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St Albert Farm and Agriculture Accountant – BOMCAS

BOMCAS St Albert Farm Agriculture Accountant Services specializes in Bookkeeping, Payroll for Corporate, Small and Medium size Business and Tax preparation and filing for Corporation, sole proprietorship and individual personal tax. We serve clients throughout Sherwood Park, Edmonton and surrounding areas. Local and virtual accounting services provided in order to help client that is unable to visit locally. 

Our experience and qualify team have been providing Accounting and Tax service for many years. When you are looking for a one stop accounting and tax services, we are there to provide a complete solution package for you.

  • Accounting for Farms and Agricultural Businesses
  • Outsourced accounting and bookkeeping
  • Cash basis accounting
  • Budgeting and cash flow management
  • Financial statement preparation
  • Farm income averaging
  • Tax preparation and strategic tax planning
  • Entity selection and business advisor services
  • QuickBooks training & support
  • Capital tax planning
  • Succession planning

Farming and Fishing Income

You may be operating a farming business, a fishing business, or both. If you run both a farming and a fishing business, farming and fishing income includes income earned from activities from either list below.

Farming income

Farming income includes income you earned from the following activities:

  • soil tilling
  • livestock raising or showing
  • racehorse maintenance
  • poultry raising
  • dairy farming
  • fur farming
  • tree farming
  • fruit growing
  • beekeeping
  • cultivating crops in water or hydroponics
  • Christmas tree growing
  • operating a chicken hatchery
  • operating a feedlot

In certain circumstances, you may also earn farming income from:

  • raising fish
  • market gardening
  • operating a nursery or greenhouse
  • operating a maple sugar bush

Fishing income

Fishing income includes income you earned from the following activities:

  • salt water fishing – boat owners with crewshares
  • salt water fishing – boat owners without crewshares
  • salt water fishing – sharesman
  • freshwater fishing – boat owners with crewshares
  • freshwater fishing – boat owners without crewshares
  • freshwater fishing – sharesman
  • animal aquaculture
  • sale of fish, shellfish, crustaceans or other marine products

It also includes income from:

  • grants
  • credits
  • rebates
  • subsidies
  • compensation for loss of fishing income or property
  • other income

Frequently Asked Questions

  1. What services do St Albert farm and agriculture accountants provide?

    St Albert farm and agriculture accountants offer services including bookkeeping, payroll, tax preparation, financial consulting, and cash flow management for farms and agricultural businesses.

  2. How can BOMCAS assist with farm tax preparation?

    BOMCAS provides comprehensive farm tax preparation services, ensuring compliance with tax regulations, identifying deductions, and filing taxes accurately for farm businesses.

  3. What are the benefits of hiring an agricultural accountant?

    Benefits include expert financial advice, accurate tax filing, strategic tax planning, and effective cash flow management for agricultural businesses.

  4. What documents are required for farm tax preparation?

    Required documents include income statements, receipts for expenses, financial statements, and other relevant financial documents related to farming operations.

  5. How does BOMCAS ensure accurate tax filing for agricultural businesses?

    BOMCAS ensures accurate tax filing by thoroughly reviewing financial documents, identifying all eligible deductions, and adhering to current tax laws for agricultural businesses.

  6. Can BOMCAS handle complex agricultural tax situations?

    Yes, BOMCAS specializes in handling complex agricultural tax situations, providing expert advice and solutions tailored to each client's needs.

  7. Does BOMCAS offer virtual accounting services for farms?

    Yes, BOMCAS offers virtual accounting services for clients who are unable to visit the office, providing convenient and efficient support for farm businesses.

  8. What should I look for in a farm and agriculture accountant?

    Look for experience, credentials, knowledge of current tax laws related to agriculture, and a proven track record of successful tax planning and filing for farms.

  9. How often should farms file taxes?

    Farms should file taxes annually. In Canada, farm tax returns must be filed by April 30th each year for the previous calendar year's income.

  10. What makes BOMCAS a reliable accounting firm for farms in St Albert?

    BOMCAS is reliable due to its experienced team, comprehensive service offerings, and commitment to client satisfaction and professional standards in farm accounting.

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    780-667-5250

    780-851-2520

    info@bomcas.ca

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    Google Reviews
    hello yes profile picturehello yes
    23:16 14 Aug 23
    One of the Best Accountant in Edmonton. They provide wonderful accounting and tax services for me. Looking forward to next year again.
    Shelby Baker profile pictureShelby Baker
    10:34 05 Apr 21
    Really happy with Bomcas Ltd Accounting & Tax Services! They have offered me specialized service for all tax requirements for accounting, incorporation and taxes. I have referred them to several people.
    Kevin (Kevinstrek) profile pictureKevin (Kevinstrek)
    15:35 16 Mar 21
    Came to the company by Google search for a trucking accountant. They turned out to be a very competent and experienced firm. I really liked the online aspect where you can do the entire transaction without ever stepping foot in the office. I just app scanned all my tax forms and set them in. They will ask for anything you don't send if needed and it was all done in a few days. I also paid via online payments. It's convenient being a truck driver as I'm not around much. The quality of service is great and they caught all the details of trucking and I claimed things other accountants have missed. For sure I'll be recommending them to others and coming back next year.
    Richard Obanion profile pictureRichard Obanion
    07:21 11 Mar 21
    So excellent and efficient! BOMCAS handled my personal tax. Truly affordable charges and amazing services. I would like to recommend it to all my friends who need it. Thanks a lot!
    Kendra Robinson-Browne profile pictureKendra Robinson-Browne
    18:19 13 Jan 21
    We used Bomcas for our taxes last year, and we were very impressed! The service was fast, efficient, knowledgeable, and most importantly, Karen seems to really enjoy what she does. They are very affordable, and we will be using them again and again. I would highly recommend using them for all your tax and accounting needs!
    Devine Smith-Moulton profile pictureDevine Smith-Moulton
    07:00 13 Jan 21
    The professionalism I receive from the staff at Bomcas is exceptional. My tax return is done accurately and in a timely manner. I would recommend anyone to this company. You get your money's worth.
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    181 Meadowview Bay, Sherwood Park, AB T8H 1P7, Canada (Online Clients Only)

    6063 88 St NW, Edmonton, AB T6E 5T4, Canada

    Calgary, Alberta, Canada (Coming Soon)


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