A Canadian accounting firm you can trust to keep a keen eye on the numbers.
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At JTT Accounting, we understand that you are just too busy with life and/or developing your business – that’s why we individually customize and tailor all our accounting services to the pertinent needs of your business (and you); delivering unique accounting solutions that help propel your business operation forward.
We are a full-service accounting firm in Toronto, Ontario, Canada, that provides services to businesses and individuals. We offer a wide range of services from simple bookkeeping to comprehensive tax planning and auditing.
Our qualified accountants can help you establish a business, stay compliant with the CRA and provincial requirements for your company as well as provide perpetual year-end review processes.
We partner with companies of all sizes from start-ups to Fortune 500 corporations – large or small, we can provide accounting services tailored to your needs.
If you’re looking for an accounting firm with experience in providing the best possible service at competitive rates, look no further than our firm!
Quick and easy access to all of the accounting services you need to simplify and properly manage your financial and administrational workflow.
Do you want real growth for your business? Take the responsibility and hassle of managing your accounts with a professional Toronto accountant dedicated to your success!
With JTT Accounting on your team, you get to focus on what matters most – running your business while we take care of the books.
Whether you’re a business owner, corporate, sole proprietor, freelancer, or employee, we’ll help you control your finances and get your tax return ready for filing.
At JTT Accounting, you get a professional and personal tax accountant offering you world-class preparation of all tax documents and financial reports.
Our professional tax accounting services are available across Toronto, Canada (and the GTA). We’re ready to help you remove the responsibility of managing the financial side of your business and your tax filings.
We have everything you need under one roof, from bookkeeping to tax advisory services.
With JTT Accounting, you get a team dedicated to your business. We offer tailored packages for small business owners and corporates, providing you with a customized solution for your organization.
We offer you back-office support for your books and tax requirements. With options for tax advisory, payroll services, monthly reporting, and tax filing, we have everything you need to control the financial side of your business.
We use the latest innovations in technology to streamline your business accounting functions. From paying vendors to accurate bookkeeping and calculating your tax return – JTT Accounting will automate your bookkeeping and financial systems to help your business stay compliant with the tax code.
Let us handle the books while you focus on growing your business. We realize you have bigger priorities in your day-to-day operations, and we’re here to take that responsibility off your plate.
Contact our service team to discuss your needs for a Toronto accounting service.
When you choose to work with our accounting services in Toronto, Canada, you get a personal tax accountant service and a top-tier accountant for professionals like doctors and lawyers.
When you hire us to manage your books and tax, you’re benefitting from the following advantages of working with a top-rated accounting firm in Toronto.
Stop searching for an accountant in Toronto and reach out to JTT Accounting. We bring you a team of qualified and experienced chartered accountants committed to your business success.
We’ll save you money on your operations and tax liability, putting more money back in your bank account.
Contact JTT Accounting for all your accounting needs. From bookkeeping to personal and corporate tax filings, payroll, HST, and more.
If you want a professional team handling the financial aspects of your business, contact JTT Accounting for immediate service, we’re ready to take your call right now.
JTT Accounting is your preferred small business accountant. We understand that small business is the backbone of the economy.
We work with small business owners to ensure your personal and business finances are on point.
JTT Accounting works with hundreds of clients across Toronto and the GTA. We work with freelancers, business owners, corporates, and anyone that needs financial or tax advisory services.
We take numbers seriously, and we’re experts at providing strategies and services that keep your business or personal finances on track.
JTT Accounting provides a comprehensive service covering everything you need for your corporate, small business, or personal accounting and tax requirements.
We value our reputation as the leading accounting firm in the GTA, and we’ll ensure your business and finances get the attention they deserve.
Reach out to our friendly service consultants and book your consultation today. We offer you the following accounting and tax services.
If you’re a sole proprietor or freelancer, don’t rely on software tools for managing your accounting and tax liability. JTT Accounting is a professional team ready to handle everything for you.
Our holistic accounting services provide you with accurate books and favorable tax filings. With us, you get a tax accountant that you can trust to deliver optimal results for your bookkeeping, tax, and financial requirements.
When the spring rolls around and you’re ready to file your personal tax return, give JTT Accounting a call. We’ll help you compile and submit your tax return and T1 returns, providing direction on all the supporting documents you need for a successful filing.
We complete tax returns for hundreds of Canadians every year. We have the qualifications and experience to ensure you get more money back from your refund this year.
Finding the right tax accountant is challenging. Managing a tax return requires experience with handling the procedure. The Canadian government provides tax credits on personal tax returns based on your individual financial situation.
With JTT Accounting as your personal tax accountant in Toronto, you get peace of mind knowing that we apply all the relevant tax credits to your return, reducing your tax liability to the government.
Our leading accounting services give you a personal tax accountant who understands the federal and provincial tax code dynamics. Your tax accountant will ensure we file your return before the April 30th deadline.
We’ll handle tax returns for self-employed individuals, meeting the June 15th deadline. We ensure that you never have to pay penalties and fees for late filing.
JTT Accounting is a professional accounting firm with a team of experts ready to assist you with a range of advisory services for individuals, freelancers, sole proprietors, business owners, and corporates.
Our advisory services include business consulting, managing SR&ED claims, budgeting, forecasting, financial statements, and more.
Our business accountant service handles your tax audits and reviews. We’ll also professionally prepare your company’s financial statements.
With JTT Accounting acting as your tax accountant, you’ll never have to concern yourself with the nuances of preparing personal, business, professional, or corporate tax submissions. We take care of your payroll taxes, HST, and all planning and advisory involved with the process.
We’ll help you incorporate your small business to reduce your tax liability. Our team registers your business with the government and tax authorities, managing the process for you.
