We provide sole proprietor, partner & corporate tax services to the residents in and around Olds, and throughout the rest of Alberta.
Tax Planning | Tax Filing | Tax Preparation | Tax Compliance
Our goal here is to minimize your income tax (and tax risk) now and into the future.
We’ll help you with everything from preparing tax returns to developing a strong tax strategy that helps you meet your business goals.Personal business tax and corporate business taxes are two different entities, which means that different tax implications are imposed on each entity.
Our certified tax accountants are here to navigate these differences for you. We’ll customize a plan to meet both your individual and business tax needs.
Sole Proprietor & Partnered Tax ServicesWe can help sole proprietors, partnerships, and self-employed individuals in many ways. We are experts who provide support to record business activities on T1 and T2 General Tax forms, file business goods and services taxes (GST) depending on the province you reside in and the different provinces you do business in, set up goods and services numbers, and provide support with CRA tax audits.
Whether you need help with tax filing, tax planning, tax preparation, or tax compliance, we do it all!
Corporate Tax ServicesThe Canadian tax legislation is complex and always changing. We will minimize your risk by managing your tax issues to make sure you have funds available to grow your business. Some of our corporate tax services include preparing vital information to help you file your T2 corporate tax returns, planning your tax instalment schedule, and helping you decide how to pay yourself, for example, with a salary or through dividends.
You’re not required to have a goods and services number until your sales reach $30,000.00, but we always recommend applying for one on a voluntary basis with the CRA. If you’re truly serious about your business, this will prepare you for when you become a corporation.
If you are leasing or renting a commercial space for your business, you can not claim it as a home office expense.
No matter how hard you try to expense golf fees (we see this a lot), they are not allowed.
You can choose to pay yourself through salary or through dividends. When you pay yourself a salary, this becomes an expense to the corporation which involves source deduction (payroll). Your account will then issue a T4 slip. Should you decide to take a dividend, this is generated from your retained earnings and is not an expense. Your accountant will then issue a T5 statement of investment income.
With a partnership, it is a good idea to have a legal agreement to the percentage of responsibility each partner is committing to shares on income and liabilities.
RR21 and TWS 332
Ask-Her Tax + Bookkeeping Inc.
RR3 Site 2. Olds, AB. T4H 1P4
If you can't visit our office location we do offer our services via phone for all of Alberta. Locations within 1 hour of our office location:
Acme, Airdrie, Beiseker, Blackfalds, Bowden, Carstairs, Cremona, Crossfield, Didsbury, Helmsdale, Henday, Huxley, Innisfail, Irricana, Linden, Madden, Neapolis, Netook, Penhold, Pine Lake, Raven, Red Deer, Shantz, Springbrook, Sundre, Sunnyslope, Sylvan Lake, Swalwell, Three Hills, Torrington, Trochu, Wimborne