Accounting and tax preparation services for Canadians and Americans living in Canada and the U.S.

The concept of double taxation in Canada

Double taxation is an unfair tax policy for Canadians. It taxes companies twice, once through its shareholders and then again as a Canadian corporation.

Double taxation in Canada is something that most people don’t even think about. But it’s important to know because… Double Taxation Can Be A Real Pain! Let’s say you are a Canadian resident and you have an investment income of $10,000 from your stock portfolio. Let’s say you also have a house in the United States worth $150,000. In this case, you will pay U.S. tax on the $10,000 gain from your stock portfolio (at a maximum rate of 15%) and you will also pay Canadian tax on any dividends or capital gains from your stock portfolio that exceed $20,000 (at a maximum rate of 22.5%). What happens if you sell your U.S. house for $140,000 and use the entire proceeds to buy another house in Canada? In this case, you will not pay U.S.

How double taxation work

What is double taxation? Double tax refers to a situation where two countries impose taxes on the same income, and the tax rates are different. When this happens, the person or company has to pay two taxes on the same amount of money. Double taxation is a common problem for people and companies who are engaged in international business. It can happen when a country’s tax rate is lower than another country’s tax rate.

Double taxation is not necessarily a bad thing. It makes sense for governments to have lower tax rates for certain types of income. For example, many countries in Europe have low taxes on investment income. If a country imposes higher taxes on investment income, then the government loses revenue. This loss of revenue can lead to budget deficits and inflation. As a result, the government may be tempted to cut taxes on other types of income in order to raise revenue. The problem with double taxation is that it hurts companies. It makes it more difficult for companies to compete internationally.

Different types of taxes in Canada

What are the different types of Taxes in Canada 

There are several kinds of taxes in Canada. The most common ones are… Federal Corporate Income Tax (also called “Income Tax”) This is a tax on all profits made by Canadian corporations. It is assessed at an ordinary rate of 15% and, it is paid by the corporation. However, many corporations choose to pay this tax through the medium of an “Income Trust””. The Second In Individual Personal Tax,

An Income Trust is simply an organization which has been granted special powers by the federal government. These powers allow the Income Trust to make payments of the tax due directly to the government on behalf of its shareholders. This means the shareholders (individuals or organizations) do not have to pay the tax themselves. For more information about Income Trusts contact Bomcas Canada or visit their website at https://bomcas.ca

Income trusts are very popular in Canada because… they give the shareholders (people like you and me who own a Canadian corporation) complete tax-relief!

What is Individual Personal income Tax in Canada? 

Individual personal income tax, sometimes called income tax, is a tax levied by the government of Canada on the taxable incomes of Canadians. The tax is collected by the Canada Revenue Agency (CRA) on behalf of the federal government. The tax applies to all individuals who earn income from any source within Canada and it is imposed on both personal and business income.

It is a progressive tax that is charged at different rates depending on the amount of income earned. The tax is administered by the Canada Revenue Agency (CRA). The CRA is a federal government agency that collects taxes in Canada. The CRA’s mission is to collect all taxes due to the federal government. The agency provides services to taxpayers, such as filing and paying taxes, applying for refund or payment of taxes, and providing other information on tax matters. It also administers the Canada Pension Plan and Old Age Security programs.

What is Business Corporate income Tax in Canada? 

In the Canada, Income tax is a form of taxation on an individual’s or a company’s profits. The Income tax is levied at different rates according to the amount of taxable income and the amount of personal exemptions. The basic principle of Income tax is that the income of an individual or a company is taxable when it is received. A company can have both shareholders and non-shareholders as its members.

If any person who has a share in the company is a resident of Canada, then he is liable to pay tax on his income. However, if the person is a non-resident, then he is not required to pay tax on his income. The Income tax is imposed on the net income of a person or a company. Net income means the amount after deducting all the losses incurred by a person or a company. In case of a company, net income means the sum of all the profit earned by it during the financial year.

