- When my sole-proprietor taxes are prepared, which documents do I need for my tax preparer?
- Which business costs can I claim as tax-deductible expenses?
- What tax records do I need to keep for my business?
- When filing corporate taxes, which documents do I need for my tax preparer?
- What is the most appropriate tax structure for my business?
- Is it difficult to change Mainville & Associates/Associés Inc. accountants? How?
- How do I schedule a consultation with Mainville & Associates/Associés Inc.?
- Does my bookkeeper need to be certified?
This is a great question and one that we often get! There are several forms that you will need, such as ones that show income, business and home expenses, and car repairs and travel expenses. Our best advice is to get in touch with us as these forms have different titles depending on your location. We can give you a more detailed list of what you need and where to find it.
There are many business costs that you can claim as tax deductibles and some that you cannot. For example, some business gifts can be written off, but others cannot. The boundaries can sometimes be blurred on what qualifies as a tax-deductible expense. Having one of our tax preparers help you with your business tax filing can clear up all of your questions.
We would advise you to keep all documents that show income or deductions along with your tax records for seven years. Please contact us for more detail.
You are going to need several income and expense documents. To save yourself time, the best thing you can do is set up an appointment with us https://www.arrowpointtax.com/pages/book-an-appointment and let us go over the documents you need. If you do not have them, we can help you find them through the CRA. Filing corporate taxes can be a long and difficult process - let us help.
There are three different business structures:
- Sole proprietorships
Each one is treated differently by tax law. Having one of our accountants work with you can help outline what tax laws apply to your business.
No. The whole process is a lot easier than you may think! Once you find a new accountant that you like, you or your accountant can send a takeover letter to your former accountant. This will allow all your files and information to be released and taken over by your new accountant.
In one word: Yes. Having a certified bookkeeper is very important, especially if you are a small business owner. You will most likely end up saving money in the end if you pay a little more for a certified bookkeeper. With their training and experience, they will surely find any possible errors that might otherwise cost you in overpaid taxes and penalties.