Designated Small Business Tax Accountants Calgary and Certified Bookkeepers For Fast, Accurate Results
That You Can Bank On ...
The Principals at Small Business Tax Accounting (Canada) Inc. have been in practice in Calgary since 2007 and in 2016 re-branded in an effort to franchise what they consider to be the best accounting and bookkeeping model in the industry with regards to accuracy, timeliness, customer service and affordability with regards to accountants and bookkeepers. You can rest assured that our Calgary accountants and bookkeepers are all professionals with the highest designations in their respective industries.
Our Accountants Calgary Strive to Offer the Best Service at an Affordable Price...
Tax Review: We save our clients $5,000 on average with a review of your previous 3 years’ personal and corporate tax returns - Performed by a Calgary Chartered Accountant
Did you know that filing corporate tax returns is an unregulated industry? Literally anyone can file a corporate tax return. You don't have to be an accountant. Unfortunately, that means that a lot of corporate and personal tax returns are being filed by people who are potentially not familiar with all of the laws, policies and procedures governing corporate and personal tax returns and many business owners have been overpaying taxes for many years! That's why we perform a 3-year review and often find many mistakes that others have made. At Small Business Tax Accounting (Canada) Inc. we pride ourselves on the fact that every single tax return is performed by a CPA - Chartered Accountant.
Fast Accurate Bookkeeping: that gives you a monthly Operating Statement so you will always know what your accounts receivables, payables and profits are
Did you know that approximately 80 to 90% of business owners don't have monthly operating statements? How do they know exactly how much money they're making or losing each month? They don't! We use Certified Bookkeepers that produce fast, accurate results that tell you exactly how much money you're making or losing in a monthly operating statement that is performed by the 5th of the following month. You always know where you stand!
Tax Planning: We complete your tax return in advance of your fiscal year-end to identify actions you can take now while they can still affect your current year’s taxes. This presents opportunities for you to minimize your taxes and improve your financial position.
How can you plan if you have no idea how much money you're making or losing in advance of your fiscal year end? Your fiscal year end is the last date of the year which your taxes need to be accounted for. While often this is December 31, smart business owners make their fiscal year end when accountants aren't so busy, away from tax time. By completing your tax return in advance, we can start planning the best way to save on taxes because for certain initiatives there is only a tiny window of opportunity to decide the best way to report, that will put the most amount of money in your pocket, tax advantaged, legally.
Tax Consulting: Corporation vs. Sole Proprietor; Salary vs. Dividend; How to take money out of your corporation tax free; Succession or exit strategy
The Canadian Tax Act is complicated and often confusing with its fair share of grey areas that are decided by CRA auditors in the event that you get audited. Most business owners don't know when to incorporate or why they might only operate a sole proprietorship. Most Calgary business owners don't know if they should be taking a salary or paying themselves via a dividend. Most business owners don't have an exit strategy and when they die prematurely, the accountant, lawyer and CRA shares in their estate's money. We believe in educating our clients. The more we educate you on what is needed, the higher liklihood that we'll be able to get it from you and have it in place in the case of an emergency. No surprises.
Personal Tax Returns: Make sure your returns are performed by a Chartered Accountant, otherwise you may be overpaying taxes
Did you know that many people who do personal tax returns for a living have only taken basic tax training with a company like H & R Block? While they are often able to help people with simple matters, they are NOT properly educated on all of the implications that a Chartered Accountant would have working knowledge of. It is scary how many people are over paying taxes every year, year in and year out.
GST Returns: Did you get a letter from CRA with a huge unreasonable amount owing that you know you don't owe? Call us. This is often just a CRA tactic to get you to respond faster than you have been.
CRA wants you to collect the proper GST amounts and remit them within the deadlines. Failure to do so can result in penalties and interest and can "red flag" your account for a potential audit, or you could get a letter for CRA saying that you owe much more than you actually do. Don't wait any longer. Call us and we can help you with relieving the pressure from CRA. There are a lot of different ways to handle these types of situations, especially if you have limited funds at this pint in time.
If we ever make a mistake, we’ll pay the penalties. PLUS... if you get audited, we'll represent you
In the unlikely event that we make a mistake, we are human afterall, not only will we fix the mistake, but we'll pay for any penalties our mistake may have garnered. As well, should CRA decide to audit you because of our error, we'll represent you free of charge.
If you feel that CRA is breathing down your neck and that it is inevitable that you will be audited, we also offer an optional fee-based audit protection service. Feel free to discuss it with us.
Did you know that many Calgary accountants raise their fees as your revenues go up? Whether you make $50k or $500k the amount of work for the accountant is the same. There's just more bookkeeping needed. We charge low monthly payments or one low annual fee.
Can you imagine? You make $50,000 and pay $900 in accounting fees. 2 years later you make $500,000 and have to pay $4,500 in accounting fees! Ludicrous! There's most likely the exact same amount of work for the accountant. It's the bookkeeper that has all of the extra work that needs to be done. There are more transactions, so more invoices, more time to do monthly reconciliations, etc. The actual time that the accountant spends is exactly the same unless they have to physically see each one of your receipts, which is called a Review or an Audited Statement. Most Calgary businesses will never need them unless they have a huge loan from a bank or unless they're a franchise or publicly traded company.