Bomcas Edmonton Accounting and Tax Services - Produits, offres, nouvelles

Small business tax accounting is the process of keeping track of your business income and expenses, and filing your business tax return to the Canada Revenue Agency (CRA). It involves reporting your business income, deductions, credits, and taxes for the year. Depending on your situation, you may need to file your business tax return online, by mail, or through a tax accountant.

Here are some steps and tips to help you with your small business tax accounting:

Choose your business structure and accounting method. You can operate your business as a sole proprietorship, a partnership, a corporation, or a cooperative. Each structure has different tax implications and requirements. You also need to choose an accounting method, such as cash, accrual, or hybrid, to record your business transactions. You should consult a tax accountant to help you decide which structure and method are best for your business.

Keep accurate and organized records. You need to keep track of all your business income and expenses, such as sales, purchases, invoices, receipts, bank statements, etc. You also need to keep records of your assets, liabilities, equity, and inventory. You should use a bookkeeping software or a spreadsheet to record and categorize your transactions. You should also keep your records for at least six years in case of an audit or a review by CRA.

Claim your eligible deductions and credits. You can reduce your taxable income by claiming various deductions and credits from the federal and provincial governments, such as the small business deduction, the home office expense, the capital cost allowance, the GST/HST input tax credit, the Canada emergency wage subsidy, and more. You should keep receipts and documents to support your claims. You can use CRA’s Deductions and credits web page to find out what you may qualify for and how to claim them.

File your tax return and pay your taxes by the deadline. The deadline to file your tax return and pay any balance owing depends on your business structure and tax year-end. For example, if you are a sole proprietor or a partner, the deadline is June 15 of the following year, unless you have a balance owing, in which case the deadline is April 30. If you are a corporation, the deadline is six months after the end of your tax year. You can file your tax return online using CRA’s NETFILE or Corporation Internet Filing service, by mail using the paper forms, or through a tax accountant who can file it for you electronically or by mail. You can pay your taxes online using CRA’s My Payment service, by pre-authorized debit, by credit card, by online banking, by telephone banking, or by mail.

If you need help with your small business tax accounting, you may want to consider hiring a professional tax accountant who can provide you with expert advice and guidance. One of the options you have is Bomcas Canada, a local accounting and tax service provider in Edmonton and Sherwood Park. Bomcas Canada offers a range of tax services for small businesses, such as:

Small business tax return preparation and filing

Small business tax planning and optimization

Bookkeeping and payroll services

GST and HST filing and remittance

Late and back tax filing and resolution

International and cross-border tax issues

Tax appeals and voluntary disclosure

Bomcas Canada has over 15 years of experience in accounting and tax services, and has a team of qualified and certified accountants who can handle any tax situation. Bomcas Canada is also an EFILER, which means that they can file your tax return electronically to CRA, saving you time and hassle. Bomcas Canada claims to be the best small business tax accountant in Edmonton, because they offer:

Competitive and affordable pricing

Free consultation and quote

Pick up and drop-off service

Local, virtual, online, and mobile service

Satisfaction guarantee and quality assurance

Friendly and professional customer service

If you are interested in Bomcas Canada’s tax services, you can contact them by phone at (780) 667-5250, by email at info@bomcas.ca, or by visiting their website at Bomcas Canada or Edmonton Tax Services.

Source:

https://bomcas.ca/edmonton-corporate-tax-accountant/

https://bomcasaccounting.ca/edmonton-bookkeeping-services/

https://bomcas.ca/personal-income-tax-return/sole-proprietorship-in-edmonton/

https://www.bomcas.com/insights/corporate-tax/corporate-tax-preparation-and-filing-in-edmonton

Corporate tax return preparation is the process of filing your corporate income tax return to the Canada Revenue Agency (CRA). It involves reporting your corporate income, deductions, credits, and taxes for the year. Depending on your situation, you may need to file your corporate tax return online, by mail, or through a tax accountant.

Here are some steps and tips to help you with your corporate tax return preparation:

Gather your corporate tax documents and information. You will need your business number, your corporation’s tax year-end, your income statements, your balance sheets, your receipts for eligible expenses, and any other relevant forms or documents.

Choose your filing method. You can file your corporate tax return online using CRA’s Corporation Internet Filing service, by mail using the paper forms, or through a tax accountant who can file it for you electronically or by mail. Filing online is faster, easier, and more secure than filing by mail. You can also use CRA’s Auto-fill my return service to automatically fill in parts of your return with information that CRA has on file for you.

Check your eligibility for deductions and credits. You may be entitled to claim various deductions and credits from the federal and provincial governments, such as the small business deduction, the investment tax credit, the scientific research and experimental development tax credit, the apprenticeship job creation tax credit, and more. You can use CRA’s Deductions and credits web page to find out what you may qualify for and how to claim them.

Calculate your taxes and balance owing or refund. You can use CRA’s online tax calculator or a tax software to help you estimate your taxes and determine if you owe any money or if you will receive a refund. You can also use CRA’s My Business Account service to view your tax information, track your refund, make payments, and more.

