Hire the Experienced Tax Professionals for GST/HST Compliance
The Canadian value added tax of GST or HST (Harmonized Sales Tax or HST in several provinces; GST or Goods & Services Tax in others) is required for nearly every business transaction in Canada. Staying compliant with HST/GST regulations and on-time collection, filing & payment are crucial steps in your business that cannot be overlooked. Whether you are establishing a business and setting up your HST/GST registration, or you own / manage ongoing business, your best bet is to hire tax professionals to handle your HST/GST compliance.
At Smith & West, we’re an Ottawa-based firm of chartered professional accounts with a depth & breadth of experience in HST/GST compliance, including registration, collection, filing, payment, audits and more.
Why Your Small Business Needs a Tax Accountant in Ottawa
Accounting is a crucial business function when beginning a small firm. It gives business owners the clearest insight into the performance of their operations. Additionally, for tax and regulatory reasons, entrepreneurs must maintain a wealth of records of their small businesses.
- Forecast Business Outlook
Entrepreneurs typically draft a business strategy that contains financial reports, an economic outlook, and projected expenditures. Lenders and investors rely largely on this accounting information to make sure that the business owner has a clear understanding of the expected financial results.
- Plan Budget
Making a budget is a crucial accounting task when beginning a small business. Budgets lay out the costs associated with various business activities. Businesses may set aside money for recruiting staff, marketing plans, stock purchases, and other forms of business expenses. Entrepreneurs can save money by adhering to a budget and avoiding spending it on non-essential business expenditures.
- Determine Revenue and Profits
Most often, a business will gauge its profitability through accounting. Businesses must determine how effectively they are employing their resources to produce services as well as how the cost of their inventory compares to their profit margin.
- Gain Insight
Small businesses may seek guidance from a certified public accountant. They offer a wealth of education, expertise, or skill when assisting entrepreneurs in arranging their business accounting processes. Business owners may also want expert advice when submitting tax returns and making sure all business-related expenses are covered at year’s end.
Grow Your Business With an Ottawa Small Business
Our team of chartered professional accountants at Smith & West develops tailored strategies to meet the requirements of your company. We do this by using in-depth expertise of the most recent CRA laws. You can trust that we always have your best interest and bottom line in mind. We’ll work with you to integrate tax consulting and advising services into the bigger financial picture of your small business.
Why Choose Smith & West as Your Accounting Firm
We are your trusted team for accounting, tax, & consulting with integrity, quality, and professionalism.
Chartered Professional AccountantsOur CPA team is committed to quality work based on a bedrock of knowledge.
One-Stop Firm for Accounting, Tax & FinanceWe have a depth of accounting & finance experience to meet all your needs.
An Individual, Customized ExperienceWe provide tax, accounting, & advisory solutions with a personable approach.
Professional Tax Experts in GST/HST Audit & More
While complex and bureaucratic, Canada’s GST/HST laws and regulations are immovable features in the business landscape. Failure to comply with GST/HST code, especially in collection and/or payment, can result in a GST/HST audit. Should you be facing a GST/HST audit, Smith & West has the experienced tax specialists who can help. We also work with a wide range of business clientele in GST/HST planning, registration, collecting, filing and payment, as hands-on or on a GST/HST consulting basis, to keep your business running smoothly.
Talk to the Ottawa-based GST/HST tax experts at Smith & West today, and find out how we can help with your business’s needs when it comes to staying with GST & HST.
Frequently Asked Questions
The trusted team for accounting, tax & consulting with integrity, quality and professionalism.