Sherwood Park and Edmonton Accounting Firms. Your Personal, Corporate Tax Accountants in Edmonton. Edmonton Small Business Accountant
BOMCAS CANADA prepares income tax returns for corporations and small businesses in Edmonton, as well as personal tax and sole proprietorship accounting and bookkeeping in Sherwood Park and Edmonton. We serve clients from St. Albert, Wetaskiwin, Leduc, Sherwood Park, and Edmonton, as well as the surrounding regions. Our organization offers accounting and tax preparation services remotely, locally, or virtually.
The Best Accounting and Tax Professionals in Edmonton and Sherwood Park Have Your Personal and Business Taxes Covered
Small Business & Corporate Tax Preparation Services Made Easy. Never worry about tax again. BOMCAS CANADA Edmonton and Sherwood Park Alberta team of small business accountants has experience with all types of business taxes, Accounting, we know how to help you stay CRA-compliant.
DEDICATED ACCOUNTANT
With your Taxes in our Accountants hand you can rest easy knowing that you have a tax expert on your side that is familiar and knowledge with all the nuances of your state and industry.
FULL-SERVICE SUPPORT
You Tax Accountant will advise you throughout the process of preparing your tax on strategies to help you save thousands.
NO HIDDEN COST
You will be informed of your cost associated initially at a starting price. Many of our services are billed at a flat-rate or variable as needed base on the complexity. You will never see any surprises on your invoice – no matter how often you reach out to us. You are charge for actual work completed.
Edmonton & Sherwood Park Alberta Corporate Tax in Three Steps
SETUP YOUR FREE CONSULTATION
This is where you will select a date and that the is best suitable for you. After which one of our Small Business Tax Accountant will call you for your free consultation.
TALK TO AN EXPERT
Upon having your meeting your Accountant will make recommendation(s) and solutions for your business and industry you operate in that will be best for you. He or She will guide you along all documentation needed etc.
YOU CAN SIT AND RELAX
We will keep you up to date on your taxes while your accountant is there working in your best interest.
What is Corporate tax?
A corporate tax, also known as corporation tax or company tax, is a type of direct tax levied by a jurisdiction on the profits or capital of corporations or other legal entities that are similar to corporations. These types of taxes are imposed at the provincial and federal levels in many countries, including Canada. The taxes are also referred to as income tax or capital tax in some instances. Partnerships are not generally taxed at the same rate as corporations.
Sherwood Park and Edmonton Alberta Tax Accountants and Accounting Services.
Sherwood Park and Edmonton Alberta Small Business Corporate Tax Accountants BOMCAS CANADA is Sherwood Park and Edmonton best Accounting Firm that provides Small Business Bookkeeping, Tax accountant and Accounting Services. CORPORATE TAX; PAYROLL; BOOKKEEPING; ACCOUNTING; BUSINESS ADVICE. BOMCAS is a local small business tax specialist in Edmonton Albert. We specialize in all the taxes that affect your small business: income tax, payroll tax etc. Call us today. Sherwood Park and Edmonton Best Tax Accountants and Tax Preparation Services.
Whether you’re just getting started or have been in business for a while, Bomcas Accounting and Tax Services will help you develop and thrive your firm. We would be delighted to meet with you and discuss your requirements in further detail.
The importance of preparation and planning in attaining success cannot be overstated!
We can handle all aspects of your business’s taxation, including full-cycle accounting, financial statements, annual tax returns, GST filing, T4 / T5 filing, payroll source deductions, identifying tax deductions, and other relevant services such as contact with the Canada Revenue Agency (CRA)
Taxes imposed on small Businesses and Enterprise.
Are you the proprietor of a small company or considering starting one? You’ve had a few inquiries! We can assist you with the following issues: Is a Federal Tax Identification Number for our US Clients and Social Insurance Number SIN for out Canadian Clients Required? , Deductions are permitted for costs incurred when working from home. If appropriate, pay a family member’s earnings or salary. Is it better to incorporate your company or not?, Obtain a GST number by filling out an application. Do you have a regular job or do you work as an independent contractor? , What should you do if your company has to shut down?
The submission and Filing you income tax return on time.
All resident companies (excluding Crown companies, Hutterite colonies, and registered charities) are required to submit a corporate income tax return with the Canada Revenue Agency (CRA) each fiscal year, even if no tax is due.
Here are some instances of what I mean:
Firms that are no longer in business include non-profit organizations, tax-exempt companies, and inactive businesses. Small firms have six months from the end of the fiscal year in which they operate to submit their company tax returns. Taxes, on the other hand, must be paid three months after the fiscal year has ended.
