Compliance

When small businesses run into bureaucratic red tape, it is usually because governments are trying to make sure they are complying with regulations. The two branches of the Canada Customs and Revenue Agency (Income Tax & GST) both require many returns and reports from businesses. They often demand that financial statements be attached to these returns and reports. For their part, other levels of government and various associations also require reporting from businesses and individuals.

The majority of our clients delegate most of their compliance requirements to us. With over 30 years of experience in public accounting, our firm has developed the expertise, skill and technology to handle client's filing requirements accurately, efficiently and at a fair price.

We have the software and skills to properly prepare and file all corporate, personal and trust income tax returns, in addition to T4's, T5's and GST returns. Some clients choose to prepare their own GST returns; we check the overall compliance of these returns as part of our normal year end financial statement preparation. For agricultural clients, our tax preparation software also automatically prepares CAISP returns where applicable. It also formats the information so it is easier to deal with various farm income stability programs.

How we prepare annual compliance based financial statements will depend on the needs of our clients and the amount of bookkeeping they wish to do on their own. For some, we do all the bookkeeping (monthly, quarterly or annually) and, prepare the financial statements from this information. For others, we might simply import the data file from their accounting system at year end, using it to prepare the financial statements.