Let JTT Accounting handle your books. We’re a top-rated personal tax accountant service offering you professional and proficient bookkeeping to keep your finances healthy and in order.
With JTT Accounting acting as your Toronto accountant, you can focus on making money while we run the numbers for you.
Our accounting services are available for anyone in the GTA. Some of our clients include the following.
Salespeople working on commission-based contracts and freelancers or sole proprietors need a personal tax accountant.
Don’t procrastinate on your tax return or bookkeeping – reach out to the team at JTT Accounting, and we’ll take care of it for you.
Our corporate accounting services in Toronto, Canada, are the best in the industry. We comply with all tax code legislation, and we’ll keep your organization on the right financial track.
Regardless of the size of your company, JTT Accounting gives you a way to outsource your bookkeeping and tax responsibilities to professionals without the need to add to your internal finance team.
Choose JTT Accounting as your small business accountant, and we’ll handle the figures while you run your business. Take the hassle out of managing your company’s finances and hand it off to the professionals.
We specialize in accounting and tax advisory services for startups. Choose a professional accounting firm to get your business off the ground.
We’ll prepare your financial statements for investment into your company. If you’re spending on R&D, we’ll take care of your SR&ED filings to get more out of your refund.
If you’re a small firm or sole proprietor/freelancer, let JTT Accounting handle your books and tax responsibilities. We’ll structure your consultancy business to save on your taxes.
Do you own a doctor’s office or anti-aging clinic? We offer you an accountant for professionals, minimizing your tax liability.
We assist dentists with managing the books for their business and handling their tax returns. If you’re buying a practice, we can help you prepare your financials for investment.
If you’re an OCA grad, hire JTT Accounting to take care of your practice’s bookkeeping and tax obligations.
If you’re looking for an accountant in Toronto, then reach out to the team at JTT Accounting. We offer a holistic range of accounting and tax advisory services for businesses, corporates, professionals, independents, and more. Whatever your accounting needs, we’ll ensure you stay compliant.
JTT Accounting works with corporates across the GTA. We’re a professional firm providing any tax-related or accounting services. We can act as your tax accountant or bookkeeper, working remotely, away from your site.
With JTT Accounting, you get an outsourced partner for your accounting requirements. The Canada Revenue Agency states all corporations, apart from resident charities and crown corporations must file a corporate income tax return using form T2, even if there is no tax payable for that year.
As your nominated corporate tax accountant in Toronto, JTT Accounting ensures we file your T2 return no later than 6-months after closing the tax year. If your organization owes any corporate tax, you’ll need to make your payment later than 90-days after the closing window for the tax year.
For example, if the organization’s fiscal year occurs on December 31, you’ll need to file your T2 return by June 30. However, the corporation must pay any taxes it owes by March 31.
Failing to meet the payment deadline means that the CRA tax authorities can charge penalties and interest on outstanding amounts.
We specialize in creating accounting financial statements, otherwise known as tax financial statements or the General Index of Financial Information (GIFI). We use the GIFI statement when filing your company’s tax return.
All corporates registered in Toronto must prepare financial statements using the GIFI codes, filing them with the T2 return.
After preparing the tax return, there are seven tax offices spread across the country in all provides to file the paperwork, and you’ll file with the Ontario office.
With JTT Accounting acting as your Toronto accountant, you get a tailored corporate tax return service catering to your organization’s unique business model and needs. Some of our tax accountant services include the following.
Hire JTT Accounting for your accounting firm in Toronto. We can assist with preparing your financial statements to GIFI standards, and we’ll assist with filing zero returns for inactive and dormant corporate entities.
Our expert tax planning ensures your organization qualifies for the Small Business Deduction Limit, and we’ll carry your losses forward or backward to ensure we reduce your tax liability.
Our professional team of experienced, educated, and talented tax consultants ensure your company files its return on time and with your organization’s best interests in mind.
JTT Accounting services in Toronto, Canada, offer you a personal tax accountant and bookkeeping service for your business.
We’ll run the books while you run your business. We’ll set up your company’s financial processes, giving your bookkeeping the framework it needs for effective tracking of company finances.
We’ll set up your financial systems so that they are easy to understand and maintain. After hiring JTT Accounting, you’ll never go back to your old software and systems.
Our services help businesses avoid cash flow issues, missed opportunities, and wasted resources. We’ll help you manage your company’s financial affairs, letting you avoid the hassle of preparing your tax return and financial statements.
Our expert accountants and tax specialists uncover problems with how your company allocates financing for operations, and we’ll open new financial opportunities for your business.
JTT Accounting offers your company professional bookkeeping and accounting services. We work with small and mid-sized companies and non-profits. Contact us for any of the following bookkeeping and tax services.
Our team of bookkeeping experts provides your business with the services you need to thrive in a competitive and heavily regulated economy. We can help you set up financial systems for a new business or restructure your financial systems to clean up your bookkeeping.
We set up functional and comprehensive reporting systems to help you better understand business operations and financial management. We’ll create budgets and map financial projections allowing you to incorporate that data into your strategic planning.
JTT Accounting also assists with payroll setup and GST/HST calculations, integrating them into your existing financial systems. Our goal is to streamline your financial systems with accurate checks and balances, ensuring your company adheres to best practices and compliance set by the CRA.
Contact our service team right now to find out how we can take your financial systems and company financial planning to the next level.
With JTT Accounting, you’re getting the premier accounting service in Toronto. We pride ourselves on our client retention, and we have a long track record of success. To us, your business is more than a registration number.
We understand the effort and stress required to get a company off the ground and make it profitable. With JTT Accounting handling your tax and bookkeeping, your organization has a financial framework designed for success.
