Individual & Personal Income Tax Return Preparation Services in Toronto (GTA)
Services in Toronto (Greater Toronto Area), Ontario, Bomcas Income Tax Accountants Services prepares individual and personal income taxes. A wide range of tax and accounting issues are dealt with by our Accountants who have a wealth of knowledge and experience. Canada’s Individual Income Taxes | The United States’ Individual Income Taxes | International Taxation Services
Individuals and families in the City of Toronto can benefit from Personal tax Preparation accountant services in the GTA
Professional Accountants at Bomcas Income Tax Return Preparation for Toronto (GTA) Ontario Canada provide a wide range of Personal and Individual tax services to both individuals and small businesses. In Canada, we are EFILERs and Professional Tax Accountants who have been approved by the Canada Revenue Agency. Our clients in the United States can also benefit from our cross-border tax services and international tax services. Our personal tax accountants for Toronto (GTA) have experience dealing with a wide range of personal income tax issues and circumstances and CRA Audits. Our team will work with you to find a solution that is tailored to your specific needs.
Our personal income tax consulting and filing services includes but not limited to:
- Individual income tax and benefits returns for individuals;
- Income tax returns for couples and families;
- Income tax services for students;
- Private tax preparation for self-employed persons;
- Personal and business tax preparation for individuals with foreign income,
- investment income, and/or rental income;
- Personal tax return services for new immigrants or emigrants from Canada;
- Non-resident income tax services;
- Personal tax consulting and advising for non-residents and dual residents of Canada;
- Income tax preparation services for deceased individuals;
- Back filing personal income tax;
- Voluntary Tax Disclosure and Tax Appeals;
- Liaising with CRA and other officials as necessary;
- Individual tax planning;
- Tax compliance;
- Asset protection;
- Providing personal tax advice and consulting throughout the year for you and your family;
- Integration of small business taxes to drive efficiencies.
Taxes for small businesses and sole proprietorships in Toronto and the Greater Toronto Area (GTA).
Self-employment/Sole Proprietorship Money earned from a business includes earnings from:
- Occupation
- Commercial Trade
- Manufacture or produce
Any commercial venture, adventure, or concern, or any other activity you undertake for profit, and there is evidence to support that purpose. Income from a service firm, for example, is considered business income. Employment revenue, such as salary or wages from an employer, is not included in business income.
You can deduct some business expenses from your taxable income if you are self-employed or a sole proprietor, such as: You can deduct some business expenses from your taxable income if you are self-employed or a sole proprietor, such as: You can deduct some business expenses from your taxable income if you are self-employed or a sole proprietor, such as:
- Household costs.
- Vehicle costs.
- Food.
- Office supplies and furniture
- Promotion.
- Instruments and equipment.
- ..along with additional items
You can lower your taxable income by disclosing legitimate business expenses.
You must file an annual tax return detailing your gross revenue, gross expenses, and net income. You must charge and collect GST if you earn more than $30,000 per year (or four consecutive quarters or a single quarter). Please contact us as soon as possible to learn more and open a GST account.
On a T1 Income Tax Return, your business or self-employment income is declared along with any personal income. Individuals who are self-employed, such as sole proprietors, have until June 15th to file with the Canada Revenue Agency. If you have an unpaid balance, you must pay it by April 30th.
Are you considering incorporating in the Greater Toronto Area (GTA)?
When your company’s revenue exceeds a certain threshold, you should consider whether or not to incorporate. If you choose to incorporate, you may be able to significantly reduce the amount of tax you owe. Furthermore, incorporating your business may allow you to defer taxes and/or share revenue. If you want to incorporate your business, it also protects your personal assets.
The professionals at Bomcas (Toronto (GTA)) Canada Accounting and Tax Services can help you choose the best solution for your company and handle all of your tax responsibilities, allowing you to focus on growing your business rather than worrying about taxes.
Contact us to learn more about your self-employment or sole proprietorship tax filing options, as well as to allow us to assist you in locating all of the deductions to which you may be entitled, such as charitable contributions, that you may be able to claim on your tax return.
General Accounting & Tax Services in Toronto (GTA)
Personal Tax Services
Bomcas Accounting and Tax Services in Canada offers personal tax services to clients in order to help them manage their personal and family wealth through strategic tax and financial planning.
Complete a GST/HST Return
When you file these electronically, the Canada Revenue Agency (CRA) now requires you to specify whether your income is from exempt or zero-rated goods, as well as sales from your linked organization.
Back Taxes, Unfiled Tax Returns
Our taxation services for individuals and businesses, including CRA audits, insolvency, back taxes, tax planning and assistance, and other services, can help you avoid making costly mistakes in the future.
Income Tax Preparation
Our tax professionals make taxes straightforward for you. File your tax return from wherever you are, and we’ll ensure you the most refund possible. You can file it in person, online, or by mail.
Small Business Accounting
We provide everything you’ll need to keep your business running smoothly. Accounting, strategy planning, payroll administration, cash flow management, bank financing, and other related services
Cross Border Tax Services
Our cross-border tax specialists are available to assist individuals and businesses with their tax issues. With us, you can rest assured that your cross-border taxes will be completed correctly the first time.
Sole Proprietorship Tax
Sole Proprietorship/Self- Employed. Your proprietorship or self employed income is reported along with any personal income on a T1 Income Tax Return. Our Tax Accountants are available
Corporation income tax return
To submit corporate income tax, you must file a tax return with the Canada Revenue Agency (CRA). Using your business number, you file your provincial corporate income taxes along with your federal income tax return.
Real Estate Accountant
Rental income must be reported in order to correctly complete and file your annual tax return. Our Real Estate accountants will assist you in maximizing any potential write-offs or benefits available to you.
Dedicated Tax Accountants
With your taxes in our Accountant’s hands, you can rest easy knowing that you have a tax expert on your side who is conversant and knowledgeable about all of Canada’s tax regulations.
Full-Service Support
Throughout the year, your Tax Accountant will advise you on tax methods that will help you save thousands of dollars. As well as all of the best practices. Your Accountant will work hard to secure you the largest possible return.
No Hidden Cost
Your initial fee will be communicated to you. Many of our services are flat-rate or vary in price depending on their complexity. There will be no surprises on your bill, no matter how frequently you contact us. You only pay for work that has been completed.
Service Area in Toronto and Ontario Canada
Among the services offered by Bomcas Canada are accounting, bookkeeping, payroll, farming, personal and corporate tax preparation, and income tax preparation. Here is a list of the locations in Ontario where we provide our services: Please keep in mind that we can provide all of our services remotely and online to clients throughout the province of Ontario and the entire country of Canada.
Popular Service Location
- Toronto
- GTA
- Ottawa
- Hamilton
- London
Popular Service Location
Windsor
Greater Sudbury
Kingston
Barrie
Brampton
Popular Service Location
- Kitchener
- Guelph
- Mississauga
- Thunder Bay
- Kitchener
(780) 667-5250
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Toronto (GTA) Contact Information
To clarify, you may complete all your accounting and tax services entirely online with us, eliminating the need for you to travel to our office or take time away from work, among other things. You can also contact us and we will be pleased to assist you with any of your accounting and tax needs.