Expertise.

Commitment.

Value.

Welcome to A – Z Tax and Accounting. Our company provides bookkeeping, payroll, income tax preparation, and many other accounting services for individuals and small businesses in Peel Region.

Financial accounting can quickly become overwhelming while concentrating on your core business. Out-of-date or poorly prepared records can actively hinder your business. Our company solves this problem by offering high-quality services at competitive rates. We are a

full-service & tax accounting firm with dedicated & dynamic professionals. We are not just accountants but trusted business advisors.

Imran Tekrawala holds Masters of Commerce Degree specializing in accounting & Auditing and completed CGA level 4 and is currently registered with USA CPA (Certified Public Accountant) and pursuing CPA-USA. He has in-depth knowledge and experience in providing accounting services to businesses and individuals.

Our Vision

Quality & Excellence

We are committed to delivering the highest quality service to our clients. We are dedicated to acquiring knowledge to improve services for you and your organization continuously. Our services help you add significant value to your business and meet your expectations and goals. We are committed to delivering services of the highest quality to our clients. Our Motto is “Always giving you extra.”

Accounting Services

Our company goal is to take your business to the next level. Hand us all your paperwork in a file/folder regularly. We can pick up your file from your office, or you can send it to us by mail or email. We will process your information in our system and send you the bookkeeping records, up-to-date reports, completed GST/HST, payroll, and WSIB government filing returns.

Accounts Receivable:

• Invoicing your customers
  
• Receiving payments
  
• Making deposits
  
• Generating aging reports
  
• Collection
  

Accounts Payable:

• Recording vendor bills
  
• Scheduling payments
  
• Making payments
  
• Printing cheques
  
• Generating aging report
  

Year-end Closing and Financial Statements:

• Trial balance
  
• Year-end adjusting costing
  
• Tracking costs by job
  
• Preparing job profitability reports
  
• Budgeting
  

Other related services:

• Set up a Chart of Accounts
  
• Monthly Bank Reconciliation
  
• HST Claim
  

Job costing:

• Tracking costs by job
  
• Preparing job profitability reports
  
• Budgeting
  

Other related services:

• Set up a Chart of Accounts
  
• Monthly Bank Reconciliation
  
• HST Claim
  

Payroll Services

• Paystub
  
• Statement of account for current source deduction
  
• Payroll remittance
  
• T4, T4A, and T5 information slip
  
• WSIB remittance
  
• Record of employment
  

Government Auditing

• Providing lifetime support with financial auditing
  
• Assisting in CRA auditing
  

Tax Services:

Corporate Tax Returns (T2):

Corporate taxes are a massive aspect of our business. We deal with many corporate accounts, day in and day out, so we know about the corporate tax system. Corporate taxes require the tax preparer to understand the corporate structure and its purpose correctly. After we have an initial meeting with you, we know your end goal and consider your future tax planning; we take over from there. We understand and specialize in corporate taxes.

Our corporate tax return package is made specifically with your corporation in mind. We look at which of our services would suit your situation best. We customize our business model for you. Let’s quickly take a look at some of the services we provide.

We provide comprehensive support to ensure that your firm is in compliance with CRA. Whether you have non-filed tax returns or have been audited by the CRA, you can count on us to help you get on the right track.

Personal Tax Returns (T1):

Self-employed Income Tax

If you work as self-employed, income is reported on your personal income tax return (T1). Self-employed individuals generally use a December 31 year-end. The return is due on June 15th.

You can deduct all expenses incurred in the conduct of your business. We will ensure you claim all allowable expenses to minimize your taxes and help you claim tricky expenses properly to avoid tax audits. We will help you properly claim the tricky expenses, including but not limited to automobile, office, meals, and entertainment expenses, to avoid a tax audit. We also provide advice on other issues such as GST, employing family members, payroll tax submissions, etc.

Employment Expense

Employers must complete Form T2200 - Declaration of Conditions of Employment to legitimize these deductions.

Employment expenses for salaried employees include travel expenses, supplies, allowable motor vehicle expenses, etc. Employment expenses may be entitled to deduct an amount paid for living accommodation. Additional deductions, such as advertising and promotion, are available for commission-based employees. Employees claiming expenses on their tax returns may be entitled to claim the GST/HST paid.

Rental Income Tax

If you have rental properties, you are required to report your rental income to Canada Revenue Agency on your personal tax return in a specific manner. The expenses must be prorated if you rent part of your house. You may have to report a capital gain when you sell your property.

Tax on Investment

There are three types of investments: interest income, capital gains, and dividends. Each type of investment varies in taxation rates. Interest income is 100% taxable. Capital gains are the profit realized on the sale of an asset, such as stocks and mutual funds. Capital gains are 50% taxable. Dividends are distributions of a company's profits that are earned by investing in stocks or mutual funds. It is based on a mechanism of gross-up and dividend credit. Dividends received from foreign companies do not qualify for dividend tax credits and are 100% taxable, the same as interest income.

Generally speaking, capital gains are the most tax efficient and are followed by dividends. Interest income is the least tax-efficient investment income. Capital losses can be used against capital gains. Unused capital losses in the current year can be carried forward indefinitely and carried back to the previous three years to offset capital gains in those years.