JTT Accounting services offers you a comprehensive bookkeeping and accounting service in Toronto. When you outsource your accounting to us, you get a team dedicated to the success of your business.
Business owners have a lot on their plate. The more you can outsource your business responsibilities to partners, the more time you have in your day to focus on the critical aspects of running your business.
We don’t just prepare your reports. Our bookkeepers, accountants, and tax specialists will prepare your financial statements and reporting – and we’ll sit down with you to explain what it means for your business.
We can assist you with setting profit margins that bring more money into your business. We identify areas of your finances where you overspend, allowing you to cut back on these expenses.
Many small business owners and sole proprietors use software like QuickBooks to manage their company accounts. While QuickBooks work, they can only take you so far.
With JTT Accounting, you get a team of experts working on your bookkeeping. We use proprietary systems to analyze and track your company finances. Our experience is that we can help businesses get more out of their tax return.
JTT Accounting services help your company stay ahead of filing season and the tax curve. With us acting as your accounting partner in Toronto, you’ll find that we help keep your business running efficiently.
We’ll help you save on your operating costs by identifying incorrect charges, recurring fees, double billing, and high banking fees.
Are you starting a new company? Maybe you’re thinking about formalizing the status of your business?
JTT Accounting can assist you with the process of forming a legal entity for your company. Formalizing your company structure into a legal entity helps business owners avoid liability if the business ends up folding.
Federal and provincial laws govern the laws and regulations regarding the incorporation of businesses. So, it would help if you had a partner that can navigate the complexities of rules and incorporation law, ensuring your register your business as the correct entity.
There are several steps to incorporating your business. We’ll simplify the process and walk you through the process, providing guidance to the successful registration of your company.
Incorporating your company comes with several advantages. It’s common for entrepreneurs to start their company using their identification information. However, as the company begins to grow and take on employees, the liability risk to the owner rises.
If the business ends up in financial trouble or an employee gets injured on the job, they can hold you accountable for paying your creditors or settling hospital bills. There are countless cases where these issues drive new business owners into bankruptcy.
Incorporating your business places a layer of protection between your personal assets and the business assets. So, if anything goes wrong, your creditors or employees won’t be able to sue you to recover the outstanding monies owed.
Incorporating your business also moves you from personal to corporate tax rates, boosting your profit margins. You can use the extra money you save on your tax return to keep your business growing.
Corporations often allow for income-splitting for family members. As a result, you get further tax savings over those individuals operating their business as a sole-proprietorship. This strategy further reduces your household tax burden.
If you’re a professional like a doctor, lawyer, or chiropractor, hire JTT Accounting to handle your books. We can also assist with the registration and incorporation of your business. We’ll establish a “professional corporation,” a specialized entity designed specifically for your work.
Professional corporations restrict their business to specific service offerings outlined by the industry’s governing body. Establishing your practice or family office as a professional corporation has many advantages.
However, the setup and compliance required when formalizing the entity are complex. JTT Accounting understands the process involved in forming professional corporations, and we’ll take the stress and hassle of doing it yourself off your hands.
Let JTT Accounting put your professional business on track for success.
With JTT as your Toronto accountant, you get a team of experts that understand every aspect of incorporating companies, managing books, and calculating tax liability.
Does your business have an R&D department? With a professional accounting firm handling your affairs, you can claim back your expenses using the SR&ED system.
The Scientific Research and Experimental Development Program (SR&ED) is a federally managed entity responsible for releasing $6-billion in payments every year. The SR&ED incentive program from the Canadian government provides companies with the funds they need to keep innovating and fund R&D.
With the SR&ED, entrepreneurs and businesses receive a cash refund for qualifying tech and science-related R&D work conducted in the last 18-months.
Companies may recover up to 70% of R&D costs through the SR&ED program. Your organization receives non-refundable and refundable tax credits, lowering R&D costs. As a result, companies have the support they need to keep innovating and remain competitive.
To receive the SR&ED benefit, companies must submit their application when filing tax returns. There are over 29,000 Canadian companies currently benefiting from the SR&ED program.
JTT Accounting understands the complexities and requirements of completing and filing SR&ED claims. We provide an end-to-end accounting service covering every aspect of handling your tax return and your books.
Those companies that incorrectly complete their SR&ED requests won’t qualify for recovering R&D costs. Lack of proper or sufficient supporting documentation and incorrect schedules are the two primary culprits for the rejection of your SR&ED request.
JTT Accounting offers you a team of specialists that understand every step of filing for your SR&ED claim. We’ll collect the correct supporting documents and complete your request correctly, ensuring you recover your R&D spending.
JTT Accounting helps corporates optimize ROI for their R&D projects. Some examples of qualifying projects for SR&ED reimbursement include the following.
If your organization utilizes any of the above R&D projects, you’ll qualify for the SR&ED program. Hire JTT Accounting, and we’ll ensure you recover as much of your R&D costs as possible.
Reach out to our office and schedule a free assessment of your R&D projects to see if you qualify. We’ll walk you through everything you need to know about the SR&ED program, and we’ll tell you if there’s a chance you are eligible for R&D reimbursements.
You get a tax accountant who understands legislation and regulations surrounding SR&ED reimbursements with JTT Accounting.
We’ll file your claim and navigate the process on your behalf, ensuring you get a fair shot at recovering your R&D funds from the Federal government.
With JTT Accounting as your preferred Toronto accountant partner, you get an expert team of estate planners ready to handle the nuances of your estate and finances. We can assist with the transfer of assets to your heirs.
Our team creates a plan dedicated to ensuring you pay as little estate duty as possible. We’ll help you reduce estate tax, administrative fees, and expenses involved with distributing your assets and your estate.
Our professional estate planning services in Toronto include experts estate planners with the advice you need to navigate the situation. We also assist with retirement planning and drafting of wills.
