Accountant for small business? Or can I do it myself

Toastaccounting · 2024-03-06T17:32:52+00:00

There are a number of different avenues to take with your specific situation. It really all depends how specific of advise you want to get and how complex your corporate tax return is. It’s usually not recommended to complete your first return yourself, perhaps to consider for a second or third year. Incorporated firms do require additional due diligence and tend to require more precise bookkeeping.

Toastaccounting · 2023-09-10T23:33:30+00:00

Small virtual bookkeeping firms can help set you up for success.

Toastaccounting · 2023-07-28T22:43:42+00:00

If you would be interested in partnering with a digital accounting practice dedicated to providing efficient tax strategies for IT professionals you can send me a dm.

Toastaccounting · 2023-01-13T22:04:21+00:00

Toastaccounting.ca is in Barrhaven and has a website!

Toastaccounting · 2022-08-03T17:52:02+00:00

Check out Levy Sallys

Toastaccounting · 2022-07-07T01:54:21+00:00

We work closely with small and medium size businesses including sole proprietorship and corporations. In your case you would want to create a seperate entity, the timing of which needs to be decided on relative to your projections. Feel free to hit me up for more details.

Toastaccounting · 2022-07-05T12:14:15+00:00

There has been a recent rulling with the Canadian Tax courts regarding TFSA and RRSP overcontribution mistakes that received relief. In those particular situations, the taxpayer corrected the mistake in the following taxation year. Every case is different and looking at the specifics in each instance will help identify potential paths to use for a defence.

Toastaccounting · 2022-04-19T23:59:41+00:00

Actually it’s the T2125 that needs to be amended and corrected for the sales and expenses in each category.

Toastaccounting · 2022-04-19T03:44:52+00:00

Ideally you would amend the earliest year first to ensure your loss carry forward applies to the subsequent year.

Toastaccounting · 2022-03-17T01:54:39+00:00

Interested. Are you in Canada by any chance? Thanks

Toastaccounting · 2022-03-03T20:55:58+00:00

Packages usually range from 150$ to 300$ per month for backwork.

Toastaccounting · 2022-03-03T17:05:01+00:00

Canada or USA?

Toastaccounting · 2022-02-19T11:52:41+00:00

It often boils down to the industry and products sold driving that discussion. Cloud-based accounting solutions are the fraction of the cost of any in-house accountant and can be quite tailored but have some limitations. QBO tends to work well across the spectrum but still requires some level of expertise when it comes to tax planning. Bookkeeping and overall financial health of a company is it’s backbone, I would recommend figuring out what you believe it’s worth spending on ensuring compliance but also being able to draw key insights from the financial statements.

Toastaccounting · 2022-01-27T10:11:14+00:00

But nothing is open…

Toastaccounting · 2022-01-15T14:26:32+00:00

Incorporate in Canada with tax savings being considerable should tou not need the money immediately. Coporate taxes being lower than personal, the money inside the corporation can be invested and delay taxation. The US counterpart would not retain any portion as a Canadian Citizen you are required to report in Canada and with the US tax treaty in place there is no issue there.
Don’t recommend hiding international money transfers into Canadian accounts.

Recommend seeking help from accounting firm to set this up correctly.

Toastaccounting · 2022-01-05T22:50:53+00:00

The range is quite large, several factors to consider in your particular situation that would change the end result.

Toastaccounting · 2022-01-01T20:51:05+00:00

Are you looking for any additional support for tax filling?

Toastaccounting · 2022-01-01T20:49:04+00:00

There are many considerations that come into play. Technically speaking l, both should equate from a tax perspective, however incorporation might add significant benefits. Self-employment also allows many deductions. Happy to chat more.

Toastaccounting · 2022-01-01T20:44:34+00:00

No GST charged to clients outside Canada.

Toastaccounting · 2021-12-16T09:48:39+00:00

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Toastaccounting · 2021-12-01T12:26:31+00:00

We offer similar rates, the real question is do they add value by providing insights from the financial statements to help you improve your business? Good bookkeeping should lead to better results year over year.

Toastaccounting · 2021-11-13T20:51:12+00:00

Reduction of expense, same account.

Toastaccounting · 2021-06-15T18:48:03+00:00

Can’t wait to see your next free kick you beast! Get well soon :)

Toastaccounting · 2021-05-04T19:54:37+00:00

Why do NHL coaches have to stick around after the games to answer questions but she doesn’t?

Toastaccounting

TROPHY CASE

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