Preparing & Filing US Corporate Income Tax Returns
If your business has operations in the United States or earns income in the US, you are subject to US tax codes and must file corporate income taxes in the US. The United States Internal Revenue Service (IRS) is one of the more officious governing bodies you’ll ever come across, and its rules and regulations are both highly complex and ever-changing. To avoid falling on the wrong side of IRS business tax code and continue to do business in the US, you’ll need to file US corporate income taxes in full compliance.
At Smith & West, we have specialists on our Ottawa-based team who are experienced with US corporate income taxes and have full knowledge of IRS corporate tax code. Find out how we can help with your US corporate income tax needs.
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.
The Complex & Ever-Changing US Corporate Tax Code
The tasks of preparing, filing and paying US corporate income taxes can seem herculean at times, due to the labyrinth of IRS rules and regulations that are complex and challenging to navigate. You may be considering either tackling your US corporate income tax in-house, or hiring accountants in the US. At Smith & West, we offer a viable alternative, thanks to the US corporate income tax experts on our Ottawa-based team. We understand the unique challenges of our Canadian clientele, and we can serve you more effectively by being local to you yet fully versed in US tax code (especially as it relates to businesses).
The US corporate income tax team at Smith & West has the experience and thorough, up-to-date knowledge necessary to help plan, prepare and file your US corporate income taxes. Contact us today to find out more.