Business tax returns
I offer my business clients the peace of mind in knowing that their interests are well represented.
Specializing in business tax preparation, I guide my business clients to minimize taxes.
I provide advice and services for the following:
- Sole Proprietorship or Partnership
- Business HST Filing
- Specializing in self-employment in a variety of industries
Hear from my happy 🙂 clients
My clients love working with me, read what they have to say!
The Tax Preparation Process
Gathering
All tax slips and pertinent information is gathered to start preparing your return.
Clarifying Questions
I contact you if I have any questions or need any clarification while I am working on your return.
Completion
Once your tax return is completed, I will review your tax return with you either in person, virtual meeting, or via telephone call.
Payment
Collect payment (Cash, e-transfer or certified cheque). View Pricing
Finalize
Tax return will be E-filed.
Additional Support
You will receive your Notice of Assessment. I will assist you with any CRA inquiries, reviews, re-assessments after taxes have been filed.
Business Tax FAQ's
You will need signed T2200 form, “Declaration of Conditions of Employment” from your employer. There are also additional requirements, based on the types of expenses you incur.
No, the traveling cost from home to work and work to home is considered personal expenses.
Yes, you may claim additional expenses, which may not be allowed to salaried employees such as property tax and insurance for home office expenses. Employment expenses are limited to commission income plus capital cost allowance and interest on car loan.
You need a signed T2200 from your employer to claim employment expenses. You should keep all the receipts and detailed log sheet of kilometers driven for business and personal.
A passenger vehicle is an automobile purchased or leased after June 17, 1987. Most cars, station wagons, vans, and some pick-up trucks are passenger vehicles. Passenger vehicles are subject to the limits for capital cost allowance, interest, and leasing costs.
Yes, you can, unless leasing cost exceeds $800 per month, then the lease formula would be used to calculate allowable deduction.
You should take following factors into account:
- How many miles are you expecting to travel? If you expect to have a lot of mileage then most leasing companies, charge additional fees over certain mileage. This information should be specified in leasing contract. You have to determine how much extra you have to pay over specified mileage. Then it might not be to your advantage to lease a car.
- How often do you change a vehicle? Are you the type of person who changes a vehicle after 2 to 3 years or do you like to keep the same vehicle for 5 to 10 years. It is better to lease if only keeping the vehicle for a short period of time.
- Do you have Cash flow? Do you have enough cash to purchase a vehicle. If not, it may be more beneficial for you to lease. Since leasing a vehicle is easier for a person with bad credit rating.
Incorporation does make sense due to limited liability concept, splitting income, lower tax burden etc. If you would like to know whether you should incorporate your business or not and for further information here is a link for a trusted recommended referral for this inquiry plus other services that may be of interest to you.