We understand that dividing up an estate usually occurs at a time of extreme stress for families. It’s our goal to make the process as painless as possible for you. We understand that you need time to mourn, and we’ll take care of everything for you and your family.
Our comprehensive and professional estate planning services in Toronto guide your family through the process of settling the estate, protecting your family while ensuring the safe transfer of your wealth.
Our goals with the estate planning process are the following.
Our Toronto estate planning services review potential tax consequences involving your estate. The Canadian tax rules use the term “deemed disposition,” assuming that all assets in the estate are liquidated upon your death, making the estate liable for tax.
The experts at JTT Accounting will review your estate’s unique position and anticipate potential tax liability while creating a plan to minimize estate taxes.
JJT Accounting services in Toronto are a professional accounting firm specializing in all estate planning aspects. Our advisory services can help your family through the challenging times after your passing.
Estate planning is a critical part of ensuring your wealth transfers through the generations. Planning your estate is a complex task requiring the assistance of a professional, especially if you have a significant amount of assets in your estate.
Our estate planning services helped thousands of families through the estate planning and distribution process. We offer you step-by-step guidance through the process of establishing effective estate planning, giving you confidence that your family is in good hands with us.
Our expert estate accountants assist with transferring your assets to your heirs. We work with you to ensure you have the retirement and estate planning you need to take care of your family after you pass.
Do you own a business in Toronto or the GTA? Reach out to the team at JTT Accounting for consulting services that help your company grow. We’re a small business accountant promising big things for your company.
While we specialize in business accounting services, we also offer advisory and consulting services. If you can’t figure out why your business is failing or want to optimize your revenues and logistics – contact JTT Accounting.
We offer consulting services for the following organizations.
Running a business is challenging. As an entrepreneur, it’s up to you to give the company direction, and that’s challenging to do if you have no prior experience in managing companies.
Fortunately, JTT Accounting offers you a range of business consulting services to help you point your business in the right direction.
Our team of expert advisors can help you identify problems and bottlenecks in your company, and we can streamline your processes while eliminating any redundancies. We focus on providing strategy to grow any size business.
We’ll help you reach your revenue and cost targets and analyze budgeted versus actual results, showing you how to improve your ROI with your existing asset structure. We can also assist with forecasting and budgeting, analyzing historical financial data while comparing real results with the industry average.
JTT Accounting offers Toronto firms financial and information technology business consulting services Toronto. We’ll ensure that your company data remains secure on your servers, with no chance of data leaks, network hijacking, or data theft.
We’ll ensure your organization utilizes proper accounting and information systems. We’ll help you set up your business in the cloud, making it accessible to employees worldwide.
JTT Accounting understands your need for secure financial and IT systems. When you work with us, we’ll keep your data safe.
JTT Accounting is a professional accounting firm offering you more than just bookkeeping and general accounting work. Our management consulting services work with existing clients to expand their knowledge base with management consulting services.
Our management consulting services focus on building skills in accounting and finance departments, improving vendor selection criteria, and accounting and tax requirements for setting up international offices in other countries.
We’ll help you keep your payroll deductions on time and efficiently. Payroll is a big deal for companies, and without it, you won’t have any employees.
JTT Accounting reviews your payroll system, ensuring you comply with your employees’ EI, CPP, and income tax deductions.
If your organization doesn’t remit its deductions or report incorrect amounts, it exposes your company to interest and penalties from the CRA.
JTT Accounting is the preferred partner for consultants and service providers who decide to take an independent approach to business. We act as your business accountant and as a mentor to help you navigate the pitfalls of the market.
Going independent with your consulting business helps you save on your tax liability to the government. As an independent consultant, you have the chance to write off many of your expenses, dramatically reducing your tax burden each year.
While independents qualify for massive deductions, they have to remain compliant with their reporting and write-offs and how to report to the CRA.
JTT Accounting assists hundreds of independents with minimizing their tax burden, putting more money back in your bank account. We know the red flags the CRA looks for when assessing claims, and we’re confident we can keep you from undergoing an audit.
As your small business accountant, we’ll help you manage your books. Our advisory services assist entrepreneurs with optimizing their expenses and revenues, pointing our areas in your company strategy in need of improvement.
We can help you turn your business profitable by outlining the challenges you face and a strategy to overcome the issue. We’ll assist you with optimizing your operations and help you make better decisions for your company.
JTT Accounting will analyze your cost inputs and optimize inventory rotation. With us, you get to take control of your bottom line. You get professional accounting practices designed to increase your revenue and manage expenses.
We’ll ensure your clients don’t forfeit their potential tax savings when filing season comes around. We’ll help you reconcile invoices and deposits to make your collections easy.
Small business tax returns are challenging to navigate if you don’t have experience working with them. We’ll file your return on time and ensure that you don’t have to pay any penalties or interest on your tax liability.
We’ll help your business understand the tax credits and deductions available to you. With JTT Accounting, you get a small business accountant with technical competency and expertise to help your business capitalize on tax credits and deductions.
Founding a startup is a lot of work, but it’s satisfying when everything comes together in a profitable business.
Getting out of the starting block with your company is challenging, and you need a business accountant you can trust to manage your books and your tax returns.
JTT Accounting offers entrepreneurs a service dedicated to startup success.
We’re a professional accounting firm ready to assist startups with their accounting duties. As an entrepreneur, you don’t have the time to learn correct accounting procedures and manage your books.
Startups have so many working parts, and they typically operate on skeleton staff and limited budgets until they prove the concept and find investment.
JTT Accounting will keep your books up to date and advise you on your spending. We’ll keep you in a profitable position, preparing your financial statements for prospective investors.
