We listen to our client’s past and future plans and make recommendations about how to minimize taxes for the company and the family now and in the future.
We offer bookkeeping services to self-employed individuals and companies, including data entry, categorization of expenses, payroll, remittances, and reconciliation of bank and credit card statements.
Each client can customize which bookkeeping services they want to pay for.
We prepare GST filings on a quarterly or annual basis, as requested by each client. We are able to calculate the GST collected and the GST paid given complete data through you online bookkeeping software or other method.
There are several expenses on which GST is not paid, such as insurance, bank charges, interest and foreign purchases
Sales to a client outside of Canada are exempt from GST.
We can prepare your payroll for all of your employees, including the owners of the business. This is possible through the online bookkeeping software or a dedicated payroll software.
We will inform you of the monthly remittances required to the Canada Revenue Agency
Annual returns such as employee T4s are included, with summary reports.
In a company, it may be possible to reduce the shareholder’s personal tax bill by having the company issue dividends instead of or in combination with a salary. Dividends are taxed at a much lower rate than a salary.
Rather than calculating payroll for the shareholders, they take a monthly draw in an amount to meet their personal needs. It is possible to take lump sum draws for special situations. At the fiscal year-end, we will add up the draws in order to determine the appropriate amount of dividends to declare on a T5 slip, which we will file on your behalf.
Every situation is different. We offer tax planning for companies to minimize the tax burden for the company and its shareholders.