Accounting & Tax Services
Professional accounting services can save you a lot of money by increasing business efficiency and allowing you to make better financial decisions. If your company’s funds aren’t managed properly, it could lead to the failure of the business.
While many small business owners believe they can manage their company’s finances on their own, they often realize too late that they can’t handle every aspect of accounting, including new tax regulations, while trying to grow the business. This is where we can help.
Our accounting and tax services include the following:
Year end financial statement preparation
Year end financial statements are necessary to help you determine your business’ financial position at a specific point in time and over a period. The also set the foundation for future planning.
Corporate tax return preparation
Every business in Canada has to file an annual tax return. We can navigate through all the corporate tax forms and schedules that you need for the preparation of your company’s income tax.
Personal tax return preparation
Doing your personal taxes correctly and on time is important to avoid extra tax, penalties and interest. Even if you had little or no income in a given year, in order to receive the benefits and credits you might be entitled to (e.g. the Canada Child Benefit Tax or GST/HST tax credit) you must file a tax return.
Bookkeeping is an extremely important part of operating your business. We can help you track your company’s financial transactions by identifying, sorting, and categorizing them to better manage and monitor the company’s financial performance. We can provide this service for you or train you to do it yourself.
Importance of financial statements
Financial statements provide important information about your operations, financial position, and cash flow. The following make use of the statements to make decisions regarding the allocation of resources:
- Business owners
- Banks and lending institutions
- Tax authorities
- Board of Directors and members
- Government funders.