Case Studies
Benson - Fabricating Welding Business
Problem
backlog of bookkeeping 4 years -
Solution
Education and Catchup Bookkeeping.
Previous bookkeepers did not fully understand the CRA rules, the Canadian Tax Act, as a result, has not classified expenses correctly overstated Expenses. This resulted in a complete Bookkeeping file rebuild. Solved with our cloud solutions- Documents in the cloud, Coding in the cloud, Correct coding and classification of costs- Which resulted in corrected Corporate Tax files as well as the related Personal tax files. Upon bringing files and records (of 4 years) up to date,
Changed from Corporation having losses in each of 4 years to Having profit in 3 of the years, and owing Corporate Tax. Effect was it moved the client to having PEACE OF MIND.
Client comment My bookkeeping files and Tax records are now Compliant with CRA Tax law.
Ongoing
Bookkeeping ,Accounting,Tax services
