Small Business Accountants – Port Moody
Professional Corporate Tax Preparation for Small Businesses
Corporate Income Tax Filing Doesn’t Need to be Expensive
Many business owners hesitate to incorporate their businesses because they are concerned about the additional accounting and legal costs. The good news is that the gap between operating as a corporation and operating as a sole proprietorship or partnership is not as wide as many owners believe.
Regardless of whether your business is incorporated, you need to have a good accounting system in place. Not having a functional accounting system can be extremely risky — cash flow problems are one of the most common causes of small-business failures. In other words, whether your business is incorporated or not, you should expect to spend roughly the same amount on day-to-day bookkeeping. (You can, however, reduce your costs by choosing a cloud-based accounting platform — another area we specialize in.) Therefore, the truly additional accounting cost of operating as a corporation is the separate corporate income tax return.
That’s where we can help.
If your revenue is under $1 million and you are already using modern accounting software, such as QuickBooks Online or Xero, to record your day-to-day financial activities, we can quickly transform your financial statements into a professionally prepared corporate income tax return using our streamlined system—at a much more reasonable rate.
Years of Experience in Small Business Taxes
Our team has been filing corporate income tax returns for small businesses since 2017. Our clientele encompasses a broad range of industries, including:
- eCommerce
- Healthcare
- Real estate
- IT and professional services
- Consulting
- Construction and trades
- Insurance brokerage
Most of our clients are owner-managed companies and family businesses, so we understand that you want your taxes handled professionally without paying for unnecessary complexity.
Why Small Businesses Keep Coming Back
Our goal isn’t simply to prepare your tax return once a year. We aim to build long-term relationships with the business owners we serve.
We are proud to have a 90% retention rate. Almost all of our corporate clients come back to us in the following year because of the high quality of our work and competitive pricing.
To learn more about how we reduce costs without sacrificing quality, please check out our corporate tax section.
Cloud-Based Accounting for Small Businesses
Accounting System Setup
You can’t reduce your costs if you stick to outdated ways of doing your accounting. As small business accountants, we encourage you to use a cloud-based accounting platform. We recommend two leading platforms: QuickBooks Online and Xero.
Your cloud-based platform will function as your financial hub. It can send sales invoices to your customers, receive payments, record expenses, process payroll and monitor your cash flow.
In short, adopting a cloud-based accounting platform can increase your efficiency and reduce your cost. We will help you set up an accounting system that works for your business and help you stay competitive from Day One.
Catch-Up Bookkeeping
A client of mine, Chris, once told me that he lost sleep every night, knowing his company’s books were two years behind. Does it sound like you? He was incredibly relieved when we brought his books up to date, allowing him to file two years of overdue corporate tax returns.
So, if you want to file your corporate income tax return but your books are a hot mess, don’t worry — help is on the way. Our experienced team can clean up your books in a systematic and efficient manner.
Bookkeeping Second Opinion
One of the biggest challenges business owners face is not knowing whether their external bookkeeper is doing a good job. When an outsourced bookkeeper is the only person handling the accounting, business owners may have no choice but to blindly trust their work — even when their instincts tell them something isn’t right.
Reviewing a bookkeeper’s work is always our first step when preparing a corporate income tax return. However, even if you don’t choose to use our tax filing services, we can still provide a second opinion as a stand-alone service.
For more information about our bookkeeping service, please see our bookkeeping section.
Uncompromising Cybersecurity
Can You Trust Emails From Your Accountant?
Spoofing, or pretending a message is from someone you trust, such as your accountant, is one of hackers’ favorite tricks. A spoofed message may ask you to open a PDF that cannot be scanned by an antivirus program because it is password-protected. Another message from the hacker may ask you to change a vendor’s payment account to one controlled by a fraudster.
In response, Internet regulators have developed anti-spoofing measures to prevent hackers from sending out fake emails. The purpose of these measures is to ensure that, when you see an email from our address xxxx@taxwise.accountant, you can rest assured that the email really is from us.
Given how often accountants send out financial documents, and the fact that these anti-spoofing protocols (SPF, DKIM and DMARC) were introduced as early as 2004, you might assume that all accountants have adopted them. Unfortunately, most of our competitors have been slow to adopt modern technology and have overlooked the advances in cybersecurity.
Multiple Efforts to Keep You Safe
In addition to email authentication, we also implemented the following measures to reduce the risk of cyberattacks targeting our clients:
- VPN: We encrypt the communication between our devices and the Internet, helping prevent others from eavesdropping on our communications.
- SRTP: We encrypt our VoIP phone calls using SRTP, helping protect them as they travel across the Internet.
- DNSSEC: We secure our domain name system using DNSSEC, further strengthening our defenses against phishing, cache poisoning, and man-in-the-middle attacks.
- Antivirus programs and firewalls: We equip all of our work computers with commercial antivirus programs and firewalls.
To see how our cybersecurity efforts compare with those of our competitors, please visit our cybersecurity section.