File your tax return and pay your taxes by the deadline. The deadline to file your corporate tax return and pay any balance owing is six months after the end of your tax year. For example, if your tax year-end is December 31, the deadline is June 30 of the following year. You can pay your taxes online using CRA’s My Payment service, by pre-authorized debit, by credit card, by online banking, by telephone banking, or by mail.

If you need help with your corporate tax return preparation, you may want to consider hiring a professional tax accountant who can provide you with expert advice and guidance. One of the options you have is Bomcas Canada, a local accounting and tax service provider in Edmonton and Sherwood Park. Bomcas Canada offers a range of tax services for corporations, such as:

Corporate income tax return preparation and filing

Corporate tax planning and optimization

Late and back tax filing and resolution

International and cross-border tax issues

Tax appeals and voluntary disclosure

Bomcas Canada has over 15 years of experience in accounting and tax services, and has a team of qualified and certified accountants who can handle any tax situation. Bomcas Canada is also an EFILER, which means that they can file your tax return electronically to CRA, saving you time and hassle. Bomcas Canada claims to be the best corporate tax accountant in Edmonton, because they offer:

Competitive and affordable pricing

Free consultation and quote

Pick up and drop-off service

Local, virtual, online, and mobile service

Satisfaction guarantee and quality assurance

Friendly and professional customer service

If you are interested in Bomcas Canada’s tax services, you can contact them by phone at (780) 667-5250, by email at info@bomcas.ca, or by visiting their website at Bomcas Canada or Edmonton Tax Services.

Other source:

https://www.canadabillboard.ca/canada/edmonton/Financial-Services/bomcas-edmonton

https://edmontontaxservices.ca/

https://taxalberta.com/edmonton-corporate-tax-accountant/

https://taxedmonton.ca/corporate-tax-accountant-and-their-benefits-in-edmonton/

https://taxca.ca/services/corporate-tax-accountant-edmonton/

https://canadataxaccountants.ca/

https://albertataxservices.ca/the-complete-guide-to-corporate-tax-preparation-in-edmonton-alberta/

Personal tax preparation is the process of filing your income tax return to the Canada Revenue Agency (CRA). It involves reporting your income, deductions, credits, and taxes for the year. Depending on your situation, you may need to file your tax return online, by mail, or through a tax preparer.

Here are some steps and tips to help you with your personal tax preparation:

Gather your tax documents and information. You will need your social insurance number, your income slips (such as T4, T5, T3, etc.), your receipts for eligible expenses (such as medical, childcare, tuition, etc.), and any other relevant forms or documents.

Choose your filing method. You can file your tax return online using CRA’s NETFILE service, by mail using the paper forms, or through a tax preparer who can file it for you electronically or by mail. Filing online is faster, easier, and more secure than filing by mail. You can also use CRA’s Auto-fill my return service to automatically fill in parts of your return with information that CRA has on file for you.

Check your eligibility for benefits and credits. You may be entitled to receive various benefits and credits from the federal and provincial governments, such as the Canada child benefit, the GST/HST credit, the Alberta family employment tax credit, the Alberta climate leadership adjustment rebate, and more. You can use CRA’s Benefits and credits web page to find out what you may qualify for and how to apply for them.

Calculate your taxes and balance owing or refund. You can use CRA’s online tax calculator or a tax software to help you estimate your taxes and determine if you owe any money or if you will receive a refund. You can also use CRA’s My Account service to view your tax information, track your refund, make payments, and more.

File your tax return and pay your taxes by the deadline. The deadline to file your tax return and pay any balance owing is April 30, unless you or your spouse or common-law partner is self-employed, in which case the deadline is June 15. However, you still have to pay any balance owing by April 30 to avoid interest charges. You can pay your taxes online using CRA’s My Payment service, by pre-authorized debit, by credit card, by online banking, by telephone banking, or by mail.

If you need help with your personal tax preparation, you may want to consider hiring a professional tax accountant who can provide you with expert advice and guidance. One of the options you have is Bomcas Canada, a local accounting and tax service provider in Edmonton and Sherwood Park. Bomcas Canada offers a range of tax services for individuals, businesses, and corporations, such as:

Personal income tax return preparation and filing

Corporate tax return preparation and filing

Bookkeeping and payroll services

GST and HST filing and remittance

Late and back tax filing and resolution

International and cross-border tax issues

Tax planning and optimization

Tax appeals and voluntary disclosure

Bomcas Canada has over 15 years of experience in accounting and tax services, and has a team of qualified and certified accountants who can handle any tax situation. Bomcas Canada is also an EFILER, which means that they can file your tax return electronically to CRA, saving you time and hassle. Bomcas Canada claims to be the best personal tax accountant in Edmonton, because they offer:

Competitive and affordable pricing

Free consultation and quote

Pick up and drop-off service

Local, virtual, online, and mobile service

Satisfaction guarantee and quality assurance

Friendly and professional customer service

If you are interested in Bomcas Canada’s tax services, you can contact them by phone at (780) 667-5250, by email at info@bomcas.ca, or by visiting their website at Bomcas Canada or Edmonton Tax Services.

Other source:

https://www.taxedmonton.com/

https://albertataxservices.ca/tax-accountant-in-edmonton/

https://accountantsedmonton.ca/services/tax/personal-tax-accountant-edmonton/