Personal Tax

Personal income tax preparation may seem straight-forward using commercial Off-The-Shelf Tax Software; however, as per Tax Experts most Canadians often miss one or more Tax deductions.  Some important ones that are often missed include:

  • Medical Expenses
  • Childcare Expenses
  • Moving Expenses

Like any expenses, there are stipulations as to when and how much tax break one can claim, and for this very reason having a tax expert on your side helps maximizing your return.

GTP Tax Services specialize in all personal tax returns. Our clients include:

  • Students
  • Single People
  • Single Moms
  • Married Couples
  • Couples with children
  • Commission Income taxpayers
  • Employed Professionals
  • Investors with multiple sources of income
  • Seniors with Canadian or Foreign pensions
  • Clergies with Residence Deduction

Contact Us to discuss your specific tax needs, and how GTP Tax Services can help you maximize your return.

Small Business Tax

Set-up your small business for success by maximizing your deductions.  At GTP Tax Services, we provide customize Tax services that fits our client’s business goals and budget.

Our small businesses clients demand us to be:

  • Affordable
    • We are very affordable as we provide
  • Available
    • We are mobile; we get to you in case you are unable to get to us.
  • Reliable
    • We have over 20 years of experience working with Small enterprises.
  • Convenient
    • We not only come to you, but we also work around your schedules.

Whether you own a small business or you are self-employed, book your Free Consultation today to understand the value GTP Tax Services may be able to provide for you moving forwards.

Corporate Tax

Tax time is often stressful and complicated specially when it’s for the corporation. Corporate Tax filing not only demands accuracy, but also it must be filed on-time. In addition, Corporate clients also ask us to prepare their financial statements and proper deductions of all eligible expenses.

GTP Tax Services specializes in filing Corporate returns, and we strive to reduce your tax liability. Regardless whether you are filing late, you need to file back taxes, you have had undeclared income that you are trying to rectify or you have a high chance of getting audited, GTP Tax services is there for you!

We also do taxes for:

  • Not for Profit Organizations;
  • Tax-Exempt Corporations; and
  • Inactive Corporations

Contact Us today for your Corporate Tax filings as we work with your deadlines.

GST/HST Returns

GST/HST Returns may not be as simple as it seems since it requires one to report several important items such as total sales, GST/HST collected or became collectable and GST/HST paid or own. From CRA perspective, it is not enough to just pay the correct GST/HST, one must also show the total sales, the total tax collected and the total tax paid.

In the computer age, there are many commercial off the shelf software are available for calculating GST return; however, it is extremely important for one to know what information needs to be inputted to generate right number — reporting recovery of bad-debt or other adjustments, property purchases, self-assessment of the GST, rebates, if any, etc. As the saying goes, Garbage In, Garbage Out; one can’t completely rely on the software to ensure the GST/HST return is filed completely and accurately.

Free Consultation for GST/HST Return filing.

Tax Consulting

With deep taxation knowledge, GTP Tax Services is equipped right to help individuals as well as for corporations with the issues that keeps them up at night.

Our large clientele includes diverse individuals as well as wide range of businesses across many industries. We understand overlooking a tax deduction can be very costly our clients and hence we pay extra care on identifying tax deductions that are available for individuals and businesses. Our experience has confirmed, lesser-known deductions such as charitable miles, hobbies, your accountant’s or tax consultant’s fees are just a few to list.

GTP Tax Services is an expert when it comes to CRA tax consulting and other essential financial advice. Book a free consultation to discuss how GTA Tax Services can help lower your tax liabilities.

Audit Assistance

The word “Audit”sounds scary especially when it’s linked with the CRA, but Audit is just a review, “a more in-depth review”. The goal of a CRA auditor is to check and confirm the numbers one has reported on the tax return are accurate, and a CRA auditor can do the same by checking the financial documents.

Audit avoidance by filing accurate returns is by far the best strategy; however, if one is selected for an audit, it should be taken seriously. GTP Tax Services is here to help, and we work closely with our client to ensure CRA questions are answered on the situation problem as quickly as possible.

Some of the Audit services we provide include:

  • Private Company Audit
  • Financial Statement Audit
  • GST/HST Audit
  • Internal Audit

In case you are selected for a CRA audit, don’t panic. Contact Us and we will reduce your stress and help you with the best possible outcome.

Business Registration

Before you register a business, you should understand the best business structure that meets your specific business needs. Consider a professional advice from GTP Tax Services, so you can make an informed decision when launching a new business.

We help with the following four types of business registrations:

  • Sole proprietorship;
  • Partnership;
  • Corporation; and
  • Co-operative.

Once we understand the risk, responsibility, debts and obligations and the liability related to your business, we are able to guide our clients with the options that may best suits their needs.

Contact Us to discuss your business goals and objectives, and the value we might be able for you moving forwards.

Dealings with the CRA

We help our clients deal with the CRA collection. Typical CRA issues we help resolve include arranging long-term payment plans, reducing penalties and interests, filing late, back taxes or reporting missed income and assets.  Working with the CRA requires knowing your rights, completing the home-work and preparing all the paper-work to ensure you are ready to present your case.

It’s important to know from where to get help? We educate our clients with the options that are available to them plus we also connect them with a suitable tax dispute lawyer should the need arise.

Contact Us for advice.

Bookkeeping Solutions

GTP Tax offers complete bookkeeping along with other financial services for small and medium enterprises in the Greater Toronto Area. When it comes to bookkeeping, we not only help you with keeping your books straight, but we also help you improve your accounting software as well as the bookkeeping functions for your office.

We are experienced in working with multiple accounting software, and we effectively and confidentially handle any specific accounting and bookkeeping needs our clients may have.

Contact Us  today for a FREE consultation.