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Having a tax accountant or a tax preparer in Toronto is a basic necessity for every company, big and small alike. They are ones whose expertise you require during the tax season for tax returns in Toronto. They make sure that the tax is filed accurately without any error. Helping the business owner in getting maximum tax savings is also the part of the job description on a tax accountant. A good professional in this field is a great asset to the company, for its financial growth.

 

Tax Returns In Toronto – An Overview



  There are two types of professionals who can take care of your taxes. There are the ones who specialize in personal taxes and the others who take care of corporate tax filing. A business owner requires the help of the later, the one who has adequate experience in corporate tax filling. These professionals either work as a part of an accounting firm or as individual service providers. They provide advice and assistance related to tax payments.

  In most cases, tax preparers work for specialized private accounting firms. These firms assist small or medium level businesses. The big corporations are covered well in this area as they have in-house accounts department.

 

The Primary Responsibility Of A Tax Preparer In Toronto



  Given under is a list of responsibilities that fall under the job criteria of a tax preparer or tax accountant:

 
  • They collect tax-related information from their clients and companies for evaluation and submission.
  • The job involves reviewing financial records and balances
  • They perform interviews and audits of the companies and the clients
  • The tax preparer will also collect and analyze the data collected to see if there is any chance of tax deductions.
  • They also explain the tax regulations and laws to the clients
  • The tax preparer advises the clients to reduce tax payments
  • They will find deductibles and ways for tax savings


  So, these are the basic role and responsibility of a tax accountant in charge of tax returns in Toronto. It is a big responsibility and you need a good professional for the task. The business owner needs to hire a professional who is reliable and has adequate experience in the field. So make sure that you hire a reputed and accredited accountant for the tax job.

  It is that time of the year. This is the time when you search for and literally dig out those old and dusty financial records and documents. This is the time when you need to pay your taxes and also file for Tax Returns in Toronto. That being said, it is obvious why you are nervous, scared and even confused. There are just so many documents to go through, so many calculations to make and so many things to take care of. At times like these, you need the help of a professional Tax Preparer in Toronto.

   

We are going to show you the few tips for finding the best possible Tax Preparer in Toronto for yourself.



    1) What is the professional’s qualification? To check this out, and this is not something overly hard to do, you need to use or see the appropriate industry directory. For looking for a tax preparer, you need to look at lists like the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications. There is a search engine in the directory itself that allows you to look for a specific individual and therefore his qualifications. Otherwise, you can just go through the lists manually.

    2) Look at the professional’s history: The next step is to ask about the professional tax preparer from the Better Business Bureau. From here you can easily see if the individual has had any disciplinary actions and what is the license status of the person. This can be very useful. For instance, you visit a professional Tax Preparer in Toronto and he says that he is licensed. On researching at the Better Business Bureau, you find that the license is still pending. That’s a red sign.

    3) Ask them about their service fees: This is one of the most important things that you can ask them. Just ask them what their Tax Returns in Toronto are, and you can see if it suits you.

    These tips may seem basic, but there are indeed very powerful. Give it a try and you’ll be amazed.

   

Our Services

Book-Keeping

We maintain the books of accounts in the computerized format using the most popular accounting software of Canada, i.e. QuickBooks. We regularly monitor Books of Accounts and Accounting Records of all clients to ensure its compliance with Accounting Standards and Procedures. We do year end closing and prepare Balance Sheet and Profit & Loss for all clients.

Taxation

Our services include Tax Planning, preparing Financial Statements and Business Plan, Filing Personal Tax Returns, Corporate Tax, GST/HST returns, HST rebate applications

Payroll Services

We prepare payroll cheques/ direct deposit, administer payroll services, issuing of T4s, ROEs. Filing WSIB returns, EHT returns, Payroll information return etc. We closely monitor the status of client’s file on CRA website to ensure its full compliances.

Tax Planning & Business Set Up

Our extensive assistance in Tax planning includes choosing the type of business, business setup, project report, Capital Budgeting, Annual Budgeting advice etc.

What's New

Filing your income tax and benefit return on time helps prevent delays in receiving your benefits and credit payments.

Important facts Most Canadian income tax and benefit returns for 2016 are due on April 30, 2017. However, as this date is a Sunday, the CRA will consider your return filed on time and your payment made on time if the Canada Revenue Agency (CRA) receives your submission by midnight on May 1, 2017, or if it is postmarked May 1, 2017.

Self-employed individuals and their spouses or common-law partners have until June 15, 2017, to file their income tax and benefit returns, but any balance owing is still due on or before April 30, 2017.

Last year, 84% of Canadians filed their return electronically.

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