All of your company’s tax-related duties may be handled by Bomcas Accounting and Tax Services. Whether you’re just establishing a small company or have been in operation for a while. Any tax advice, we can assist. To get started, please contact us as soon as possible.
Planning & Preparation Services – Small Business & Corporate Tax Preparation Services
We can manage all aspects of your company’s taxes, including:
- Full cycle bookkeeping
- Financial Statements
- Annual Tax Returns
- GST Filing
- T4 / T5 Filing
- Payroll Source Deductions
- Finding deductions to minimize your taxes
- Correspondence from Canada Revenue Agency
- Personal Tax Preparation and Electronic Filing
- T2 Corporate Tax Preparation and Electronic Filing
Filing your taxes on time
Even if no tax is owed, all resident companies (excluding Crown corporations, Hutterite colonies, and registered charities) are required to submit a corporate income tax return each tax year. This includes the following:
- non-profit organizations;
- tax-exempt corporations, and
- inactive corporations.
Corporate tax filings for all businesses ad small businesses are due six months after the fiscal year ends. Taxes, on the other hand, are payable three months after the fiscal year ends.
We are Bomcas Canada Accounting and Tax Services providing Tax Accountant services Edmonton Alberta Canada with Personal & Corporate Tax Preparation, Accounting & Bookkeeping Services, Tax Returns, Corporation Annual Return Filing, Small Business Taxes. For more information on Corporate income Tax please click here. Bomcas Income Tax Preparation for Small Businesses and Corporations.
Corporate Tax Accountants in Edmonton
Whether you’re an entrepreneur or a corporate employee, it’s important to understand the different kinds of taxes and how they affect your business. By understanding your tax situation, you can learn how to maximize your income and reduce the amount of taxes you owe. It’s also helpful to be aware of the common mistakes that may be made when filing your taxes, which can lead to late payments.
Bomcas Edmonton Accountant is a firm in Edmonton that specialize in corporate tax. Bomcas Accountant provides a range of services to businesses, including financial planning, accounting, and tax preparation. We help businesses establish effective systems and save time while ensuring that they’re following the laws. We also ensure that our clients are getting the most for their money.
If you’re looking for an Edmonton corporate tax firm, you’ll want to find one that’s experienced. You’ll also need to be sure that you’re working with a company that’s knowledgeable about how taxes work, as well as the various reporting requirements and compliance needs.
You should look for an accountant that has experience with a wide variety of industries. Often, you will be dealing with complicated tax issues. You’ll need to be able to determine how much income you’ll have for the year, and how much you’ll need to pay. You can also expect a tax advisor to be able to help you communicate changes in tax law, manage CRA audits, and create schedules. They can even prepare responses for you.
In addition to preparing corporate tax returns, Bomcas accountant can also provide bookkeeping and payroll services. Some of these firms offer additional services like incorporation and business brokerage. They are also adept at providing services for small businesses, such as self-employed individuals and startups.
A full-service accounting firm, Bomcas Accounting and Tax Services serves clients across Edmonton and rural communities. We also offer tax preparation and bookkeeping services for individuals. We also serve clients throughout Canada virtually and online. You can contact us online or via email. We can assist you with personal and corporate taxes, as well as farm tax preparation.
Corporate Tax Planning in Edmonton
Whether you’re planning for your first corporate tax return or have been operating your business for years, you need to be aware of the tax implications of your business transactions. Our Accountant in Edmonton will help you make smart decisions and minimize your tax liability.
The Federal government of Canada imposes both personal and corporate income taxes on residents. The tax system is designed to make sure that personal and corporate income is not at odds. The tax rates range between 19% and 40%. There is a minimum withholding tax of 15% on payments made to non-residents for services rendered in Canada. This can be refunded if the payment is made in connection with a non-resident’s income tax return.
Corporations must file corporate income tax returns (T2) with the Canada Revenue Agency (CRA) each year. Domestic corporations must also file a T2 within six months of the end of the fiscal year. Not-for-profit corporations must file a T2 in the form of a certificate of incorporation or an annual report.
There are several tax incentives available to Canadian-controlled private corporations. These include a small business deduction, which reduces the normal corporate income tax rate on the first $500,000 of taxable income. Alternatively, a Canadian-controlled private corporation can immediately expense up to $1.5 million of eligible property in each year.
Under thin capitalization rules, interest payments from a corporation are deemed dividends for withholding tax purposes. However, there are certain restrictions on the deductibility of interest.