small & medium businesses

SMB Accounting Solutions

Powering Growth for Small and Medium Businesses

or

At Dean & Associates, we understand the unique financial needs of small businesses who require the specific approach of an accountant for small business. Our team of experienced accountants provides a range of services including bookkeeping, tax planning and preparation, and financial consulting. We work closely with our clients to help them achieve their financial goals and grow their businesses. Let us take care of your accounting needs, so you can focus on running your business.

Block Fee's Packages:

• Electronic cloud based Bookkeeping
• CRA online access business and personal
• Advance Tax Planning
• Corporate Return (T2) and HST filings
• Financial Statements (Compilation)
• Personal return (T1) Complimentary

For business owners we pride ourselves on proactive management of your company to maximize your tax deductions and be compliant with CRA. We handle all your accounting needs so you can focus on growing your business. We want to be your business partners.

A small business deduction is available for the first $500,000 in business net income.

The corporate tax rate is 13.5% vs over 53% for persona in Ontario. It is critical to understand the tax benefits of incorporating and pay yourself in the most tax efficient manner.

Tax Planning:

• Income splitting, Dividends vs Salary, Shareholder loans
• Electronic Bookkeeping services (Monthly and annual basis)
• Financial Statements – Assistance with Bank loan compliance
• Managing your incorporation to filing of corporate taxes, monthly
• bookkeeping, HST filing, annual T4 and T5 filing, Financial statements.
• Assisting with the setup of the corporation (common vs preferred shares)
• for income splitting
• Shareholder agreements
• Review of all allowable tax deductions
• Vehicle
• Office – Home office, rented space
• Meals and Entertainment
• Gifts
• Travel
• Salaries Insurances (Life, Health)
• Leasehold Improvements
• Marketing / Advertising
• R & D

Payroll (Manual and Automatic) We work with our partners at ADP to provide you discounted automatic payroll for your staff. We also manage payroll for your small business.

Should I lease or buy a company car?

The CRA allows you to deduct $800 plus HST for a monthly lease payment. Capital cost allowance is allowed on a vehicle that costs $30,000 plus HST. Every situation is different and requires different solutions. Any amount over and above this would be treated as a benefit to the executive who drives the luxury vehicle.

EV Vehicles

Currently the government is giving an incentive to get a CCA deduction of up to $55,000 per vehicle. Call us to find out more and how this can assist you in your next purchase. The vehicle ownership and insurance should be under the corporation for claiming this.

Income splitting thru Dividends

Only 1/3 of dividends are taxable so effectively an individual with no other income can take up to $47,000 without any personal taxes. If you are owner of a company it is critical to consider who can you make common and non-voting shareholders for income splitting purposes. An individual can earn upto $50K in tax-free dividens personally as long as they don't have any other source of income.

Sole Proprietors (Non Incorporated – Business Returns)

Electronic t1 (professional personal tax return) filing
Tax saving strategies (rrsp) and allowable expenses and deductions.
Dealing with cra inquiries and reviews
Open communication with accountant
Electronic bookkeeping (separation of professional vs. Personal expenses) pro-active vs. End of year.

Incorporated Small to Medium Business – Packages

Electronic t1 (personal tax return) filing – complimentary
Corporate return t2 electronic filing
Financial statements
Dealing with CRA (audits, reviews)
Payroll for employees (basic and electronic with ADP partnership with preferred prices.
Tax strategies – payroll vs. Dividend, shareholder loans, maximizing allowable deductions, personal vs. Business split.

Access to accountant throughout the year and proactive management of your practice.

As a small business owner in Mississauga, Burlington, Ottawa, Toronto, Markham or London, you may have enough on your plate without worrying about your finances. That's where Dean & Associates comes in. Our team of expert small business accountants in our 6 locations are dedicated to providing top-notch accounting services. Let us handle your finances so you can focus on what you do best. We provide accounting services for small businesses, medical professionals such as doctors and more. Contact us today to schedule a consultation and see the difference that a trusted accountant can make."

** ** Fees will cover compliance engagements and prices will vary based on your unique circumstances, billing, and additional dealings with CRA on existing matters and your stage of the practice will influence your package.

Get the expert help that you need with your accounting and taxes. Contact our Mississauga Tax Accountant for Medical Professionals.

Accountant for Small Business in Mississauga, Toronto, Ottawa, London, Burlington, Markham.