If the Canada Revenue Agency (CRA) tells you it’s reviewing one or more of your tax returns, don’t panic! In most cases, it’s simply a routine check.
Read more What to do if the Canada Revenue Agency reviews your tax return?What We Offer?
We provide an all-in-one bookkeeping, accounting, payroll, and tax service to Canadian small businesses. All for a flat monthly fee.
Bookkeeping & Income Tax Filling
AP Financial Services provides bookkeeping and income tax filing services to help you focus on your business.
Accounts Receivable
AP Financial Services will help speed up your cash flow by processing your receivables accurately and on time.
Accounts Payable
AP Financial Services will ensure your current balances are efficiently and accurately up-to-date, indicating all open debt obligations.
Bank & Credit Card Reconciliation
To make sure your accounts are accurate by means of comparing your ledger of transactions to your bank records, a bank reconciliation must be performed.
Government Filing
Government filing is a burden to businesses. AP Financial Services will take care of your GST/HST, PST, Payroll source deductions, WSIB, and EHT filing.
Corporate Income Tax
AP Financial Services provides quality assurance accounting services to ensure the Corporate Income Tax (T2) associated with your organization is prepared and submitted correctly.
Personal Income Tax
AP Financial Services provides tax preparation and e-file services to make sure your tax return is prepared and submitted accurately and on time while maximizing the deductions that are allowable to you.
Payroll
AP Financial Services accurately process your payroll, and make sure your business is complying with all payroll tax obligations. In addition, we prepare the government payroll remittance (PD7A), record of employment forms (ROE), and year-end T4, T4A and T4 summary.
Financial Reporting
Accurate and timely financial reports are essential tools that guide your business to go in the right direction. AP Financial Services will prepare the financial statements such as balance sheets, income statements, accounts receivable/payable aging reports.
Articles
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Nov, 11
Seven ways your family can save at tax time.
Raising a family can be expensive, but there are many benefits, credits, and deductions that can help your family with costs during the year. They could even lower the amount you owe at tax time!
Read more Seven ways your family can save at tax time. -
Nov, 11
Eligible medical expenses in depth
You can claim only eligible medical expenses on your tax return if you, or your spouse or common-law partner: paid for the medical expenses in any 12-month period ending in 2016 did not claim them in 2015. Generally, you can claim all amounts paid, even if they were not paid in Canada. For all expenses, youRead more about Eligible medical expenses in depth[…]
Read more Eligible medical expenses in depthNov, 11
What Is an RDSP?
A registered disability savings plan (RDSP) is a plan designed to help parents, family members, and others save for the long-term financial security of an individual who is eligible to receive the disability tax credit (DTC).
Read more What Is an RDSP? -
Nov, 11
Disability tax credit
Individuals suffering from a severe and prolonged mental or physical impairment can claim a federal disability amount of $8,001 for 2016. If the person with a disability is a child under 18, there’s an additional supplement of $4,667 for 2016, for a total disability amount of $12,668. To qualify, a doctor must certify on FormRead more about Disability tax credit[…]
Read more Disability tax creditNov, 11
The home office
If you work out of your home you may be able to deduct a portion of your home office expenses. However, there are a number of rules, and the rules differ depending on whether you’re self-employed or an employee.
Read more The home office -
Nov, 10
Tax free income ?
Almost all types of income are subject to income tax. However, there are some exceptions. Lottery winnings in Canada and gains from casual gambling are not taxable.Proceeds from damage awards are generally tax-free and, under certain circumstances, income earned on damage awards for taxpayers under 21 years of age is also exempt until the taxpayerRead more about Tax free income ?[…]
Read more Tax free income ?