end filings
Year-End Financial Statements
- Professional, lender-ready financial statements
- Alignment with tax filings and planning objectives
Who This Is For
This service is ideal if you:
- Are unsure whether you should charge HST
- Are incorporated or considering incorporation
- Operate or plan to grow a clinic
- Want proactive advice, not reactive fixes
- Want a long-term advisor who understands health and wellness businesses
Why Health and Wellness Professionals Choose MiAccounting
- Deep experience across the health and wellness sector
- Strong CRA compliance focus
- Advanced structuring and planning expertise
- CEPA-informed advisory approach
- Clear communication without jargon
- Long-term partnership mindset
Book a Consultation
If you are a health or wellness professional in Canada—from sole proprietor to established clinic owner—we can help you plan properly, stay compliant, and grow with confidence.
Book a consultation to review your structure, HST exposure, and long-term strategy.