Small Businesses Services

Small Business Services

Entrepreneurs are driven by their passion for their vision and ideas. However, the reality of managing a business can be overwhelming, especially when it comes to accounting. Many entrepreneurs may not have the time, space, or knowledge to take care of this crucial aspect of their business. We understand the challenges that come with being a small business owner, and we’re here to help. Our accounting services allow you to focus on what you do best, while we take care of the rest.

Two women consulting data on the computer

Consulting

Unlock your business’s full potential by optimizing its structure. Maximize profits and minimize taxes with expert advice.

Small Business Tax Credits Claim Return Deduction Refund Concept

Small Business Tax Return

Maximize your savings and optimize your finances with a smart tax strategy that will help you make the most of deductions and minimize your payments.

Company employee holding accounting bookkeeping documents checking financial data or marketing

Bookkeeping

With dedication and persistence, accurate record-keeping can be conquered.

Women's hands fill out a questionnaire.

Compliance Filing

HST, WSIB, Payroll Deduction, EHT, T4 Summary, T4 and T5 Filing

Payroll 80

Payroll

Managing timekeeping, creating paychecks, processing direct deposits

Banking Credit Card Money Concept

Bank and Credit Card Reconciliation

Our efficient and accurate reconciliation processes empower small businesses, saving valuable time to focus on growth.

Businesswoman checking financial reports and statements

Financial Statements

Optimize your small business growth by receiving detailed financial statements on a monthly, quarterly, or annual basis.

Businessman Planning Budget

Budgeting

By harnessing the power of budgeting, you can pave the way towards financial stability and a secure future.

Business women working at desk in office

Forecasting

Unlock the power of forecasting to predict future outcomes by analyzing past events and utilizing management knowledge.

Two businessman consult analyzing company financial cash flow result. Concept for teamwork business

Cash Flow Projections

By utilizing Cash Flow Projections, you gain a comprehensive understanding of your financial inflows and outflows, empowering you to make informed and enlightened decisions.

Auditor Business women checking annual financial statements of company. Audit Concept

Audit Preparation

With our assistance, you can confidently prepare your business’ year-end or CRA audit binder and tackle the audit with ease.

Email Us

Simply fill out the form, and let us know how we can assist with your accounting needs.

Call Us

Simply call us, and let us know how we can assist with your accounting needs.

Book an In-person Meeting

79 Martin St, Milton, Ont (Appointment Only)

Small Business Tax Checklist

In Canada, corporation is a separate legal entity as per the income tax law. If you earn income in a corporation, you have to file a separate tax return (T2) for your business income and can’t be combine in (T1)

  • Last year notice of assessment if filing for the first time with us.
  • Last year’s return if filing with us for the first time
  • Copy of incorporation papers for the first time filer with us
  • All T-slips the corporation received T4A/T5/T3 etc
  • GST/HST details for the tax year
  • Financial statements – if already prepared
  • Invoices and receipts, payroll information, bank statements in CSV format for the bookkeeping done by us
  • Account payable and receivable at end of the fiscal year
  • Employee deductions payable at end of fiscal year
  • Invoices from sales or services
  • Sales records if any
  • Accounts receivable at end of fiscal year if on cash basis
  • Any other source of income, returns and allowances
  • Business chequing/savings account interest
  • Opening inventory total dollar amount
  • Purchases during year
  • Ending inventory total dollar amount
  • Materials and supplies
  • Advertising
  • Meals and entertainment: receipts should have a name of person and the purpose of the meeting/event
  • Vehicle expenses – fuel, insurance, lease/finance, payments with interest, repairs, maintenance, parking, car washes
  • Mileage log or kilometers driven for business purposes
  • Payroll data for employees; statement of account forcurrent source deductions if bookkeeping done by client.
  • Other employee expenses taxable or tax free
  • Professional fees – lawyers, accountants, and consultants
  • Office supplies and expenese
  • Interest expense – business loans, investments expensesand interest
  • Business travel expenses
  • Rent/property tax
  • Utilities/heat hydro, phone, internet
  • Accounts payable at end of fiscal year (cash basis)
  • Business assets and liability Insurance
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If you work from home, you may be able to deduct a portion of your home offices expenses. The tax rules differ, depending on whether you file as a sole proprietor or for a corporation. List of expenses are as under:

  • Mortgage interest
  • Property tax/rent
  • Utilities – heat/hydro/phone/internet
  • Home insurance
  • Home maintenance and repair costs

Capital assets cannot be expensed in the year acquired but must be depreciated over the period of time. Record of Purchase and sale all Assets should be maintain. Example of capital assests are as under:

  • Vehicles used for business
  • Machinery and equipment
  • Tools
  • Buildings if owned by corporation.
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