Tax Accountant for North York Clients: Bookkeeping and Tax Preparation

Need help with bookkeeping, a personal tax return or your corporation’s year-end? Toronto Tax & Accounting Solutions Inc. serves North York clients remotely, with in-person service at our only office in Scarborough. We explain the records needed and confirm the work and fee before starting. Walk-ins are welcome during office hours.

Do you need bookkeeping, a tax return, or both?

Bookkeeping records and reconciles business transactions. Tax preparation uses the resulting information to prepare a return. If financial statements need preparing, we agree that work separately; it is not included in the corporate T2 starting fee.

What to provide for a bookkeeping review

Tell us the last month your accounts were reconciled, the period you need completed and whether you use an accounting system. Include the number of business bank and credit card accounts and an indication of transaction volume so we can assess the work.

For the period being reviewed, gather statements, sales records, invoices, expense receipts and loan information. Identify outstanding customer invoices and supplier bills. Include GST/HST and payroll records if applicable, and explain payments to or from owners rather than classifying them as sales or expenses without review.

We discuss the bookkeeping software that suits your needs. Tell us what you currently use and how your records are organized. See our bookkeeping and accounting service for further detail. The CRA explains the importance of supporting documents in its record-keeping guidance.

Getting ready for a corporate T2

Once the books and year-end financial information are ready, we can prepare the corporate return as agreed. Provide the year-end date, last filed T2 and financial statements, current financial statements, any CRA letters, and details of assets and shareholder transactions.

For example, a year of bank statements may be enough to begin a bookkeeping assessment, but it is not the same as providing completed financial statements for a T2 quote. We identify that difference before work starts.

The corporate filing service explains the full record requirements. If several years are unfiled, include each year in your enquiry and see our corporate catch-up guide.

Personal and self-employed tax preparation

You do not need an ongoing bookkeeping service to ask us about a personal return. We prepare T1 returns for employment, pension and other income, with additional work quoted for circumstances such as rental income, investments, foreign income or earlier unfiled years.

For unincorporated business activity, gather income and expense records as well as personal slips. Business or professional income is commonly reported using Form T2125 with the personal return; see the CRA's business income reporting guidance. A corporation files separately from its owner.

Bring the relevant income slips, previous Notice of Assessment and supporting receipts. Use our personal tax documents checklist to prepare, and tell us what is missing.

Fees: return preparation and record cleanup are different work

Basic personal returns start from $69.99, and self-employed returns from $149.99, in Canadian dollars, before HST, per return. The final fee depends on the income sources, complexity and records.

Corporate T2 preparation and electronic filing starts from $250 for a nil return, subject to assessing the corporation’s circumstances, and $499 for an active corporation (tax-document preparation and e-filing, including guidance on what information to provide; organizing unprepared financial records costs extra and is quoted before starting), in Canadian dollars, before HST, per tax year. Having no income does not by itself establish eligibility for the nil starting price.

Corporate starting fees exclude bookkeeping, financial statement preparation, payroll filings and the Ontario annual return; we quote these separately in writing. Confirm other filings, including GST/HST or a federal corporate annual return, in the written quote. See the corporate fee conditions and exclusions.

Bookkeeping is quoted after reviewing the period outstanding, transaction volume and accounts involved. We confirm the scope and fee before starting, and quote additional work in writing before it begins.

Payroll and GST/HST alongside your books

If you need payroll or GST/HST filing, tell us the filing periods, whether anything is overdue and what has already been submitted. We agree the work and fee for these services separately.

How we work with you

We review your enquiry, explain the records needed and agree the work and fee. During preparation, we ask about gaps and unclear transactions. You review the prepared return and give the required authorization before we electronically submit an eligible filing.

You can use our remote filing service or meet in person. We work in English, Urdu and Punjabi. Timing depends on the records, work required and availability; tell us about an approaching deadline early.

If the CRA sends a notice about a return we prepared, we explain it at no charge. Responses to CRA letters, organizing supporting records, communicating with the CRA and audit assistance are additional paid work. We agree the scope, your authorization and a separate written quote before starting. We do not offer formal Notices of Objection.

Request a records review or filing quote

Call (437) 410-7999 or use the form below. For a business, include whether it is incorporated, the year-end, the last completed bookkeeping month and any unfiled periods. For a personal return, include the tax year and income sources. Contact us for document instructions before sending full slips or identification details.

Our office is Office 19, 695 Markham Road, Scarborough, Ontario M1H 2A5. See office hours and visit details.