Sole Proprietorship / Self-Employed Income Tax Preparation in Edmonton Alberta

Compliance with Sole Proprietor Taxes in Edmonton Alberta Canada

Your taxes as a self-employed individual or sole proprietorship might be challenging. You are in responsible of reporting corporate income, taxes, and other expenses, all while attempting to discover deductions not only for your company – but also for yourself.

Being a solo proprietor comes with both hazards and benefits. You are entitled to larger business deductions, but you are also obliged to send in more information and compile more paperwork than people who work for a corporation.

Allow Bomcas Edmonton Alberta’s Accountants and Accounting Team to File Your Self-Employment Taxes.

Contact Bomcas Edmonton Alberta Canada Accounting immediately if you are a small business owner or sole proprietor in need of tax assistance. We provide low-cost personal and commercial tax solutions that enable us to:

Find the most deductions possible for you.
Lower your tax liability.
To avoid an audit, make sure you have all of your documents in order.

We can assist you with Form T2125 – Statement of Business Activities, as well as sophisticated deductions such as writing off your home office, deciding what constitutes a business expense, and determining the next stages for your business entity.

We have experience working with online marketers, therapists/psychologists, real estate agents, freelancers, and a variety of other sorts of sole proprietors, and we are well-versed in self-employment law. If you are looking for a partner to help you with your sole proprietor tax compliance, please call us at .

Bomcas Edmonton Accounting provides personal tax preparation services in Edmonton

Every year, millions of Canadians are compelled to worry about their tax returns, which can be a stressful experience. It can be a time-consuming process that results in a great deal of confusion and misunderstanding. How do you go about determining the proper deductions? What exactly constitutes “income”? What impact does my marriage or the birth of a kid have on my tax return? or event the death of a family member.

In order to avoid the time-consuming process of determining these answers on your own, contact Bomcas Canada, Edmonton Accounting and Tax Services right away. As tax professionals, we are delighted to assist individuals and families like yours in filing their tax returns quickly and efficiently, while also providing expert comments along the route to ensure that you earn the maximum tax refund available.

Individual Tax Services are provided by us.

Individuals who require assistance with their tax returns can take advantage of a number of services offered by us. Our team stays up to date on the newest developments in tax law, which allows us to determine which deductions you can claim and how to maximize the amount of money you receive from your return. The following are examples of our personal accounting services:

In the case of personal income tax returns, we’ll go over your information with you and find out what deductions are available. Our team will also handle filing your tax return for you, removing the burden of having to deal with this aspect of the filing procedure on your own.

Estate Planning and Trusts — Navigating the complex web of tax regulations and issues surrounding estates can be tough. We will assist you with any issues you may have or any filings that may be required as a result of your estate planning and trust arrangements.

Audit Assistance – If you are the subject of an audit and require the assistance of a tax professional to ensure that you are able to locate all of the necessary documentation and lower your tax burden, our skilled accountants can assist you with your audit files.

Partnership Tax Compliance – Partnership taxes are notoriously difficult to compute and manage, making them a particularly challenging tax to comply with. Our team will ensure that your T5013 partnership files are accurately filled out and filed in the appropriate location on your behalf.

Entrepreneur and sole proprietorship tax compliance – Entrepreneurs and individuals operating sole proprietorships must ensure that they are correctly reporting both their business and personal taxes. You can count on us to be there for you at every stage of the process.

At Bomcas Edmonton Accounting and Tax Services, we have years of expertise providing personal accounting services to people all around Alberta, Canada, as well as several surrounding towns such as Sherwood Park, Edmonton, Red Deer, Leduc, Calgary, and Chestermere, among other locations. We invite you to contact us immediately if you are in need of an experienced personal accountant who can give both competent help and a welcoming environment.

Tax Credits for Canadians

When it comes to your personal income tax filing, one of the best things for Canadians is that the government gives several tax credits where individuals can use on their personal tax returns. As your Sherwood Park, Edmonton Alberta personal tax return accountant in Alberta Canada Our Experience team of Tax Accountants will ensure that all tax credits are applied correctly on your personal income tax return.  Below you find a list of tax credits that are commonly seen used on a T1 return:

• Tuition, Fees and Education Amounts- T2202 or T2202A
• Interest Paid on Student Loans
• Medical Expenses
• Adoption Expenses
• Charitable Donations- 2013 was the first year of implementation of the first-time donor’s super credit
• Federal or Provincial Political Contributions
• Caregiver Amounts
• Spousal Exemption
• Dependents (born earlier than 1993 in the 2013 tax year)
• Disability Amounts- T2201
• Public Transit Pass Amounts (must be monthly passes or passes for four consecutive weeks)
• Children’s Arts Tax Credits (max. $500 per child)
• Rent or Property Tax Credit (specific conditions apply)
• Child Fitness Credit (max. $500 per child)

Our Tax Responsibilities

• Personal Income Tax Return
• Sole Proprietorship / Self-Employed Income Tax Preparation in Edmonton Alberta