Income & Business Taxes
We have been filing Income Tax Returns for a large client base for over 30 years. We have experience dealing with all areas of income tax services, including preparation of your return, filing “Adjustments” to previous returns, filing late returns, and explaining the issues and costs involved. We can help when the Tax Return becomes too complicated, or you no longer want to take the job on yourself.
For some people, dealing with Canada Revenue Agency (CRA) is not an experience they treasure; but, with your authorization, we can talk to CRA on your behalf and straighten out any issues or misunderstandings that may exist. We are your advocate and can explain and translate correspondence from CRA, and answer any questions you may have.
For your assistance and convenience, we have created a list of possible items you may need to help you plan and organize your various slips and receipts for the tax season. Download our Tax Checklist.
Most small business owners do not want to look after their own bookkeeping, let alone complete their own income tax return. For most small business, the “shoebox system” works fine, and we are able to take that information and produce the necessary documents for filing your tax return. Once the “shoebox system” is no longer satisfactory, we can set up a computerized bookkeeping system and help your small business stay on top of filling the GST returns, payroll remittances and other activities required.
Some common small business issues:
- GST review, preparation and filing
- All monthly reporting
- Financial statement review
- Financial statement analysis
- Income tax preparation and filing
Download our Business Expense Summary Worksheet; this form can help with fiscal year-end report completion or can be used for monthly record keeping.
Corporate Taxes can be a complicated matter which can lead to many questions, and we can assist in answering them. We can also assist with the many procedures required to keep a corporation rolling forward. We find that, because of continual changes in the corporate tax arena and the ever-present possibilities of something new arising, there is a constant need to touch base with your accountant throughout the year to review and update information, and to chart the corporate direction. This includes reviewing financial statements, planning dividend allocation, reviewing capital gains and possible exemptions, and linking these issues with your own personal tax return so you get the best possible tax outcome.
Some common corporate issues:
- Tax preparation
- Tax planning
- Shareholder structure
- Issues regarding dividends
- Linking corporate returns to personal returns
“To incorporate or not to incorporate?”
We get this question a lot and I am afraid the answer is not that simple because it depends on the individual and his or her tax issues. The two main reasons to incorporate are: 1) lower tax rates, and 2) decreased liability (in some cases). Let us know your specific situation and we can explore the question of whether or not to opt for incorporation.