Personal Tax Preparation Services
Income Tax Return Filing: Assistance in preparing and filing personal income tax returns with the CRA, leveraging all relevant tax deductions and credits to maximize refunds or minimize tax liabilities.
Tax Planning and Advice: Providing individuals with strategies for tax savings throughout the year, which encompasses advice on investments, charitable donations, and other financial decisions that impact personal taxes.
CRA Representation: Offering representation for clients in front of the CRA during audits, appeals, and for resolving any disputes or issues related to personal taxes.
Business Tax Preparation Services
Corporate Tax Filing: Support in preparing and filing tax returns for corporations, partnerships, limited liability companies (LLCs), and other business entities, ensuring compliance with CRA regulations.
Tax Strategy and Compliance: Strategic tax planning services to help businesses optimize their tax positions while fully complying with Canadian tax laws. This includes advice on business transactions structuring, entity
selection, and maximizing tax deductions.
Payroll Tax Services: Managing payroll tax reporting and compliance, including the calculation of payroll taxes, filing of necessary forms, and ensuring timely tax payments to the CRA to avoid penalties.
Sales Tax Services: Assisting businesses with the collection, reporting, and remittance of sales taxes (GST/HST/QST), navigating the complexities of sales tax regulations across different provinces and territories.
Sohal Accounting and Tax Services prides itself on its up-to-date knowledge of the latest Canadian tax laws and regulations to provide accurate and effective tax solutions. Their team of experienced professionals is dedicated to offering personalized services that meet the unique needs of each client, whether an individual or a business entity. The objective is to ensure that all clients achieve the best possible tax outcomes while maintaining full compliance with their CRA obligations.
Accounting Service
Sohal Accounting and Tax Services offers comprehensive bookkeeping services designed to meet the needs of both small and medium-sized businesses across various industries. Understanding the critical role accurate and efficient bookkeeping plays in the success of a business, we provide a range of services aimed at helping businesses manage their financial records effectively. Here's an overview of the bookkeeping services provided:
Core Bookkeeping Service: Financial Transaction Recording: Meticulously record all financial transactions, including sales, purchases, payments, and receipts, ensuring that every financial movement is accurately captured.
Accounts Payable and Receivable Management: Manage accounts payable (money owed by the business) and accounts receivable (money owed to the business) to maintain a clear view of the business's financial health.
Bank Reconciliation: Regularly reconcile bank statements with the business's own records to ensure accuracy and identify any discrepancies promptly.
Financial Reporting: Prepare financial reports such as income statements, balance sheets, and cash flow statements, providing business owners with a clear understanding of their financial position.
Advanced Bookkeeping Services
Budgeting and Forecasting: Assist businesses in creating budgets and forecasts to plan for future financial performance, enabling strategic decision-making.
Inventory Management: Track inventory levels, orders, sales, and deliveries to maintain optimal stock levels and minimize costs.
Payroll Processing: Handle payroll calculations, tax withholdings, and payments to employees, ensuring compliance with employment and tax laws.
Financial Analysis: Conduct in-depth financial analysis to identify trends, opportunities for cost savings, and areas for financial improvement.
Customized Bookkeeping Solutions: Sohal Accounting and Tax Services recognizes that each business has unique bookkeeping needs. They offer customized bookkeeping solutions tailored to the specific requirements of each client. This approach ensures that businesses receive the most relevant and efficient bookkeeping services, whether they need full-scale bookkeeping support or assistance with specific financial tasks.
Technology-Driven Approach: Leveraging the latest bookkeeping software and technology, Sohal Accounting and Tax Services streamlines bookkeeping processes, ensuring that financial data is kept secure and up-to-date. This technology-driven approach allows for real-time financial insights, enabling business owners to make informed decisions promptly.
Sohal Accounting and Tax Services is committed to providing high-quality bookkeeping services that contribute to the smooth operation and growth of your business. With their professional expertise, businesses can expect to achieve better financial organization, compliance, and strategic financial planning, all of which are crucial for long-term success.
Commissioner of Oath
Sohal Accounting and Tax Services extends its professional offerings to include the services of a Commissioner of Oaths. This role is crucial for various legal and administrative processes, ensuring that oaths, affirmations, and statutory declarations are properly administered in accordance with the law. Here’s a detailed overview of what the Commissioner of Oaths services at Sohal Accounting and Tax Services entail:
Role and Responsibilities:
Administering Oaths and Affirmations: A Commissioner of Oaths has the authority to administer oaths and affirmations for documents that are to be used within the jurisdiction. This includes legal documents, statements, and applications requiring a sworn statement or declaration.
Witnessing Signatures: The Commissioner of Oaths can witness the signing of legal documents, ensuring that the signatory is who they claim to be and that they understand the contents of the document they are signing.
Certifying Documents: Certifying that copies of documents are true copies of the original. This is often required for legal processes, applications, and various submissions where original documents cannot be submitted.
Types of Documents: Commissioners of Oaths are typically involved in the processing of a wide range of documents, including but not limited to:
Affidavits: A written statement confirmed by oath or affirmation, used as evidence in court.
Statutory Declarations: A legal document required by law or regulation in which an individual makes a declaration or statement of fact, sworn to be true.
Acknowledgments: Formal declarations before an authorized official (the Commissioner of Oaths) by someone who has signed a document, confirming that the signature is their own.
Certified Copies: Certifying that a copy of a document is a true copy of the original.
Importance and Benefits: Having access to a Commissioner of Oaths within Sohal Accounting and Tax Services provides clients with a convenient and reliable resource for legal document processing. This service is particularly beneficial for:
Individuals and Businesses: Requiring affidavits, statutory declarations, or the certification of documents for legal, property, and business matters.
Streamlined Processes: Reducing the need to seek out separate legal services for the administration of oaths and other related needs, thereby saving time and resources.
Expert Guidance: Providing clients with the expertise and guidance necessary to ensure that their documents are processed correctly and in compliance with legal requirements.
Sohal Accounting and Tax Services ensures that clients have access to a comprehensive suite of services under one roof, including the specialized service of a Commissioner of Oaths.