Business Services
AHD Tax CPA Professional Corporation provides a wide range of financial planning and consultation services to help your business grow, thrive, and stay competitive. We can also conduct business number and CRA registration services to ensure your business is set up correctly.
Whether you’re starting a small business for the first time or hoping to increase profits at an established company, you can benefit from a business consultation with a Chartered Professional Accountant. During a Business Consultation, a CPA from AHD Tax CPA Professional Corporation will review your business’s complete financial picture and help you find ways to streamline your daily operations and eliminate inefficiencies. We can also provide guidance and planning services in all of the following areas:
- Helping you reach your cost and revenue targets.
- Analyzing how your forecasted results compare with your actual results and identifying how and why discrepancies are occurring.
- Developing a plan to increase the return you’re earning on your investments.
- Creating a detailed, accurate business forecast and budget.
- Showing you how your business compares to industry averages.
- Improving the technology you use to collect, store, and protect financial data.
- Streamlining your payroll processes to ensure that payroll deductions are being made accurately and on time. This will prevent you from incurring significant fines with the CRA for errors related to the deduction of CPP, EI, and Income Tax.
- Helping you establish branches or conduct business internationally while operating in full accordance with international tax law.
In addition to providing the services above, we can use our in-depth knowledge of financial trends to help you understand the forces that could potentially impact your business in the future. Our experts can also inform you of any regulatory or tax changes that may affect your industry, so you can get prepared ahead of time.
Incorporation & Business Registration Services in Toronto
Starting a new business is an incredibly exciting venture, but it involves a lot of paperwork and numerous legal formalities. To ensure your fledgling business is set up correctly, it’s crucial to work with an experienced Chartered Professional Accountant during the registration and incorporation process. An accountant can advise you on whether you should operate as a sole proprietor, partnership, or incorporation and educate you about your various tax obligations as a business owner. We can also assist with the following tasks:
- Setting up Articles of Incorporation
- Registering your Business Number
- Establishing Business Bank Accounts, Payroll, and Sales Tax Accounts
- Securing Funding
- Keeping Accurate Records to Submit to the CRA
- Filing Corporate Tax Returns
- Creating Share Subscriptions and a Minutes Book
- Developing a Comprehensive Business Plan
Selecting the correct structure for your business, planning for tax season, and creating a budget ahead of time will ensure you generate maximum profits, avoid audits, and invest your money wisely. Better still, working with a Chartered Professional Accountant will allow you to use your time more efficiently, so you can focus on achieving your goals.
Why Incorporate Your Business with AHD Tax CPA Professional Corporation?
Though not all businesses incorporate initially, incorporation is typically the best long-term business strategy. Once your business experiences significant growth and you begin employing staff, we strongly recommend incorporating for the following reasons:
You’ll reduce your liability. In a sole proprietorship or partnership, the business owner is responsible for all of the company’s debts. In a corporation, he or she is only responsible for his or her direct investments into the business. As such, incorporation can protect your personal assets should your business become insolvent.
You’ll secure your company’s future. Incorporated businesses can continue to operate even if the original owner passes away or leaves the business. Ownership of the business can easily be transferred to someone else.
You’ll have better financing options. Corporations typically have an easier time finding investors and borrowing money from financial institutions. They can also sell shares to generate equity financing.
You’ll save money on your taxes. In Canada, the income tax rate for corporations is significantly lower than the personal income tax rate. By incorporating your business, you’ll reduce the amount you must spend on your annual income taxes and free up additional revenue to invest in growing your business. Depending on the nature of your business, you may also be able to divide revenue between family members, further reducing the amount of tax you must pay.
You’ll reduce your liability. In a sole proprietorship or partnership, the business owner is responsible for all of the company’s debts. In a corporation, he or she is only responsible for his or her direct investments into the business. As such, incorporation can protect your personal assets should your business become insolvent.
As a new business owner, you must register your business with the CRA; failing to do so may violate provincial or federal regulations and create unnecessary tax complications. Our Chartered Professional Accountants can help you register your business number, create your payroll account, and complete your GST/HST registration with the CRA accurately and efficiently.
Excellent accounting is all about using financial data to formulate a robust business strategy. At AHD Tax CPA Professional Corporation, we carefully track profits, losses, and expenditures, so we have accurate and up-to-date information on your business’s financial health. Using this data, we can help you:
- Create a financial forecast.
- Draw up realistic operating budgets, project budgets, and capital budgets.
- Eliminate inefficiencies that are reducing your profits.
- Choose the best investments to achieve your business goals.
- Plan and secure financing.
- Streamline your tax strategy to reduce your total tax burden.
Both new and established companies can benefit from financial planning services. Skilled financial planning can help you identify opportunities and potential problems, so you can proactively take action to protect your profits and ensure continued business growth.
Why Choose Us for Financial Planning Services ?
In addition to having an established history of working with sole proprietorships, partnerships, and corporations, Agnes Huyen Do, CPA, CA graduated with distinction Cum Laude from York University with a Specialized Honours B.A. in Economics & Business (concentrated in Financial Analysis). This combination of hands-on accounting experience and specialized financial education makes us uniquely well-suited to conducting financial planning services for businesses of all sizes.
Contact AHD Tax CPA Professional Corporation For Business Services
Not only do we provide a complete package of incorporation and corporate tax services, but we also have over a decade of experience working with businesses across many different industries. We can provide business consultation, planning, and tax advice that’s personalized to reflect the unique financial and tax considerations of your industry. Contact us today!
Disclaimer
The information provided on this website is intended for general informational purposes only and should not be construed as professional financial advice. Individual financial situations vary, and it is recommended that you consult with a qualified professional accountant to address your specific financial needs and circumstances. We assume no responsibility or liability for any errors or omissions in the content of this website.