You may be able to deduct certain expenses related to your investments. These expenses may include interest paid on money borrowed to invest, investment counsel fees, safety deposit box charges, etc.

Family Tax Returns

If your spouse cannot benefit from certain tax credits, for example, credits on tuition fees, pension or disability, age, and spouse credits, those credits can be transferred to you.

If you are a single parent and you have dependents living with you, you may be entitled to an amount for an eligible dependent credit. Claim all donations on one spouse's tax return. In addition, you may be able to claim a first-time donor super credit. Claim all medical expenses on the return of the spouse with lower income if the lower income spouse can use the credit.

You may be entitled to claim child-care expenses incurred for any child 16 or under. Claim children's fitness credit and art credit. If your child is a student and does not have enough income to claim all of the tuition, education, and textbook credits, up to $5000 can be transferred to a parent or grandparent. In addition, a child's unused disability credit can be transferred to a supporting parent or other members. Please ensure you file returns for your children if they earned any income, even if they do not owe taxes. This will create an RRSP contribution room, saving them tax later when contributing to an RRSP.

If you or your spouse receives eligible pension income, splitting pension income between you and your spouse may reduce overall taxes.

If you provide care in your home for an elderly or infirm relative, you may be eligible to claim the caregiver's tax credit, but you must provide the dependent's income.

GST/HST

Let our accounting professionals handle your GST/HST

commitments, from the sale to the filing of returns while you

focus on developing/running your business.

Online Bookkeeping / Cloud Accounting

Paperless bookkeeping services and maintenance of all supporting documents at the click of a

button. Reduce physical waste and secure cloud-backed storage of your company’s vital

records. It helps to take care of the environment and your bottom line. Our real-time online

service means you can access updated reports anytime, anywhere.

We aim to provide better top-to-bottom online accounting services and workflow processes,

by making these services more “secure, accessible, and efficient through a cloud-based platform.”

Our cloud accounting solutions ensure that your entire financial infrastructure runs in a

a secure environment that offers ironclad protection while putting real-time data accuracy

at your fingertips.

Pricing

We have many transparent and flexible pricing options, See below and choose any one that can be upgraded at any time.

Bookkeeping Plans

Basic bookkeeping/Accounting plan - $350/m

• Up to 2 employees
  
• Up to 200 transactions (Revenue and Expenses) / per month
  
• Reconcile 2 to 3 credit/bank accounts
  
• 2 employees' payroll setup
  
• T4's for your employees
  
• Monthly/annual financial statements
  
• HST/EHT/WSIB Filling
  
• Annual Corporate Tax / Filling
  
• 2 Personal Tax Filing
  

Payroll Plans

Standard Bookkeeping / Accounting Plan $500 / m

• Up to 5 employees payroll setup
  
• Up to 350 transactions (Revenue and Expenses) / month
  
• Reconcile 5 credit/bank account statements
  
• Cashflow Analysis
  
• HST/EHT/WSIB Filling
  
• T4's for your employees Monthly/annual financial statements
  
• Annual Corporate Tax / Filling
  
• 2 Personal Tax Filing
  

Premium Bookkeeping / Accounting Plan $750 / m

• 5-10 employees
  
• Up to 500 transactions (Revenue and Expenses) / month
  
• Reconcile five credit/bank/PayPal account Statements
  
• 10-employee payroll setup
  
• Cashflow Analysis
  
• 
  
• Budget & Variance Analysis
  
• HST/EHT/WSIB Filling
  
• Annual tax filling
  
• T4's for your employees Monthly/annual financial statements
  
• 2 Personal Tax Filing
  

1-5 Employees - $100.00/m

• Semi-monthly or bi-weekly payroll processing
  
• Monthly payroll deduction report (PDA7)
  
• T4 Processing to CRA
  

6-15 Employees - $175.00/m

• Semi-monthly or bi-weekly payroll processing
  
• Monthly payroll deduction report (PDA7)
  
• T4 Processing to CRA
  

16-30 Employees - $250.00/m

• Semi-monthly or bi-weekly payroll processing
  
• Monthly payroll deduction report (PDA7)
  
• T4 Processing to CRA
  

30-50 Employees - $325.00/m

• Semi-monthly or bi-weekly payroll processing
  
• Monthly payroll deduction report (PDA7)
  
• T4 Processing to CRA
  

Count on us to provide top to bottom accounting solutions for your firm.

Tax Guides

Individual

http://www.cra-arc.gc.ca/E/pub/tg/5000-g/5000g-14e.pdf

Corporation

http://www.cra-arc.gc.ca/E/pub/tg/t4012/t4012-15e.pdf

Tax-Free Savings Account

http://www.cra-arc.gc.ca/E/pub/tg/rc4466/rc4466-14e.pdf

RRSP

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/rrsps-eng.html

Lease Vs. Buy

http://www.cchwebsites.com/content/calculators/CABuyvsLease.html

Mortgage Calculator

http://www.cchwebsites.com/content/calculators/CACompareMortgage.html

Let's work together.