Have A Question About Tax Services?
Do you have questions relating to tax services, preparation, bookkeeping or more? Visit the more frequently asked questions for help, or contact Jeanette Newman for a consultation.
Schedule A ConsultationOur Most Frequently Asked Questions
You may not need an accountant for a simple tax return. However, if you have self-employment income, own a small business, own a rental property or have complex claims it can be advantageous to hire an accountant. If you’re a non-resident or have special credits to claim (such as disability or education credits) an accountant can help your filing go smoothly.
Almost certainly. Corporate taxes can be complicated, and the penalties for late or incorrect filings can be steep. A professional accountant can ensure your company’s compliance and find the most cost-effective way of preparing your return.
It’s a good idea to consult a tax professional when filing a return that includes small business or self-employment income. These returns can often be complex due to how income is claimed and what deductions you are allowed.
The cost varies depending on the complexity of the return and the amount of work needed to prepare. Contact JMN Accounting to set up a complimentary consultation to determine your tax preparation rate.
In Canada, personal income taxes are due on the last day of April every year.
There are different types of financial statements, including Balance Sheets and Income Statements. To ensure your financial statements accurately reflect the state of your business, consider hiring an accountant.
Your corporate tax payments are due 3 months after your fiscal year end and your corporate tax return is due 6 months after your fiscal year end. BUT if you owe more than $3,000 then you need to pay installments during your tax year, it’s complicated, but having an accountant can help you stay on track with all your CRA tax obligations.
A Chartered Professional Accountant is a certified accountant who belongs to the CPA Canada professional organization. CPAs must meet rigorous professional standards, complete pre-approved programs and complete a certain amount of experience before becoming certified.
A good accountant works with you to achieve the best possible return and provide you with accurate, knowledgeable advice. Your accountant should also be a CPA, a designation that recognizes the highest professional standards. JMN Accounting offers a free initial meeting to determine if we are the right choice for you.