Accounting
Accounting, Payroll and Financial Analysis services are provided at reasonable rates. Ottawa Tax uses Sage / Simply Accounting software. Bank statements are required. Financial statements prepared by Ottawa Tax are based upon information provided by the client. Ottawa Tax does not audit financial statements.
Personal Tax
Ottawa Tax offers Personal Tax (T1) services. One of the best software available, CanTax, is used. If the client permits, access to CRA files on the client account will be used. Both the CRA file information and the client’s information should be used together to present a complete picture.
Besides reporting and compliance on taxes, Ottawa Tax offers tax planning. Tax planning helps clients optimize their taxes over many years. Professionally reducing tax liabilities can save money over time.
Corporate Tax
Ottawa Tax offers Corporate Tax (T2) services. CanTax is used to optimize tax positions for the corporation. T2 filings can be very complicated so professional help from Ottawa Tax would be useful in proper filings and lowering tax liability. Many tax positions require special forms to be filed with the CRA, and a professional can help.
Corporate holdings can be a big asset. Ottawa Tax works on strategies to maximize their value, including use of the Lifetime Capital Gains Tax Exemption. Overall, consistent application of professional tax strategies can maximize corporate value over time.
Estates and Trusts
Ottawa tax offers Estates and Trust (T3) services. Estates can be complex filings, especially for people who are relatively new to tax filings. Executors have an important, sometimes challenging role to fill, and Ottawa Tax can help. For a general list of Executor’s duties, click here. Professional help is highly recommended as the list contains general guidelines. Every estate is different.
Trusts help maintain control over assets not under direct management. That may be during one’s lifetime or afterwards. Trusts help in asset protection from legal threats. They may also be useful in tax planning purposes, and setting guidelines for inheritances.
Not-For-Profit
Ottawa Tax offers T1044 Not-For-Profit returns and T3010 Registered Charity returns. HST rebate (Public Service Body) forms are filed with careful adherence to small supplier, gross revenue and other tests. When necessary, Personal Services Business (Incorporated Employee) rules are applied.