Edmonton Best Corporate Tax Accountants Services You Need
As a business owner, you have tons of responsibilities, and nothing is less important than the others. They all together help to sustain the growth of your business and achieve your business goal. And managing the business accounting system is one of those most important tasks that can cause to boost business growth as well as a huge loss.
Unless you have a solid understanding of business finance and accounting background, do not try to handle a business account system on your own. It can impact your business badly. Hence, an experienced corporate tax accountant is the one-stop solution for you.
Corporate tax professionals are responsible for juggling the finances of a company. And therefore, they are specialized in services any business requires.
Necessary Corporate Tax Accounting services
Below is a rundown of corporate tax services for which none is more resourceful than a corporate tax accountant.
Tax Preparation and Filing Services
Tax filing is a daunting topic for the majority of business owners. Running a business means you already have lots on your plate. However, that does not exclude you or spare you from filing the corporate tax within the deadline. You have to keep on top of the deadline and changes in tax rules.
The process is overwhelming without any doubt. But nothing to worry about it! To help to make the process less stressful for you, corporate tax professionals can do it on behalf of your business.
For this corporate tax accounting service, the experts require information as below:
- Personal information
- Financial Business Reports
- Previous Year’s Tax Return (if any)
- Tax Forms
- Asset Information
- Income Records
- Expense Records
- Loan Information
- Deductible Expense Information
- Inventory Total
- Payroll Data
- Stocks & Bonds Information
GST Preparation and Filing
GST or Goods and Services Tax is an exceptional tax identification number assigned to a business by the CRA (Canada Revenue Agency). You can use this business number to report, collect, remit GST or HST (Harmonized Sales Tax) to the CRA. It also helps to identify the business activities of a company with the CRA, for example, corporate income tax or payroll deductions.
The HST/GST number is a part of your business number (BN). In case you don’t have it, you need to assign one to register for GST/HST number.
CRA Audits
The audit conducted by the CRA is a thorough examination of a business’s records and books. It makes sure that the business has fulfilled the tax obligations respecting income tax, deductions, payroll remittances, employee benefits, and GST/HST.
The CRA audit is a threat for any business. In order to stay CRA-compliant corporate tax professionals can help you.
Bookkeeping
Maintain a business book regularly is one of the most important tasks for any business. While it seems pretty easy and no need for any accounting expert, it may become a weekend task due to lack of time as the business grows. So, leaving the task over to the experts will be peace of mind for you and ensures your business stays organized.
Don’t compromise corporate tax accounting in Edmonton, as it can leave your business at risk. Rather assign a good tax accountant for all corporate tax services.