We’ve worked with dozens of high-growth startup companies, helping them secure the funding they need through tax credits from the government.
Startups need direction and leadership. JTT Accounting offers startups an advisory service covering every aspect of your business.
From incorporation to finding investment, preparing your books and financial statements, and assisting with SR&ED Claims – we do it all.
You can rely on the team at JTT Accounting for all your forecasting, budgeting, and consulting requirements; we’re ready to help you achieve the success you deserve.
Our professional accounting services in Toronto assist startups with handling their accounts. We’ll help you prepare your books and financial statements, calculate and submit your tax return, and prepare for audits.
JTT Accounting handles all tax-related activities for your startup. We give you peace of mind. We’ll manage your tax returns, payroll taxes, HST, tax planning, and advisory.
We’ll help you incorporate your business into a legal entity to reduce your tax bill. Startups begin the business cycle as an informal entity, exposing the founders to legal and financial liabilities that could sink the business. We’ll help you remove that risk.
If you’re a self-employed individual or real estate agent, contact JTT Accounting for assistance with managing your accounts and tax responsibilities. It would help if you had a professional accounting firm handling the financial side of your business while you focus on turning a profit.
As a self-employed individual or real estate agent, you are eligible for business tax deductions. However, the reporting requirements for these deductions are extensive, and it’s easy to find yourself lost under a mountain of paperwork when processing your tax return.
JTT Accounting assists hundreds of real estate agents and self-employed individuals with handling their books and taxes. Sole proprietors and their businesses are the same entity in the eyes of the CRA. As a result, you have additional freedoms and responsibilities.
We’ll help you calculate your quarterly income tax installments and the setup and contribution to the Canada Pension Plan. We’ll also assist you with preparing your financial statements on Form T2125, Statement of Business Activities.
JTT Accounting offers you a comprehensive bookkeeping service and a personal tax accountant in Toronto.
We understand the tax code and how it applies to your business. There are several advantages to being a self-employed individual when filing your taxes.
As a self-employed individual, freelancer, or business owner, the chances are that you work from home. The CRA allows for deductions on your home office space and the equipment, stationery, electronics, and subscriptions you purchase during the year.
By hiring a business accountant, you get to optimize these expenses, dramatically reducing your overall tax liability. Qualifying expenses include your mortgage interest, home insurance, property taxes, utilities, home maintenance, and landscaping, plus many more.
With the right business tax accountant working for you, you could potentially reduce your tax obligation to zero. If home office costs are more than your income, we’ll help you carry forward these amounts into your next tax return.
Self-employed individuals can deduct any reasonable costs incurred to earn income from your business for your self-employed personal tax return in Toronto. There is a long list of deductible expenses you can claim with your tax return.
Meals and entertainment, promotions and advertising, and business subscriptions qualify for a 50% deduction on the total expense. Some of the other deductions you can claim include the following.
Contact our offices and arrange a consultation. We’ll walk you through the complete list of deductible items for your next tax return.
Bill 145 allows real estate professionals in Canada to incorporate their business. As a result, you benefit from the reduced income tax rate for corporations.
If your business is out of the startup phase, it’s time to consider incorporating to reduce your tax exposure.
Small business corporations get a low tax rate on the first $500,000 of income. Therefore, you can reduce your personal tax liability, provided you have the right accounting and tax partner to assist you with filing your claim.
If you’re a professional operating in Toronto or the GTA, contact JTT Accounting for assistance with managing your books and filing your tax returns. We offer a comprehensive service for professionals, helping you take your business to the next level of success.
We work with the following professionals around Toronto and the GTA.
Contact the team at JTT Accounting for more information on how we can help you save on your tax obligation.
Do you own a law office or practice? JJT Accounting brings you a range of services from a leading professional accounting firm. We specialize in assisting law offices in the GTA with all their accounting and tax-related requirements.
We can manage your books and prepare financial statements to various levels of assurance in accordance with your requirements. We’ll ensure that your accounts meet the compliance criteria set by The Law Society of Upper Canada.
If you have no experience in trust accounting, it can leave your head spinning in confusion. Our team features a lineup of accountants specializing in handling our law clients. Using the latest software innovations to manage your books, we’ll get your company on track.
If you’re a sole proprietor looking to file your personal income tax return, a partner, or run a professional corporation, contact JTT Accounting. We can assist with all your bookkeeping and taxation requirements.
We work with dozens of lawyers and legal practices across the GTA. They trust us because we understand the tax rules applicable to the legal industry in Canada. We’ll reduce your tax responsibility as much as possible.
We work closely with you to develop a tax-efficient framework and compensation plan. We can also assist you in turning your business into a professional corporation to reduce your tax bill further.
Lawyers can also benefit from JTT Accountings tax advisory services, tax planning, estate planning, and financial guidance when buying or selling a practice.
JTT Accounting offers lawyers and law offices a comprehensive advisory service covering every aspect of your business. We can walk you through the specifics of buying or selling a practice, and we have the team you need to evaluate your business correctly for sale or purchase.
Give your legal practice the edge it needs over the competition. With JTT Accountants managing your books and tax, you have more billing hours available for clients. Our accounting and advisory services are world-class, and we have a team of professionally-trained accountants and advisors.
Do you need a Toronto accountant for your medical practice? JTT Accounting specializes in accounting and tax services for doctors and professional corporations. Doctors are busy people, and there’s no way you have the time and energy to manage your patients and your books.
Our accounting services for doctors in Toronto include providing Reviewed Financial Statements, Notice to Reader of Financial Statements, and Audited Financial Statements. We can work with your existing bookkeeping software to ensure your finances are in order and compliant with the tax code.
