ACCOUNTING & TAX AVENUE INC.
Corporate Accounts | Personal Tax Returns & Consultation
Formerly known as ekTrehan & Company Ltd.
Services
Providing Everything You Need
We have listed the services that we offer to our clients, together, with a brief description.
As the list below is by no means comprehensive, please feel free to inquire about a service if you do not see it listed.
BUSINESS START-UP
Starting a business is a very exciting venture. There are, however, many things to think about beyond the type of business you want to start. Accounting & Tax Avenue Ltd. can walk you through all aspects of starting your own business from deciding whether to incorporate or operate as a proprietorship all the way through to obtaining financing.
Here are some considerations of starting your own Business
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Decide whether to incorporate, operate as a proprietorship, or partnership
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Set up CRA business number, GST and payroll
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Set up workers compensation account
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Setup bookkeeping and payroll
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Decide whether to take a salary or dividends
ACCOUNTING SERVICES
Paperwork can be cumbersome to keep on and present further challenges and costs if not handled properly and on time. We offer full accounting services and can take a load off for you through:
Bookkeeping: We can offer taking care of everything or just assisting in part of the record and bookkeeping of the business. Accounting softwares make this process as easy and painless as possible. We also provide regular reports and tools from this record keeping that can help you do what you do best and manage your business while offloading the burden of bookkeeping.
GST and payroll: We can assist in the preparation and filing of GST as well as answer correspondence from the CRA on compliance matters. We provide bi-weekly, monthly, semi-monthly payroll calculations, paystubs, remittance information for payroll. We also assist in employment agreements, understanding payroll legislation, and filing of T4 at year end.
Year-end financial statements: Prepared for management or financial needs. We prepare these at year end or interim if needed. We can prepare statements on a notice to reader or review engagement basis for not-for-profit or for-profit business.
WCB Reporting: In conjunction with payroll, we can assist in filing annual reports to WCB as well as helping assess the year end forms and make decisions on coverage levels.
TAX PLANNING
Personal Income Tax Preparation:
We help you keep in the loop with the increasing changes in tax legislation. We provide advice and planning on a range of personal tax considerations to ensure you are meeting your obligations while taking advantage of any deductions. Our personal tax services encompass: financial and retirement planning, and preparation, personal tax planning, owner manager tax planning. We always update our Personal Checklist for maximum utilisation of tax credits and deductions.
Corporate Income Tax Preparation:
An effective tax strategy ensures you aren’t paying more taxes than you should and that the amount you do pay, is paid at the right time. Some of the areas we focus on with Corporate Taxation includes:
Corporate Structure (incorporate or not), Management Remuneration (salary and dividends),
Payroll Taxes,
Tax Planning and Minimisation,
Advice on consequences of proposed transactions, and
Advice on current legislation interpretation.
Another service we provide is tax compliance. This covers the preparation and estimates of corporate returns, not-for-profit information returns, preparation of CRA ruling requests or appeals, and CRA correspondence for reviews and audits of returns.
FINANCIAL STATEMENTS
We are pleased to offer offer review and compilation services and often consider the above in a holistic approach along with tax planning and consulting.
Review-A review provides a moderate level of assurance and requires significantly less work to complete the engagement. Based on Canadian accepted standards, we use primarily inquiry, analysis and discussion to determine that the financial information provided by management is plausible.
Compilation-If your business has minimal external reporting requirements and you are actively involved in daily operations, a compilation engagement is a low cost, non-assurance alternative. A compilation is most appropriate when prepared primarily for use by management/owner or meeting tax filing requirements.
CONSULTATION
Our clients call us before making major financial decisions or when they have a concern. Conversely, they’ve told us they appreciate us calling them when we note something they should be aware of. We’re able to utilise our professional standing, educational background and vast experience to provide honest, objective and thoughtful advice.
We’ll be pleased to offer you a consultation on strategic direction with in-depth study and analysis – or act as a sounding board so you’re able to make the best decisions for your circumstances.
We’re here for you. Talk to us when you’re under pressure to deliver results, are having trouble finding information, need to assess the consequences of a choice, or if you’d like to improve how your organization functions.
