Personal Income

Save yourself time and money by having an expert file your taxes for.

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Canadian Personal Income Tax Filing

Preparing & filing personal income taxes is a part of life in Canada, but it needn’t be a burden. Our personal income tax accountants keep track of the constantly evolving rules and regulations surrounding taxation, making sure your taxes are prepared & filed with all the “I’s” dotted and “T’s” crossed, and that you get the most favourable tax situation possible. The expert accountants at Smith & West will ensure that you do not miss out on any tax deductions while remaining fully compliant.

Let us handle preparing and filing your tax returns so you can free up time and lower the stress in your life. Contact us today to talk with one of our personal income tax experts in Ottawa.

Why Your 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 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 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

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.

Our Business Advisory Services in Ottawa, Canada

Thanks to a wealth of extensive experience working with companies of all sizes and stages of growth, our business advisory & consulting experts can advise you on issues such as:

  • Management

Our business advisory and consulting experts can offer invaluable insights into effective management strategies. We will provide an in-depth analysis to guide decision-making and realize your business’ fullest potential.

  • Corporate Finance

We aim to create value for your business every chance we get. We can provide you with tailored advice on your financial planning, budget decision, and acquisitions and investment strategies to ensure your financial health and growth.

  • Benefit Plans

Crafting competitive and attractive benefit plans is important for attracting and retaining top talent. Our advisory team can help you design and implement benefit plans that meet the needs of your employees while still aligning with your company’s goals and values.

  • Outsourcing

Outsourcing can be a strategic move to improve efficiency and reduce costs. Our business advisors can guide you through the process, helping you identify the right outsourcing opportunities and manage vendor relationships effectively.

  • Pricing

The right pricing strategy determines profitability. Our consultants study your market and competitors to create a pricing plan that maximizes your revenue while simultaneously delivering exceptional value to your customer base.

  • Grants, Bursaries & Fundraising

Accessing grants and fundraising opportunities can provide vital financial support for your business or projects. We have a proven track record of assisting clients in securing grants, bursaries, and raising funds to fuel growth and innovation.

Contact us today to find out how engaging the business consulting and advisory services of Smith & West could be one of the best business decisions you’ve ever made.

Our Personal Income Tax Preparation Services

No matter the source of your personal income, we can help you prepare and file your income tax with the Canada Revenue Agency (CRA). This includes accurately preparing and filing any of the following tax forms:

  • Employment Income (T4, T4A)
  • Pension and Annuities (T4A, T4A(OAS), T4A(P), T4RIF, T4RSP)
  • Investment Income (T5, T3, T600, T5008, T5013 or T5013A)
  • Registered Retirement Savings Plan (RRSP) Income- (T4RSP)
  • Income from Self Employment
  • Other Income (T4E, T4PS, T5007, RC62, RC210)
  • Foreign Assets
  • Rental Income
  • Schedule of Capital Gains and Losses
  • Debt Forgiveness

Contact us today to find out more about Smith & West’s personal income tax preparation services.

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Dedicated Chartered Professional Accountants & Business Advisors