Whether you’re a sole proprietor, a member of a partnership, or own a professional corporation, you can rely on JTT Accounting for all your bookkeeping and tax requirements.
We’re tax specialists dedicated to your business. We work with dozens of doctors and medical practices across the GTA, providing them with customized, efficient, and effective bookkeeping and tax services.
We understand the tax code and how it applies to doctors and the healthcare industry in Canada. We’ll crush your tax responsibility, saving your practice thousands of dollars on your tax bill. We work with you to create tax-efficient compensation plans.
If you’re looking to reduce your liability, speak to our consulting team. We’ll arrange to formalize your business using a professional corporation that substantially reduces your tax obligation. Our in-house team of professional accountants and tax specialists is ready to turn your business around and take the responsibility of managing your accounts off your plate.
JTT Accounting also offers doctors a range of advisory services, including tax and estate planning and the guidance you need for selling or buying a practice. Our team can evaluate any business you’re interested in acquiring, or we can assist you with closing the sale of your practice at market-related valuations.
If you need accountants or tax professionals that specialize in servicing doctors, contact our offices and arrange a consultation with our team. We can’t wait to show you what’s possible with our services backing up your business.
We’ll help you increase your profits by reducing your tax liability during filing season. We’re a top accounting firm in Toronto and the leading accountant for professionals. We’ll help you navigate the complexities of the tax code while maximizing your take-home pay and growing your practice.
Unfortunately, they don’t teach you how to run a business at medical school. When you hire JTT Accounting to handle your financial affairs, you’re working with a world-class team. We have the experience and consultants you need to manage your accounts and file your taxes efficiently.
We’re not like other outsourced accounting partners that only show up around filing season. JTT Accounting involves ourselves in every aspect of the finances of your practice. We’ll close your books at month-end, ensure your payroll goes off without a hitch, and keep your cash flow positive.
We also offer advisory services for doctors involving financial planning for your retirement goals. Whether you need advice on buying a new home, saving for your kid’s college tuition, or expanding your business, JTT Accounting is ready to advise you on the best path forward.
JTT Accounting offers you a team of professional accountants and tax specialists dedicated to the success of your medical practice. Our expert accountants have the training and experience to manage your business’s finances.
Do you run a dentist’s office? JTT Accounting is the preferred accountant for professionals in the GTA. We understand that you need to outsource or delegate certain parts of your business. The reality is that you can’t do everything yourself unless you want to work 20-hours a day.
With JTT Accounting as your bookkeeping and tax partner, you get a team dedicated to your success. We can take care of all your financial responsibilities, bookkeeping, and tax queries. Our services include preparing financial statements and the valuation of your business for sale.
We specialize in preparing notice to reader financial statements, reviewed, and audited financial statements. With JTT Accounting running your books, you get a team that positions your practice for success.
JTT Accounting specializes in providing accounting and tax-related services for professionals. We can assist you with incorporating your practice into a “professional corporation,” dramatically reducing your tax bill while putting more money back in your bank account.
We have specialists that work with any accounting software. We can build your financial systems from the ground up or integrate our systems into your existing financial framework. With JTT Accounting managing the financial side of your business, you have more time to consult with clients, boosting your earnings.
When you hire JTT Accounting, you’re working with a professional accounting firm. We value our reputation as the go-to accounting service for dentists in Toronto. It’s our goal to enhance the profitability of your business while ensuring you’re compliant with the tax code.
If you’re a sole prop working out of a home-based practice, or a partner in a dental office, contact JTT Accounting. We’ll help you with handling your financial affairs. We work with dozens of dental offices across the GTA, providing services that take your business to the next level of success.
As a professional, you understand that time is money. The more duties you can delegate or outsource, the more time you have available for client consultations. We know the tax code and its application to healthcare providers in Canada.
We’ll work with you to crush your tax bill and put more money back into your practice. We also offer you incorporation services, allowing you to turn your business into a professional corporation to reduce tax obligations and liability.
We also offer dentists professional advisory services, tax, and estate planning. Reach out to our offices and speak with our team; we’ll arrange a consultation to show you what we can do for your dental practice.
If you run a chiropractic office, choose JTT Accounting as your partner in business success. We offer dentists a comprehensive accounting and tax service anywhere in the GTA. If you’re looking for the best accounting firm in Toronto, you can rely on us for your bookkeeping and tax obligations.
JTT Accounting works with the OCA Advantages Program, recommended by the Ontario Chiropractic Industry. We can help you increase your profits while paying less tax. As a result, you keep more money in your business, allowing you to grow.
As the preferred accountant for Chiropractors in Toronto, JTT Accounting handles everything to do with the financial side of your business. We can manage your cash flow and operations costs, tighten your budget, and prepare your financial statements.
JTT Accounting works with dozens of chiropractors and chiropractic offices across Canada. We’ll help you build your financial systems from scratch, or we’ll integrate our systems into your existing software framework.
Our team of dedicated and talented bookkeepers can keep your finances on track. We’ll assess your spending and income and advise you on where to make improvements in your business. As a chiropractor, you understand that your time is your most valuable asset.
Why waste it on tasks that you can delegate or outsource to others? JTT Accounting gives you the chance to free your schedule from the less-productive aspects of your business, entrusting it to professionals.
We understand every aspect of the healthcare tax code in Canada, and we’ll file your return on time. Our team works to optimize your tax bill, reducing it to a fraction of what you would pay without utilizing our professional services.
If you’re running your dentistry as a sole proprietor, or you have yet to incorporate your practice, speak to JTT Accounting. We offer you an incorporation service for your business. We can register you as a professional corporation, allowing you to take advantage of tax credits and deductions to reduce your tax bill.
