Bookkeeping for Tax Purporses

Bookkeeping for Tax Purposes

A cost-effective alternative to the Complete Bookkeeping Solution for business owners who only want an annual review of their financial information.

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Overview:

Frequency:

Your bookkeeping will be completed on an annual basis. You will be provided with a set of financial statements at the end of the year.

Profit & Loss (Income Statement):

You will be provided with a statement showing your revenues, expenses and profit.

Balance Sheet:

You will be provided with a statement showing you assets (things you own), liabilities (things you owe) and shareholder's equity (the net worth of your business).

Cash Flow Statement:

‍You may be provided with a detailed statement that explains how you got from the cash you had at the beginning of the period to the cash you had at the end of the period. It will highlighting how cash was spent and where it came from—whether through operations, investing activities, or financing activities.

GST/HST:

This bookkeeping information will allow us to file and pay your GST/HST returns.

Income Tax Return:

This bookkeeping information will also allow us to file and pay your business income taxes at the end of the year.

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Key Benefits:

Cost-Efficient:

A fraction of the cost of the Complete Bookkeeping Solution or hiring a part-time employee.

Accurate Financial Records:

The annual statements will provide you with a detailed snapshot of how your business performed over the past year.

Tax Compliance:

Easily manage GST/HST filings and annual income tax returns with reliable bookkeeping.