A company is required to deduct certain expenses from its income before computing the taxable income. Income Tax Act, R.S.C. 1985, c. I-7, as amended; R.S.C. 1985, c. I-8, as amended; R.S.C. 1985, c. I-9, as amended; R.S.C. 1985, c. I-10, as amended; R.S.C. 1985, c. I-11, as amended; R.

Different types of accounting and tax preparation services

What are accounting and tax services? Accounting and tax services are those services provided by accountants to help you manage your finances.

They include such things as keeping track of your income and expenses, preparing tax returns for you, advising you on what financial decisions to make, and helping you with your personal or business-related tax problems. There are many different types of accounting and tax services available in Canada.

You can go to an accountant or a tax preparer who is a member of CAANIMA (the Canadian Association of Accounting and Business Services). Or you can use a service like H&R Block or Jackson Hewitt which is NOT a member of CAANIMA but which will prepare your return for you at a lower price than a member. There are many good, ethical people in the accounting and tax preparation business.

But there are also some unethical ones. If you are having financial troubles or need help with your taxes, be very careful about whom you hire to do the job for you. If you are doing your own taxes, you need to know that it is a legal requirement that you file your taxes on time. The penalty for late filing is can be high or just a few hundred dollars. But it can be a lot more if you owe a lot of taxes. You can ask your employer to withhold a small amount from your pay so that the government will get money for you. The amount that your employer deducts is called your taxable income. You can also have money withheld from your paycheck by your bank or other financial institution. The amount that they withhold is called your income tax withholding. There are many different ways to calculate your income tax, depending on the way you work, your age, and the number of people in your family. For more information please visit canada.ca or bomcas.ca or call Bomcas Canada

How much does it cost to hire an accounting and tax preparation service in Canada?

We have a business with around 100 employees. We’re a private company, so we don’t pay any taxes. We want to hire someone to do our bookkeeping, payroll, GST, tax return preparation and filing for us. However, I’ve found the prices for this service across Canada are quite different and some very expensive, especially compared to the US.

I’m not sure if it’s because we are in Alberta, or whether this is the norm here. But, I’d like to know what the average price for bookkeeping and payroll services are across Canada? Is it the same as the US? You will find the prices in the US and Canada vary greatly. This is mainly due to the fact that in Canada we have two forms of taxation: Income Tax and Goods and Services Tax (GST) and the tax prepares prices are not regulated in anyway.

Why hire a bookkeeper in Canada?

When you start your own business, it can be difficult to get a handle on your finances. You might not realize how much money you’re spending until you have a list of expenses and an idea of what you’re bringing in. If you’re looking for help with bookkeeping, you may want to consider hiring a professional to help you. There are many reasons to consider hiring a bookkeeper.

One of the most important is to make sure you’re keeping accurate records of all your financial transactions. An inexperienced or careless owner can easily lose a lot of money by making bad financial decisions based on inaccurate information. Hiring someone who is experienced and reliable will prevent this from happening. It will also give you the peace of mind that comes from knowing that your business is being taken care of by someone who has your best interests at heart.

Why hire a Corporate Accountant in Canada?

A corporate accountant or business auditor is a professional who will help your company in all aspects of accounting. A corporate accountant is a person who has knowledge and skills to work on the books of a corporation. The job of a corporate accountant includes preparing financial statements, preparing tax returns, analyzing financial data and providing services such as tax planning, bookkeeping, financial management and other administrative services to your company.

What are the different types of accountants in Canada?

There are many types of accountants, but you will only need an accountant who specializes in one area of accounting. There are two basic types of accountants: Chartered Accountants (CA) and Certified Public Accountants (CPA). CA’s have a bachelor degree and CPA’s have a bachelors degree with additional studies with many completed a master degree. Why hire a CPA or a CA? A CPA is the most common type of accountant that most people use. A CPA can offer you services such as preparing financial statements, preparing tax returns, analyzing financial data and providing services such as tax planning, bookkeeping, financial management and other administrative services to your company. A CA has more experience in the accounting field than a CPA. However a CPA is someone that overseas many different business accounting function and carry out various audits. However In Canada CA’s are now converting to CPA hence A CPA and CA will both carry out the same functions.