If you run the business yourself or have a partner, JTT Accounting can file your annual returns and negotiate outstanding issues with the Canada Revenue Agency (CRA). We understand the nuances of the Canadian healthcare code and how it applies to the financial side of your business.
You can rely on us to manage your cash flow, collect your outstanding accounts, manage your books, and prepare your financial statements before filing your tax return for the year. We ensure we file on time, and you’ll never have to pay penalties or interest.
Our team of experts can also assist you with a valuation for your business. We’ll prepare everything you need to sell your practice. We also offer services that unpack the finances of businesses you’re thinking about purchasing.
JTT Accounting offers chiropractors a range of advisory services. We can assist with managing your tax and estate planning, and we’ll show you how to implement income splitting to optimize your tax return. We’re the tax specialist the Ontario Chiropractic Industry recognizes, and we’ll ensure you’re paying the lowest tax rate possible.
We can also assist you with planning your operating budget, helping you manage your cash flow throughout the month. We also offer advisory services that negotiate on your behalf when purchasing a practice or selling your business.
Members of the Ontario Chiropractic Association get preferred pricing rates for accountants and tax specialists for chiropractors in Toronto. Call us and quote your OCA membership number to receive your benefits.
Reach out to JTT Accounting right now to book a consultation with our chiropractor accounting firm in Toronto. Our team of trained and experienced professionals comprises top-level graduates from some of the most prestigious universities in the world.
We put our knowledge and experience to work for you, allowing you the leverage our range of professional accounting and tax services for your business. Contact our offices and speak with our team. We’ll unpack how our services can give your business a financial edge.
You have plenty of choices when selecting your accounting partner. However, if you want to give your business an edge when tax season rolls around, or you want a perfect set of books, contact JTT Accounting.
Why choose us from the competition? Here’s what separates JTT Accounting from the rest of the firms in the industry.
We believe that our business is only as strong as the people we have on our team, and it’s the same for your business. If you have an accountant you can’t trust, or they are incompetent, it could end up sinking your business.
Receiving a request for an audit from the CRA is enough to send chills down your spine, even when you’re confident you’re compliant. However, if there’s a chance your books are not up to code, you could face huge penalties and fines, and even possible jail time for fraud.
With JTT Accounting, you get a team of professionals with decades of experience handling our clients’ accounts and tax-related queries.
As a business owner or professional, you understand the value of your time. Why waste it on activities like bookkeeping and tax returns when you can have a professional service do it for you? Free up your time and use it to grow your business while we handle the books and taxes.
JTT Accounting is the top-rated accounting service in Toronto. We specialize in a range of services for your business, beyond accounting and tax. We’ll advise you on all financial responsibilities for your business.
From valuations to assessing business that you want to buy, JTT Accounting does it all. You can rely on our team for advice that takes your business to the next level of success.
JTT Accounting can save your business from employee or client liability. Let us incorporate your business and save you money on your tax rate. After incorporation, you’ll receive a favorable tax rate that’s far less than what you pay as an individual.
Most business owners and professionals have no idea what they’re doing when it comes to managing their business finances and taxes. This decision is a mistake. Sure, you can handle many of your accounting responsibilities with software like QuickBooks.
However, when it comes time to submit your return, are you doing everything you can to crush your tax obligation? Chances are you’re leaving deductibles and credits on the table, costing you money.
With JTT Accounting managing your books and your taxes, you get the optimal deduction on your tax return, keeping more money in your business.
At the end of the day, our services end up paying for themselves. Reach out to our offices and book a consultation with our team today!
JTT Accounting is ready to assist you with any accounting or tax-related query for individuals, companies, and professionals. We bring you the premier accounting services in Toronto, Canada, with a comprehensive range of services from bookkeeping to an advisory.
Whether you need a personal or business accountant, reach out to JTT accounting, and we’ll discuss a custom solution to keep you moving forward.
Check through this list of frequently asked questions to see if we can answer your question. If you don’t find the advice you’re looking for, reach out to our service team, and we’ll arrange a consultation.
Q: Why do I need a professional accounting service?
A: Are you an accountant? Then how can you expect to complete your tax return with the efficacy and efficiency of a trained accounting and tax professional? If you’re not a mechanic, would you try to fix your car if it broke down? No, you would call a professional mechanic.
It’s the same with your taxes. Using a trained, an experienced tax professional can optimize your return, helping you reduce your tax liability to the government. Whether you’re a business owner, independent contractor, employee, or sole prop, an accounting and tax firm can help you get more out of your filing.
Q: Is it necessary to file a tax return as a Canadian citizen or resident?
A: Yes, if you’re over 18 and earning an income, you must file a tax return. If you receive a request for a tax return, apply for the Working Income Tax Benefit (WITB), make contributions to the Canada Pension Plan (CPP), or need to repay social benefits, you’ll need to file a return.
You’ll also have to file a return if you don’t repay amounts withdrawn from Registered Retirement Savings Plans using the Lifelong Learning or Home Buyers’ Plans.
If these requirements don’t apply to you, you’ll file your return, claiming a refund, recording credits for the year, to receive Canada Child Tax Benefit, or GST/HST credits. Reach out to a personal tax accountant for assistance with filing.
Q: What is the deadline for my tax return?
A: The deadline for your tax return is on April 30th each year. You’ll file for the previous year’s income and deductions/credits. Self-employed individuals must file their return by June 15th.
We recommend you have your taxes ready for filing long before this date. If you file late, you may have to pay penalty interest on the amount owed.
Q: Can I file for taxes in previous years where I was a Canadian resident or citizen?
A: Yes. A personal tax accountant can assist you with filing your taxes for previous years. Make sure you have copies of all prior information like documents and slips.
Q: What are the requirements for filing my tax return?
A: If you’re a married couple with two kids and a full-time job, you’ll need the following supporting documents when filing your tax return.
