FAQ's
Find answers to common questions about our accounting, tax, and financial services.
Can you file corporate tax returns from my trial balance?
Yes, we can prepare corporate tax returns based on the trial balance you provide. However, it’s essential that the numbers are accurate and logically structured. This process involves a question-and-answer session to ensure confidence in the numbers. The cost typically ranges between $600 to $1,200, depending on the complexity and time involved.
Do you provide financial statements and corporate tax returns from my trial balance, and what is the cost?
Absolutely, we can assist you in preparing Compilation Financial Statements and corporate tax returns based on your trial balance. This comprehensive service includes a thorough examination of your trial balance, bank reconciliations, general ledger details, asset transactions, comparisons with GST returns, and a dialogue to provide you with the assurance needed to sign the Report. The combined package, including the corporate tax return, typically falls in the range of $1,850 to $2,400, based on the provided information and accompanying report notes.
Do you offer full-service bookkeeping, including GST, payroll, tax returns, and financial statements, and what is the cost?
We do provide full-service accounting, which can cost an additional estimated $250 per month to start. The exact pricing depends on the volume of work and the time required for monthly accounting. It’s challenging to quote an hourly rate for accounting services since the complexity can vary significantly. This package includes our tax advice and planning, along with other tax-related services as needed. If a situation surpasses my expertise, we consult tax lawyers to ensure you receive the best advice.
Can you assist with business plans for loan applications?
Yes, we offer assistance with business plans for loan applications. These plans include future-oriented data and reports and are created with considerable experience. The cost can range from $1,000 to $2,500, depending on the complexity of your specific situation.
I'm a non-resident living in Texas, and I have a property to sell in Canada. can you handle the Canadian Taxes?
Non-residents selling Canadian real estate face a unique situation. The funds from the sale are held by the lawyer until specific forms are filed with the tax department and a clearance is obtained. This process can take up to 9 months, based on our experience.
Can you help me appeal my tax assessment?
Yes, we can assist with tax assessment appeals. If you provide the details promptly, we can handle appeals up to the Queen’s Bench if necessary. The initial objection must be filed within 90 days of the assessment. Afterward, there is a waiting period of several months for the appeal papers to be reviewed in detail.
I want to rent my house and move into a rental temporarily. can you advise me on the tax consequences?
Certainly, we regularly handle such scenarios. Whether it’s the best time to declare your house as a rental property and your condo as your new residence depends on various factors, including the current appraised value of your house. We can explore options that allow you to retain your house’s status as your principal residence while you are temporarily away.
Can you assist with estate planning for my family?
We can work with you on various aspects of estate planning. This may include discussing RRSP options and exploring alternatives, especially since you have a business. We collaborate with experienced insurance brokers to create comprehensive plans, including key man insurance for you and life insurance with built-in retirement plans for your spouse. Additionally, we assist with investment plans, tax-free savings accounts, and other tax-efficient options. We can also help plan for your children’s financial futures and ensure the legacy of financial security continues for generations.
Do you provide incorporation services for companies?
Yes, we offer incorporation services tailored to your needs, complete with customized Articles that align with our tax strategies for your company. We’ve adjusted Articles and minute books for corporations multiple times to ensure tax plans work seamlessly. Our incorporation services are reasonably priced.