A good accountant should be able to do everything a CPA can do plus much more. What makes a person an expert in one area of accounting? That person must have extensive experience in that area. No matter what type of accountant you are looking for, make sure they have sufficient experience in your type of industry. For example, if you are in the food industry, you don’t want an accountant who specializes in manufacturing to prepare your financial statements. You want them to have at least some experience with food industry accounting. Another important factor is education. A person who has completed a master degree in accounting will usually have a far superior knowledge about accounting then someone who has only earned a bachelor degree. When it comes to accountants, I believe a person who has completed a master degree in accounting is equivalent to three to five years of experience. What should you look for in an accountant? Make sure they have sufficient industry experience, are well-educated and are honest. Hiring an honest and ethical accountant is more important then you might think. There are many dishonest and unethical accountants out there. One way to find out if an accountant is honest is to ask for a copy of their professional certification. Ask them for proof they are licensed to practice as an accountant in your province. Many dishonest and unethical accountants will not be licensed. If they have any doubts about providing you with an accurate financial statement, they will simply refuse to provide it to you.

When should you use an accounting and tax preparation service in Canada?

There are times when it is not advantageous for you to do your own bookkeeping and tax returns. For example, if you are self-employed, you may want to have your books and tax returns done by a third party so you are not distracted with the details of running your business.

Or, if you are a new immigrant or a non-resident alien, you may need help with your bookkeeping and tax returns so you can focus on your new life in Canada. Also, if you are a seasonal worker, you may want someone to take care of your bookkeeping and tax returns for only a few months each year. There are many situations where using an accounting and tax preparation service is clearly the best option.

If you do decide to use an outside accounting and tax preparation service, you should make sure they have all of the following items: They must be authorized by the CRA (Canada Revenue Agency) to prepare your taxes. If they are not authorized, they could face serious consequences. The consequences include being fined up to $50,000 and even having their license to practice tax preparation revoked. They must be a member of CAUT (Canadian Association of Accounting Technicians). This is an international organization that has strict standards for ethical conduct and professional excellence. All members agree to adhere to the code of ethics. They must be a member of IATP (International Association of Tax Professionals). This is another international organization that has similar requirements for its members. Both the CAUT and IATP have strict codes of ethics. They must be a member of CPA (Canadian Institute of Public Accountants). This is another professional body that has strict ethical standards for its members. However, you don’t need to be apart of any of the organization to prepare taxes as they can be prepare by yourself. To solve this problem contact Bomcas Canada to have your taxes prepare and bookkeeping done, just that easy or visit their website at https://bomcas.ca

Types of accounting and tax preparation services in Canada

Need help with your personal and individual tax return preparation or when you’re starting a business, choosing the right accountant is just as important as selecting the right accountant. If you are a small business owner, chances are you have to file your taxes each year, and your accountant can be an important ally. A good accountant will help you stay on top of your tax obligations. You’ll also know how to make sure you’re paying the lowest amount of tax possible.

If you want to get started on your tax return, this guide will tell you about the various types of accounting and tax preparation services available in Canada. What is a Certified Public Accountant? A certified public accountant (CPA) is someone who has completed an intensive program to become a professional accountant. This includes obtaining a Accounting or Business degree and passing the CPA exam. The CPA designation is often referred to as the ‘gold standard’ for accountants. In addition to being a highly qualified professional, CPAs are also required to have certain ethical standards, such as not taking money for non-audit related work. CPAs must be licensed to practice in Canada and must be members of the Canadian Institute of Chartered Accountants (CICA).

Accounting and tax preparation services in Alberta Canada

Taxes are complicated. You probably know that by now, but if you’re still in the dark, don’t worry – the information in this article is easy to understand. If you have any questions about tax laws, feel free to call me at 780-965-5250 or send me an email at info@bomcas.ca. What is income? Income is money you make from selling goods or services to other people. The amount of income you make depends on how much you sell and what type of business you run. In other words, it’s how much you earn each year.

