Your Ottawa Accounting

We are a fully remote accounting firm which means we work in all Canadian cities, so we ca help you no matter where you are located

We prefer using QBO as it is the industry standard, but we are flexible to work with age, Quickbooks Desktop, etc.

We first have introductory call where we will discuss your current situation, issues and concerns, we will discuss your short and long term goals;

We will review the books to assess the current condition and define scope of work required to bring you to your ideal outcome;

Finally, we will have a follow up call when we will discuss way of working together.

 Corporation is a separate legal entity from yourself which ill have “Articles of Incorporation”, once you are incorporated you need to register for a business number and can also register a trade name.

Whereas, a Proprietorship means you are the business. You are able to operate a business, register for a business number and register a trade name, but still remain a proprietorship.

www.cra-arc.gc.ca/myacount -- after visiting sign in or register for an online profile.

If its your first time using this service, this may take few weeks to set up the account. Once your registration is completed, CRA security code will be mailed to you. Once you receive the code, you can enter it during the “My Account” registration process and gain access to your profile online.

The CRA “My Account” profile allows you to track your refund, view or change your returns, view your RRSP limit, change your address and much more.

An engagement letter must be signed by authorized representatives of both parties before it is considered to be a legally binding arrangement. Since this letter is treated as a contract, it should address the obligation of both parties.

For a non-resident selling property in Canada, the CRA’s requirement for the remittance of withholding tax is as follows:

The property purchaser is required to withhold 25% of the total purchase price, the seller is required to inform CRA of the proposed sale by filing a Certificate of Compliance. The CRA, on the receipt of this certificate, will bind the purchaser in releasing the amount withheld to the non-resident and then after the end of the calendar year, the non-resident is required to file a Canadian tax return to report the sale.