Archive for February, 2010

Sunday, February 28th, 2010

File Tax Returns on Time to Avoid Unnecessary Fees

File your returns on time. CRA will assess interest from the point at which tax was due regardless of your filing date; however CRA will assess late penalties and fees for late filed returns. CRA’s 2009 prescribed interest rates can be found at:

http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m03/nr090304-eng.html.

If your cash flow won’t allow a payment, separate the return and payment. File your return on time and make payments as your cash flow allows. CRA’s interest rates for 2009 were more affordable than some bank loans. Late filing fees can be 50% of any amounts owing, so watch out.

Summit Certified Management Accountants specialize in accounting for Small and Mid-Sized business in Durham. We can help you stay in compliance and out of trouble. We can recommend strategies to minimize your tax burden while providing peace of mind. We take the time to understand your unique situation and work with you to improve cash flows, lower expenses and minimize taxes. Call us for help with your Personal Taxes, Corporate Taxes (T2), Bookkeeping and Payroll needs. We help clients in Pickering, Ajax, Whitby, Oshawa and Toronto.

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Tuesday, February 2nd, 2010

Tax Preparation Options

We offer a suite of competitively priced tax preparation services which include free consultations, e-filing, tax planning advice and audit assistance. However, sometimes you want to do it yourself and have your accountant look it over or you temporarily lack the means to pay for advice:

Ufile offers a comprehensive do it yourself package for tax payers who feel comfortable going it alone. Taxpayers with income under $20K can even file for free.
http://www.ufile.ca/default.asp?ref= JSC

The CRA works with community volunteer organizations to help people complete their income tax and benefit returns. This service is aimed at people who don’t know how to complete their income tax and benefit returns and are unable to pay for assistance. Visit: www.cra.gc./volunteer to learn more.

Summit Certified Management Accountants specialize in accounting for Small and Mid-Sized business in Durham Region. We understand the unique situations small business owners face and work with them to improve cash flows, lower expenses and minimize taxes. Call us for help with your Personal Taxes, Corporate Taxes (T2), Bookkeeping and Payroll needs. We assist clients in Pickering, Ajax, Whitby, Oshawa and Toronto.

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Monday, February 1st, 2010

Affordable tax preparation solutions for simple returns and modest incomes

We offer a suite of competitively priced tax preparation services which include free consultations, e-filing, tax planning advice and audit assistance. However, sometimes you want to do it yourself and have your accountant look it over or you temporarily lack the means to pay for advice:

UFile offers a comprehensive DIY package for tax payers who feel comfortable going it alone. Taxpayers with income under $20K can even file for free. To access UFile online visit:
www.UFile.ca

The CRA works with community volunteer organizations to help people complete their income tax and benefit returns. This service is aimed at people who don’t know how to complete their income tax and benefit returns and are unable to pay for assistance. Visit: www.cra.gc./volunteer to learn more.

Summit Certified Management Accountants specialize in accounting for Small and Mid-Sized businesses in Durham. We understand the unique situations small business owners face and work with them to improve cash flows, lower expenses and minimize taxes. Call us for help with your Personal Taxes, Corporate Taxes (T2), Bookkeeping and Payroll needs. We assist clients in Pickering, Ajax, Whitby, Oshawa and Toronto.

Posted in General | No Comments »