Consult with a personal tax accountant to get the help you need to file an optimal return.
Q: How do I calculate my tax payable?
A: It’s reasonably simple. Calculate the total income received during the year and deduct your RRSP, childcare and alimony expenses, moving expenses, etc. Here’s the calculation.
Taxable Income x Federal tax rate = Net Federal Tax
Deduct tax credits like medical expenses, tuition credits, and donations, and you have the amount you owe in taxes for the year.
Q: Do I need to report income earned internationally?
A: Yes, all Canadian residents earning income in other countries need to report it on their tax returns.
Q: What’s the difference between credits and deductions?
A: Credits are eligible for use after determining the amount owed in taxes. They offset tax liabilities, reducing the amount you have to pay the government in taxes. A deduction reduces your annual income, potentially placing you in a tax bracket with a lower rate. A personal tax accountant can assist you with your return to optimize deductions and credits.
Q: What expenses qualify for the Home Renovation Tax Credit?
A: Some of the expenses qualifying for the Home Renovation Tax Credit include equipment rental, building material, any fixtures, permits, labor costs, and fees for professional services and consultation. However, financing costs do not qualify.
Q: What are the benefits of a Tax-Free Savings Account (TFSA), and how does it work?
A: The Tax-Free Savings Account (TFSA) lets Canadians earn tax-free income from their investments. All Canadian residents 18 or over may contribute a maximum of $5,000 to their TFSA each year. Withdrawal amounts are tax-free, but these contributions do not qualify for a deduction.
Q: Who qualifies for tax credits for their child care costs?
A: Parents supporting children can claim childcare expenses on their tax returns. If both parents earn an income, the parent with the lower annual income will file the claim.
To qualify, the parent(s) must incur the expenses while in gainful employment, conducting research activities, attending school, or actively seeking job opportunities. Parents with medical impairments or those imprisoned may also qualify for the Child Care Tax Credit.
Q: What is the Canadian Child Tax Benefit?
A: Parents of children under 18-years old are eligible for the Child Tax Benefit. This monthly tax-free payment assists parents with the costs of raising their kids. The size of the benefit depends on the family income, the number of children in the household, and the kid’s ages.
Q: Can I deduct RRSP contributions from my tax return?
A: Yes, you can claim official contribution receipts as a deduction on line 208 of your personal tax return up to the RRSP deduction limit.
Q: Can I file for GST/HST credits?
A: To be eligible for the program, you’ll need to be a Canadian resident over 19-years old. You’ll apply for the GST/HST credits when filing your taxes. The GST/HST credits are tax-free quarterly payments that assist low and modest-income families in offsetting part or all of the GST/HST they pay.
Q: What is the CPP Deduction amounts for 2022?
A: Maximum contributions to CPP by employers and employees will be $3,499.80, up from $3,166.45 in 2021.
Q: What is Canada’s payroll tax rate?
A: the total payroll tax rate comprises of the Social Security Tax (6.2% on the first $142,800, as of 2021), the Medicare tax at 1.45% (2021 guidelines), and an additional Medicare tax of 0.9% of earnings over $200,000 for single filings, and $250,000 for joint filings. The total payroll tax rate in 2021 was 7.65%.
Q: Do payroll taxes apply in Canada?
A: Canadian employers must withhold income tax and deduct fees for Canada Pension Plan (CPP) contributions and Employment Insurance (EI) premiums. You’ll also have to submit any provincial employer tax.
Q: If I’m a sole-proprietor with no staff, do I need to file a tax return?
A: Yes, you’ll need to file a return. We recommend consulting with a business accountant like JTT Accounting. You’ll use the same income tax return, the T1 form, to file returns for small businesses. Corporations will need to file the T2 corporate income tax return.
Q: What are the reporting and accounting requirements for small businesses?
A: You’ll have to file corporate returns annually. GST/QST remissions are necessary if the company registers for GST/QST. You must report the source deduction and pay if the company has employees.
Q: Can I get a refund for tuition credits?
A: Tuition credits are non-refundable, and you won’t get any refund. However, they lower your total tax liability. You can file a claim for an education tax credit for all tuition fees over $100. You can claim credits for each month enrolled part-time or full-time (conditions apply).
You must take classes with approved post-secondary institutions. Students paying international tuition fees totaling $100,000 are eligible for tuition credits that carry over to future filings.
Q: Do students need to declare money given to me by my folks on my tax return?
A: No, you don’t need to declare funds given to you from family members.
Q: Must I declare any bursaries or scholarships on my tax return?
A: Yes. Scholarships and bursaries are forms of income requiring you to declare them on your tax return. They are not taxable items, but you need to report them nonetheless.
Q: What supporting documents do I need when filing my tax return?
A: You’ll need to have your Social Insurance Number or Individual Tax Number. You’ll also need the following documentation for filing your return.
Receipts
Forms
Other
Q: Do I need to file a tax return if I’m an international student?
A: Yes, as an international student earning income through scholarships, bursaries, or employment must file a tax return every year to stay compliant with financial law and regulations.
If you’re not earning an income, there is no reason to file a return. However, you might want to file if you have credits or refunds, such as GST/QST credits or real estate credits.
Q: Do I need an accountant near me?
A: You do not necessarily need an accountant minutes away from you, so, you do not need to type in “accountant near me” or any similar variation into Google. With technology, you now have access to the best accountants at your fingertips. As long as your accountant or accounting services provider is knowledgeable about your province, he/she or the firm will be able to service you.
Hello there, remember that we can be your go-to Toronto accounting firm and handle any of your pressing accounting and compliance issues. Give us a call today.
What are you still waiting for – speak to a JTT Accounting associate today.
