small business accounting firm

What to Look for in an Accountant for Your Small Business

As the owner of a small business, you understand the importance of hiring an accounting firm. With professional services, you may reduce your tax obligations and enhance your revenue. What’s more, you can minimize the stress of managing your taxes. 

With a professional accountant managing the heavy lifting, you can use the extra time and resources to focus on your business and generate revenue. However, with so many accountant firms to choose from, how do you pick the right one? Here’s what to look for in an accountant for your small business:

Specialists in Small Business Accounting

At Tangs Accounting — we’re considered a premier small business accountant in Toronto because we specialize in assisting small to medium-sized businesses. We have a unique insight into a small business’s needs, unlike firms that typically serve big companies. 

We are adept at maintaining and establishing a small business’s financials and will walk you through every step of the process. From registering your business to your accounting system’s set up, we will be by your side to help you manage your financials.

Certified Public Accountants

Remember to always work with an accredited public business accountant who can provide professional services. Our CPAs have an in-depth knowledge of business accounting, taxation practices, and related regulations.

Many Years of Experience

When shopping for small business accounting services — it’s a good idea to hire an experienced firm. Only a firm with a wealth of experience across a broad range of industries is likely to have insight into the unique demands of your operation.

At Tangs Accounting — we’ve been in the business for over ten years. In that time, we’ve served many small businesses across some of the following industries:

  • Bloggers & Creative Professionals
  • Insurance Agents & Brokers
  • Real Estate Agents & Brokers
  • Online Stores & Businesses
  • Restaurants & Food Trucks
  • Home Repair & Maintenance Services
  • Dentists & Orthodontists
  • Auto & Glass Repair Shops
  • Brick and Mortar Retail Shops
  • Chiropractors & Physical Therapists
  • Construction & Other Trades
  • Law Firms & Attorneys

Passionate About Accounting

You’ll always get better services when you hire people who are passionate about their work. At Tangs Accounting, we love everything about accounting. That’s why we’re so good at it! What’s more, we enjoy helping small businesses because we realize that they’re the heart of the Canadian economy

We love that nearly 98% of all businesses in Canada are small businesses. Such companies also employ countless people and contribute so much to the Canadian economy and culture. For our passionate team, serving small businesses is a pleasure. 

Empathy with Clients

At Tangs Accounting — we treat every client with compassion and respect. We understand that you may face some unique challenges, and we’re here to help. 

Digital Services

Small Business Accounting Firm

It’s essential to find an accounting firm that offers complete online services during the COVID-19 pandemic. If your business is facing lockdown or shelter-in-place orders, then you can use our full suite of business accounting services. 

Small Business Accounting Online

Our online business accountants are certified and help small and medium-sized businesses manage their finances. We provide remote accounting services that are effective and adaptable. 

Our virtual accounting services allow our business accountants to work closely with you, yet from a safe distance. We understand the unique obstacles that come with starting and operating a new business and will help you alleviate these pressures by managing your business’s accounting on your behalf.

Online Bookkeeping

Bookkeeping plays an essential role in managing and maintaining a business’s financials and operations. Tangs Accounting Services offers online bookkeeping services to help business owners manage their corporate finances while maintaining their ongoing safety and convenience.

Our online certified business accountants will work with you to ensure all your information is tracked and filed all year round. Through our virtual bookkeeping services, we provide flexible and remote bookkeeping to ensure business owners’ comfort.

Corporate Tax Services

Your corporate tax is payable against a company’s profits and imposed by the state. It’s calculated by factoring 38% of your taxable income after the 28% federal tax abatement. We will help you calculate your corporation tax and identify the tax you should be paying.

We also provide several other corporate tax services to small and medium-sized businesses in Toronto.

  • T1 Filing: As the sole proprietor of your business, you’re responsible for all your tax obligations and must file a T1 tax return. Remember, even if you need to file a T2 corporate tax return, you must still file a T1 form to reflect your personal income. A T1 can also show all foreign income, including US income. We can help you file your T1 tax return on time and without errors.
  • T2 Filing: If you’re not a sole proprietor, charity, a member of a Hutterite colony, or if you don’t have special tax-exempt status, you must file the T2 tax return. With our professional and detail-oriented services, you can meet your corporate income tax responsibilities.
  • GST/HST Returns: All registered businesses must collect, file, and pay the Goods and Services Tax (GST) and the Harmonized Sales Tax (HST). They must file the return even if they have no net tax to remit. At Tangs Accounting — we can address all issues related to your GST/HST Returns. 
  • Non-Resident Tax Issues: If you live in another country, lack residential ties to Canada, or stay in Canada for less than 183 days in a tax year, you must file a T1-NR Tax Return. We help you understand the income tax rules and identify the right channel for you to file and claim your taxes.
  • Tax Audit Representation: A reassessment letter from the CRA can be challenging for any busy business owner to manage. We take the burden off your shoulders by dealing directly with the CRA with our tax audit representation services.
  • Tax Planning: Proactive business owners can use our tax planning services to stay one step ahead of the tax season.
  • Business Advisory: Whether you need to appeal a case, amend previous tax returns, or need any other professional advice, you can rely on Tangs Accounting for input. 
  • GST/HST Housing Rebate: We can help determine if you’re eligible for the GST/HST rebate for your future investment property. We can also compile all necessary documentation for the return. 

At Tangs Accounting — we’re the right team for your small business because we’re experienced, qualified, compassionate, and passionate about what we do. What’s more, we offer a full suite of services for your accounting needs. 

Please contact us today to learn more about how we can help you. We would love to hear from you!