Income earned from a business is called “business income” and is reported on a separate form (Schedule C) from income earned from “personal” or “non-business” activities. Non-business activities include things like working for wages, self-employment and rental activity. Let’s talk about each of these in turn. Working for Wages If you work for someone else and your job involves selling goods or services to customers, your boss will report the income on his or her corporate tax return. You may be able to claim a small amount of business income on your personal tax return (see below) but only if certain conditions are met.

If you are self-employed, you can choose to file either your own business return or the personal return. If you’re not sure whether you are self-employed or if you have any other questions about filing your taxes, feel free to call Bomcas Canada Accounting and Tax Services at 780-965-5250 or send an email to info@bomcas.ca. Self-Employment If you are self-employed, you can choose to file either your own business return or the personal return. For more information on how to decide what return to file, contact Bomcas Canada: How do I decide which type of return to file? Rental Income If you rent property to someone else for a fee, your landlord will report the income on his or her corporate tax return. You may be able to claim a small amount of business income on your personal tax return (see below) but only if certain conditions are met. If you’re not sure whether you are self-employed or if you have any other questions about filing your taxes, feel free to call Bomcas Canada at 780-965-5250 or send an email to info@bomcas.ca. Business and Non-business Income Income earned from your business is called “business income” and is reported on a separate form from income earned from “personal” or “non-business” activities. Non-business activities include things like working for wages, self-employment and rental activity. Let’s talk about each of these in turn.

Accounting and tax preparation services comparison in Canada

When it comes to accounting and tax preparation services, there are many options. However, when you’re looking for an accounting and tax preparation company in Toronto, Ottawa, Vancouver, Edmonton, Calgary you need to know what you’re getting into. Before choosing an accounting and tax preparation company in Toronto,  Ottawa, Vancouver, Edmonton, Calgary you need to ask yourself a few important questions. These include: How much do they charge? What kind of experience do they have?

Do they offer any guarantees? Can you be sure your data is safe with them? Is there an emergency phone number? What kind of payment methods do they accept? Are they PCI compliant? And finally, how long has the company been in business? The answers to these questions will help you determine if the accounting and tax preparation company you choose is reputable and worth the money. Here are some things you should consider when looking for an accounting and tax preparation company in Toronto,  Ottawa, Vancouver, Edmonton, Calgary: The first thing you should do is ask around. Word of mouth is one of the best ways to find out about local businesses. Simply ask your friends, your colleagues, your family, your associates, your clients, your neighbors and anyone else you think may have used their services.

Accounting and tax preparation services review in Canada

A full-service accounting firm is one that provides a wide range of business advisory services. The term “accounting” refers to the information that is kept and processed, as well as the method used to record transactions. A firm that provides accounting services is called an “accountant many times.

” Accounting services are used by businesses, organizations, and individuals to keep track of their financial information. These services can be provided through a full-service accounting firm or an accountant. Many people have a good understanding of accounting, but they may not understand all the tax laws and rules that apply to them. The accounting service professional will make sure that the financial records of the client are accurate and up-to-date, and will prepare a report for the client to help him/her with the tax requirements.

Once of the good place to check for Accounting and tax preparation company reviews is on google.ca canadabillboard.ca and yelp. A good Accounting and Tax Preparation Company in Canada is one that provides good customer service. They should be willing to answer your questions about the accounting services you require and how they can help you. The best Accounting and Tax Preparation Company should be able to provide you with some samples of their work so that you can see what their work looks like. It’s always a good idea to ask for references, and if possible, request a phone call from one of their clients. Accounting and tax preparation services reviews in Canada We have done a review of many Accounting and Tax preparation services, and we have listed them below: Bomcas Canada, is a Canadian Professional tax Accountant firm, located in Edmonton, AB. Bomcas Canada has been in business for many years. They provide professional tax services for individuals, partnerships and corporations. Their services include preparing income tax returns, assisting with tax audits and resolving any tax related issues. They also offer a wide range of financial accounting services to help individuals and businesses manage their finances. Bomcas Canada offers a full range of services that are available online through their website. You can find all their services and rates on their website www.bomcas.ca.