A- GCA Services provides high quality, full-cycle bookkeeping at an affordable rate. Full monthly bookkeeping can start as low as $100 per month! Although some companies believe that hiring an employee for internal bookkeeping is cost effective, statistics show that it could be more expensive than outsourcing on a monthly basis.
A - Simple answer- cost! You are not paying a large Chartered Accounting firm so the price is generally relatively lower. We have clients that utilize GCA for monthly bookkeeping while use their existing Chartered Accountants for corporate year-end filing. GCA works with other accountants- not against them. Our company goal is to help small businesses grow and alleviate accounting related stress off owners.
A- You should contact us immediately so we can obtain personal or business representation authority so we can speak to and negotiate with the auditor and solve any problems that exist on file.
In light of recent CRA bitcoin scams, do not provide any personal information regarding payment, especially crypto currency.
A- Absolutely! Whether you have fixed salary or variable hourly employees, we will prepare paystubs at the end of every pay period so you can pay them on time. We will prepare the monthly source deduction report on the first week of each month so you may pay the remittances well before the 15th.
We have online access to ROE Web so we can prepare Record of Employment on your behalf, once we have representation access. And we can file T4s at the end of the calendar year- before the February 28th deadline.
A- We have clients located all over Canada and the U.S. who partake in our E-bookkeeping Services, which is basically communication and file transfers through email or other secure file transfer services. If meeting with us is inconvenient due to your location or schedule, we can perform all bookkeeping electronically.
Yes we do. Basic personal tax returns start as low as $30 per person for up to three slips. Some conditions may apply.
A GST/HST Examination Review Letter was issued most likely because you received a refund in the period, or have foreign sales and therefore did not collect exactly 13% of line 101 (for ON sales for example) and the CRA wants to validate the authenticity of the transactions and report that was filed.
The letter will most likely ask for the top ten sales and top ten expense invoices with a detail breakdown of L105 and 108, among other questions. Because you only have a short window of time to reply with accurate supporting documentation, we strongly suggest seeking professional assistance in doing so. As once they disallow a credit or an exemption and close a period after a review, it is difficult (and overall more expensive) to reopen.
According to Uber.com, sales tax will be added on top of the fare as of July 1st 2017. This means that if you are an Uber driver, you must register for a GST/HST number regardless of how much income you received. Please contact us if you require registration or filing of GST/HST.
Most businesses in Ontario must register with WSIB within ten (10) days of hiring their first employee. There are a few exemptions based on industries and these can be found on the WSIB website at: www.wsib.on.ca
GCA can help with registering and setting up online e-wsib, calculating insurable earnings and filing and remitting premiums.
A- Not necessarily. CRA registration for a business number, GST/HST or Payroll account can be done by the business owner / director of the company or a representative. We represent all of our clients and can get this done for you for a small fee.
A- We recommend registering for GST/HST even if it’s voluntarily, if your business qualifies to do so. Contact us today to find out why. It may save you thousands! In one of our clients case, tens of thousands!
A- You most likely don’t have to remit the entire 13% that was collected on behalf of your customer. The CRA allows Input Tax Credits (ITCs) on valid Canadian business purchases that offsets some (or in some cases all) of the taxes that was collected in the tax period. If the ITCs are greater than the HST collected, you may be entitled to a refund! You are also allowed to bring forward unclaimed business expenses that is up to four (4) years from the current period. Contact us! We get more and more CRA reviews with regards to incorrectly assigned tax codes and ITCs. So it’s important to have an accountant who has knowledge and experience in assigning tax codes and processing and filing GST/HST.
A- Subcontractors usually assist with surplus work on a contract basis, and they are responsible for their own taxes and have variable schedule of work, among other things. Employees are normally on a fixed working schedule, supervised by an employer, who remits their taxes and supplies a T4 to them and the CRA.
The use of each varies based on your business needs and cyclical fluctuations or surplus work not included in your forecasted long-term growth.
We offer full payroll support, including the filing of T4s (for employees) and T5018s (for subcontractors) with a monthly bookkeeping subscription.
A PD4R is a Tax Deduction, Canada Pension Plan and Employment Insurance Discrepancy Notice. This was sent because amounts reported and filed on your employees T4 did not match what was filed at source, and this form needs to be filled out to show where the discrepancy is and why it exists.