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ACCOUNTING AND
BOOKKEEPINGDevelop and maintain accurate, informative and timely set of books in order to make the preparation of year end financial statements more efficient.
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Business Advisory
SpecialistPreparation of business plans and cash flow projections, professional advise on purchase or sale of a business, assistance in obtaining financing, and more!
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Personal Finance
PlanningStructuring and professional advise on estate planning, retirement planning, education funding, and more.
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Taxation and Tax
Advisory SpecialistPreparation and planning of personal taxes, corporate taxes, sales taxes, payroll taxes, and more.
HOW WE CAN HELP
We simplify accounting so that you can spend more time running your business. We are more than just accountants. We are your trusted business advisers.
WHAT OUR CLIENTS SAY ABOUT
EIGENMACHT CRACKOWER
Very meticulous, diligent, minimize taxes, maximize profit, great resource, quick response, and amazing customer service
Ty Soo
Always on top of things and easy to contact.
A-Z Moving Company
A friendly bunch. Small but very knowledgeable, they know what they are doing.
Mimi Chen
INDUSTRY AFFILIATES
ACCOUNTING IS OUR SPECIALTY
Leave it up to us so you can focus on growing your business
FAQ's
In order to successfully claim a deduction of salaries to family members, such remuneration should be reasonable, be commensurate with the type of work or duties done by the family member, and be actually paid out. You should also remit deductions at source on such salaries where applicable.
Business Accounting
According to Canada Revenue Agency, All resident corporations (except crown corporations and resident charities) have to file a corporate income tax (T2) return every tax year even if there is no tax payable. We constantly track every changing accounting and tax rules and regulations.
Personal Taxes
Find out what’s new for every tax year and your filing and payment due dates. We will help you gather your documents to report income and claim deductions, and choose how you want to file and send your completed tax return to the CRA.
Business Advisory
A professionally prepared business plan is not only a strategy document, it is the best means for obtaining financing, attracting investors, seeking investment opportunities, and more.
FAQ's
A corporation is separate legal entity. There are both advantages and disadvantages to incorporate a business. The principal advantages to incorporating are for potential tax deferral purposes and limited liability protection.
In order to successfully claim a deduction of salaries to family members, such remuneration should be reasonable, be commensurate with the type of work or duties done by the family member, and be actually paid out. You should also remit deductions at source on such salaries where applicable.
Businesses that engage in a commercial activity in Canada, with a few exceptions, must register for HST unless annual taxable revenues do not exceed $30,000. A business can, however, voluntarily register if their annual revenues are below $30,000.
You are able to deduct home office expenses if your home represents your principal place of business or you are using a designated room/area in your home for your business and you meet clients on a regular and ongoing basis.
Business expenses must be incurred to earn business income. You cannot claim personal expenses and they cannot represent capital expenditures.
You can generally deduct 50% of the costs of meals and entertainment provided they are incurred for business purposes.
The decision depends on a number of factors such as expectant number of business kilometres you will drive, cost of car, how long you expect to keep your car, financing vs lease terms offered, your cash flow & working capital situation etc. Accordingly, it is important to analyse and quantify your situation to make a rational decision.
Business Accounting
Personal Taxes
Business Advisory
FAQ's
In order to successfully claim a deduction of salaries to family members, such remuneration should be reasonable, be commensurate with the type of work or duties done by the family member, and be actually paid out. You should also remit deductions at source on such salaries where applicable.
Business Accounting
According to Canada Revenue Agency, All resident corporations (except crown corporations and resident charities) have to file a corporate income tax (T2) return every tax year even if there is no tax payable. We constantly track every changing accounting and tax rules and regulations.
Personal Taxes
Find out what’s new for every tax year and your filing and payment due dates. We will help you gather your documents to report income and claim deductions, and choose how you want to file and send your completed tax return to the CRA.
Business Advisory
A professionally prepared business plan is not only a strategy document, it is the best means for obtaining financing, attracting investors, seeking investment opportunities, and more.
Insights Worth Investigation
With the constant evolving economy, tax laws and accounting standards change with it. Changes can be small or big, but they are crucial when preparing your files. Keep up to date with these articles, and you might just find new information you weren’t aware of previously.
Do you claim medical expenses on your taxes? Do you want to claim medical expenses on your taxes? Here is what you need to know!
While the current state of the Canadian health...
Read MoreHere are some tax breaks for the upcoming post-secondary school year!
By the middle of August, most students who...
Read MoreHave you had to pay for legal fees personally? Do you know when are legal fees deductible?
In most cases, the need to seek out...
Read MoreInsights Worth Investigation
With the constant evolving economy, tax laws and accounting standards change with it. Changes can be small or big, but they are crucial when preparing your files. Keep up to date with these articles, and you might just find new information you weren’t aware of previously.
Do you claim medical expenses on your taxes? Do you want to claim medical expenses on your taxes? Here is what you need to know!
While the current state of the Canadian health care system […]
Here are some tax breaks for the upcoming post-secondary school year!
By the middle of August, most students who are beginning […]
Have you had to pay for legal fees personally? Do you know when are legal fees deductible?
In most cases, the need to seek out and obtain […]