Professional Accounting Firm In Mississauga
A Professional Accounting Firm provides multiple services that are required to handle the different business activities like accounting and tax filings. At Filing Taxes, a Professional Accounting Corporation, we have professional accountant who will assist you in meeting your financial and tax requirements.
Our Professional Accounting Is Here to Help
Professional Accounting Firm In Mississauga
In Canada, every business from small to big corporations, has to file their income tax returns for every financial year within a stipulated time. There are many reasons to offload your accounting and taxation jobs to a Professional Accounting Firm. At Filing Taxes, we understand your tax filing requirements and work according to the laws to file the tax returns with our professional tax accounting services in Mississauga.
The individuals who have to file their tax returns have to get the details according to the income sources of T1 tax returns regarding their personal incomes. We will assist you in filing your employment income for the financial year and help you determine the applicable income Tax as well.
Moreover, we help the small businesses in filing taxes, depending on the business structures like a sole proprietorship and partnership firms have to report their income statements according to the tax returns for T1 personal income returns. We consider you and your business as equal. The package of T1 income tax return is devised according to the professional activities included in the income of the business.
Important Documents Required
The report of income for the incorporated businesses is filed as per the T2 corporate tax returns. Such businesses are considered as a separate entity in comparison with the business owner and his business. So it is their duty to file their own tax return. It includes some important documents like -
- Receipts for Medical and dental treatment payments
- RRSP contribution slips
- T3 ( for the income from charitable Trusts)
- T4 slips (for the employees and having a business income)
- T4A (for the commissions earned and self-employed individuals)
- T5 (for income in investments)
- T5013 (for the income in partnership firms)
Business & Personal Tax Accountant
The hiring of a professional for filing the business tax returns is essential. It is so because missing a single entry can result in a huge amount of penalties payable and issuance of statutory notices for non-compliance with the tax regulations from the Canada Revenue Agency. It can also reduce the chances of getting tax rebates and deductions out to you. At Filing Taxes, our professional accountant is trained and familiar with the experience of deductions that a business can claim along with the filing of tax returns.
Some applicable deductions are:
- Gifts presented to employees.
- Experimental development and Scientific research deductions for business involved in research and development.
- Home renovation and transfer of ownership for business including home based owners.
The rules regarding the vehicle business expenses, travel-related expenses, marketing expenses and other related expenses framed by the Canada Revenue Agency. We are familiar with these rules and ensure the exact value of the taxes payable for these expenses.
Bookkeeping Services In Mississauga
Our comprehensive bookkeeping and accounting services allow the customers to fully focus on their daily routine business activities. Our services include many bookkeeping services in Mississauga such as:
Financial forecasting and budgeting
Preparation of Bank reconciliation statements
Accounts and bills payable
Our experts will assist you in looking forward to the budget estimations along with the cash inflows and outflows. Whenever you have to make any major financial decisions such as business expansion and growth or employment of new employees and their expenses, we are always there for you.
The bookkeeping accountants will help you in making a true and fair comparison between your account books in the accounting softwares like QuickBooks and the bank statements. This comparison is made on a weekly, monthly, semi-annually or annually basis according to your requirements.
You can easily pay your bills through online banking methods like cheques, debit and credit cards, or other transfer methods. But you may not be familiar with the various methods to record these transactions properly. However the growing business can't take the load of your bills payable, so you can give us a chance to process your payments without any delay.
Invoicing and receipts receivable
We assist our clients to provide the receipts of payments to record them properly through invoicing. We will send you an annual report regularly for the customers who have not paid your money.
The main objective of bookkeeping is to give a clear idea about the financial position of your business enterprise. It is the one and only way to plan the future of your organization. Our bookkeeping service providers in Mississauga will provide financial reports for your income statements, balance sheets and cash flow statements for the financial years. As a professional accountant we can also prepare dashboards to provide the financial stability and forecast related to profitability, efficiency and effectiveness of employees, and marketing strategies for business growth and expansion.
Other Bookkeeping Services In Mississauga
We provide other bookkeeping services such as-
- Bookkeeping in quick books
- Preparing journals and ledgers
- Preparing income statement and trial balances
- Reconciliation of employees salary
- Nonprofit- friendly bookkeeping and accounting.
Specialists In Incorporation
At Filing Taxes, we will help you in incorporating your small business through any of the incorporation methods. We will assist you in filing the forms for your business or nonprofit-friendly firm or for any firm in a specific province. We will also assist in filing articles of incorporation along with supporting documents with the government.
According to the law, an incorporation notice must be filed before 60 days of incorporation with the government who can pursue the decision of consumer services. If the business is dissolved due to any reason, our professional accountant will carry on the process of the dissolution of the firm according to your choice.
HST Net files
Many Canadian provinces have formally approved a new tax policy, the Harmonized Sales Tax. HST has systematized the Sales tax in the provinces in collaboration with the Goods and Services Tax provided by the government. In Ontario, a percentage of 13% was introduced as HST to be payable since 2010. We will ensure the right amount of sales tax and track the record of your HST liabilities and its filing.We also offer some other beneficial services such as calculation of tax liabilities, zero-ratings, and the rebates and exemptions for the taxes paid or payables.
Our professional accounting services in Mississauga will assist you in filing the form of HST or GST returns while keeping in mind about the collection and remittances of HST by the business from their clients and reporting it to the Revenue Agency of Canada. According to the law, you have to pay the HST for the reporting period whether you have collected it or not. We will help you file the HST/GST Returns within the reporting time only without any delays. We will also help you in calculating the expenses related to HST/GST Returns that qualifies the tax credits for you excluding the ineligible expenses for the business.
Tax Management & Consultancy Services Mississauga
We will assist you in the internal audits as well as the evaluation of reports that will help in improvement of the efficiency and effectiveness of your business. We will guide you in building great strategies for tax accounting in Mississauga and the resource allocation abilities of the business. We also work for the newly-established firms that specifically require internal auditors and much more along with the independent Chartered accountants in Mississauga.
Our disciplined employees follow a systematic approach for the evaluations and help the business to improve their performances such as
- Establishing effective and efficient controls.
- Prevention of any frauds and risks with regular investigations.
- Ensuring proper and timely operations to save the assets and resources.
- Preparing reliable reports and managing reports.
- Securing the confidential information in the computer systems and softwares used by the business.
- Compliance with the statutory rules and regulations.