Business Incorporation Services

Explore seamless business incorporation with GTA Accounting. We navigate incorporation laws adeptly, guiding you to the most beneficial structure for your business. Serving business owners across the GTA, including Toronto, Oakville, and Mississauga, our expert services ensure a smooth and strategic start to your entrepreneurial journey. Let's build your business foundation together.

Professional Corporations

Unlock the potential of your profession with Professional Corporations at GTA Accounting. Certain professional organizations permit members, such as dentists, pharmacists, doctors, lawyers, and more, to establish Professional Corporations. Functioning like regular corporations, these entities are tailored exclusively for delivering specific professional services. Let us guide you through the seamless creation of your Professional Corporation, ensuring your practice thrives within the bounds of regulatory excellence.

Why Incorporate?

Elevate your business strategy with incorporation – the cornerstone for long-term success. At GTA Accounting, we emphasize the pivotal shift to incorporation, shielding you from personal liability concerning business debts and legal matters. Benefit from our expert guidance and unlock the advantages that come with incorporation. Secure your business future with the recommended strategy for lasting prosperity.

Partner with us for seamless business incorporation:

• Business set up by a seasoned CPA
• Customized share structure for future growth
• Hassle-free setup with CRA: HST, Business Number, Payroll, WSIB
• Expert assistance in staff hiring
• In-depth advice on tax obligations
• Strategic tax planning for reduced liabilities
• Guidance on effective bookkeeping for CRA compliance
• Year-end tax filing and bookkeeping services
• Business advisory for tailored solutions
• Benefit from our experience and industry insight at no additional cost. Your success is our priority.

Comprehensive U.S. Tax Accounting Services:

U.S. Tax Filing Requirements:

As a U.S. citizen or green card holder in Canada, filing U.S. tax returns is mandatory. Our expert services cater to individuals facing the unique challenge of managing dual tax obligations. We keep you informed about cross-border tax changes, ensuring compliance with evolving tax laws.

Why Choose GTA Accounting:

Life can get busy, and understanding U.S. tax requirements can be overwhelming. We offer affordable cross-border tax accounting services to keep you on top of your tax obligations. Our team is dedicated to providing solutions tailored to your specific situation, and we are ready to assist with any tax-related queries.

Unique Tax Considerations:

Understanding U.S. tax returns for Canadians involves considerations such as income thresholds. If you surpass the required threshold, filing the general income tax form, Form 1040, is necessary. Our experts guide you through the complexities, helping you navigate additional forms and schedules associated with Form 1040.

Exclusion of Earned Income:

Good news for individuals earning income in Canada – you can exempt it from U.S. taxation by filing Form 2555. This form allows you to apply for an exemption of Canadian employment income from U.S. taxation, eliminating the need for Form 1116 to reduce U.S. calculated taxes on Canadian income.

Foreign Bank Account Reporting (FBAR):

If you are a U.S. citizen with financial interest in a foreign account exceeding $10,000, disclosure is mandatory. Our experts guide you through the e-filing process of FinCEN114, helping you avoid hefty fines and ensuring compliance with disclosure requirements.

Expertise in NPO Accounting:

Navigating the financial complexities of NPOs requires specialized knowledge, and GTA Accounting has the expertise to streamline accounting and taxation processes for numerous groups, societies, and clubs operating as non-profits. Our Chartered Professional Accountants understand the distinctive nature of NPO finances, ensuring compliance with relevant regulations.

CRA Guidelines for NPOs:

The Canada Revenue Agency (CRA) exempts NPOs from income tax, emphasizing their role in operating for the benefit of society. Our team assists in adhering to CRA guidelines, helping NPOs allocate revenue towards essential expenditures like employee salaries and directors' compensation. We facilitate the filing of annual information returns and T2 forms, ensuring compliance with CRA requirements.

Setting Up an NPO:

For those planning to establish an NPO, our tax advisors provide comprehensive assistance in meeting province-specific requirements. From completing essential documents like Form 4001 and Form 4002 to addressing the initial board of directors and articles of incorporation, we guide you through the incorporation process. Crafting bylaws, including financial record-keeping procedures, is crucial, and we ensure these structures align with tax regulations.

Filing Taxes for NPOs:

While NPOs may not be subject to income taxes, timely submission of form T1044 to the CRA is essential. Our Chartered Professional Accountants simplify the complex process of filing information returns, ensuring all submissions are accurate and submitted promptly. Following the Canada Not-for-Profit Corporations Act, we prepare financial statements in accordance with accepted accounting principles in Canada.