Trust professionals to manage your books
At MKG, our specialized knowledge and comprehensive training in corporate tax regulations empower us to optimize your deductions and credits effectively. We focus on reducing your tax obligations, ensuring that your business remains fully compliant with all regulatory standards.
Financial Statements aren’t just for the CRA
Every corporation is required to produce a set of Year-End Financial Statements annually, alongside their tax returns. These crucial documents not only fulfill statutory obligations but also offer critical insights into the financial health and future prospects of your business. At MKG, we go beyond just preparing these statements and tax filings; we dedicate time to clarify and interpret your financial data, helping your management team grasp the impact of their business decisions. Our commitment extends to serving our clients in the Toronto Beaches area with tailored financial reporting, designed to meet the unique needs of each business. As seasoned accounting professionals, we cater to a diverse range of reporting requirements, whether you need complete or partial financial statements, delivered monthly, quarterly, semi-annually, or annually. Trust us at MKG to expertly handle all your financial reporting needs, keeping you informed and in control.
We offer the following corporate tax services:
o Preparing corporate income tax and information returns
o Filing tax elections
o Preparing T4s T5s and T3s
o CRA audit and review representation
o Design and refining internal accounting processes
Keep up with tax changes
CPAs regularly participate in professional development seminars and courses to ensure they are up-to-date with the latest changes to the Income Tax Act and are able to assess their clients’ accounts based on these changes. Did you know that you can refile your tax returns for the past three years? If you are unsure whether your taxes have been filed properly, give us a call. We perform free reviews of your prior tax returns. You will only pay if we recover an additional refund for you.
Take advantage of all possible tax savings
The Income Tax Act is complex and somewhat difficult to understand for the layman. Having your taxes filed by a professional means, you will be able to take advantage of all possible tax savings, pay the minimum required tax, and maintain a good standing with the CRA. We will spend as much time as needed to get to know your current situation and future plans and will recommend tax-saving strategies in order to pay the lowest overall tax possible.
Avoid interest and penalties
Canada's tax system is based on self-assessment. This means that individuals voluntarily complete an income tax return to report their annual income and claim all deductions or credits that apply to their situation. If, however, you are unable to provide sufficient documentation or have claimed deduction or credits that did not apply to your situation, you will be responsible for returning the refund you received and may also be liable for interest and penalties. If you have not filed your prior year tax returns, I can help you avoid the interests and penalties.
These are just some of the ways in which a Chartered Professional Accountant will deliver superior and reliable results. Call (416) 836-4731 for a free consultation today.