Red Deer Accounting Firm

Income Tax Preparation Services

WORK TIME: 09:00 - 17:00
Saturday and Sunday - CLOSED
MAIL US
info@bomcas.ca
CALL US
780-667-5250
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Services

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Comprehensive Accounting and Tax Services in Red Deer

At Red Deer Accounting Firm, a division of BOMCAS Canada, we are committed to providing a full spectrum of accounting and tax services designed to meet the diverse needs of businesses and individuals in Red Deer and throughout Alberta. We understand that navigating the complexities of financial management and taxation can be challenging, which is why we offer expert solutions tailored to your unique requirements. Our mission is to deliver accurate, timely, and reliable services, empowering you to achieve your financial goals. With a team of experienced professionals and a client-focused approach, we are your trusted partner for all your accounting and tax needs.

Business Accounting Services

We offer a complete suite of accounting services designed to support businesses of all sizes, from startups to established corporations. Our comprehensive business accounting services include:

  • Bookkeeping Services: Accurate and meticulous bookkeeping is essential for sound financial management. Our bookkeeping services include:
    • Day-to-Day Transaction Recording: We meticulously record all your business transactions, ensuring your financial records are accurate and up-to-date.
    • Bank Reconciliation: We reconcile your bank statements with your internal records to identify any discrepancies and ensure accurate cash flow management.
    • Accounts Payable and Receivable Management: We manage your accounts payable to ensure timely payment to your vendors and accounts receivable to track your outstanding balances.
    • Financial Reporting: We provide you with regular financial reports that give you valuable insights into your business performance.
    • Cloud Accounting Solutions: We utilize cloud accounting software to provide you with real-time access to your financial information.
  • Payroll Services: We offer a full range of payroll services to ensure your employees are paid correctly and on time, while also managing all related tax and compliance requirements:
    • Payroll Processing: We handle all aspects of payroll processing, from calculating wages to issuing paychecks.
    • Direct Deposit: We offer direct deposit options for your employees, making payroll convenient and efficient.
    • Payroll Tax Filing: We handle all required payroll tax filings and remittances, ensuring your business is compliant.
    • Year-End Reporting: We prepare and file all year-end payroll tax forms, including T4s and other required documentation.
    • Record of Employment (ROE) Management: We assist in the management and preparation of ROE forms.
  • Financial Statement Preparation: Our team prepares accurate and reliable financial statements, providing you with a clear view of your business’s financial health:
    • Income Statements: We prepare income statements that show your revenues, expenses, and net profit or loss.
    • Balance Sheets: We prepare balance sheets that show your assets, liabilities, and equity at a specific point in time.
    • Cash Flow Statements: We prepare cash flow statements that show the movement of cash in and out of your business.
    • Compilation and Review Engagements: We provide compilation and review engagement services to meet your financial reporting needs.
  • Business Advisory Services: Beyond basic accounting, we offer business advisory services to help you make informed financial decisions:
    • Business Planning: We can assist in the development of strategic business plans to help you achieve your goals.
    • Financial Forecasting: We help businesses project future financial performance with our expert forecasting services.
    • Budgeting: We create detailed budgets that align with your financial objectives.
    • Cash Flow Management: We help businesses optimize their cash flow to ensure financial stability.
    • Business Valuations: We provide expert business valuation services.

Corporate Tax Services

We offer expert tax services tailored to the needs of corporations, providing comprehensive support to ensure compliance and maximize tax savings:

  • Corporate Tax Return Preparation and Filing: We prepare and file corporate tax returns accurately and efficiently, ensuring you meet all deadlines and comply with regulations. We assist in efiling direct to the CRA.
  • Tax Planning and Strategy: Our team develops proactive tax planning strategies to minimize your tax liabilities and help you take advantage of all eligible deductions and credits. We are always looking at ways to save you money now and in the future.
  • Industry-Specific Tax Advice: We provide tax advice tailored to the needs of your specific industry, ensuring you are compliant and taking all opportunities to save.
  • Capital Cost Allowance (CCA) Management: We provide assistance with managing your capital assets and claiming the appropriate deductions, helping you to maximize the benefit.
  • GST/HST Compliance: We assist businesses with the preparation and filing of GST/HST returns, navigating the complex rules and regulations of sales tax compliance.
  • Tax Audit Support: In the event of a CRA tax audit, we provide expert support and representation, guiding you through the process.

Personal Tax Services

Our personal tax services are designed to help individuals navigate the complexities of personal income tax, maximizing their returns and ensuring compliance:

  • Personal Income Tax Preparation and Filing: We prepare and file personal income tax returns accurately and efficiently, ensuring you meet all deadlines and take advantage of all available deductions and credits.
  • Tax Planning and Strategy: We help individuals develop tax planning strategies to minimize tax liabilities and maximize tax savings.
  • Self-Employed Tax Returns: We provide expertise to individuals who are self-employed, ensuring proper reporting of income and expenses. We can assist you in understanding the tax requirements of being self-employed and the best strategies.
  • Rental Property Income: We assist individuals with properly reporting rental property income and expenses, ensuring all applicable deductions are claimed and you are not overpaying taxes.
  • Investment Income: We help you understand the tax implications of your investment income, ensuring proper reporting and compliance.
  • Foreign Income: We provide you with expertise in reporting foreign income and tax obligations with the CRA.
  • Prior Year Tax Returns: We assist individuals with preparing and filing prior year tax returns.
  • Tax Audit Support: We provide expert support and representation if you are ever audited by the CRA.

Specialized Services

In addition to our core accounting and tax services, we also offer specialized services to meet specific client needs:

  • Farming and Fishing Business Returns: We offer specialized tax services for farming and fishing businesses, providing expert guidance and ensuring compliance with industry-specific tax rules.
  • Estate and Trust Planning: We assist clients with planning their estates and trusts, ensuring that their assets are protected and transferred according to their wishes.
  • Non-Profit Organization Services: We provide accounting and tax services for non-profit organizations, helping them maintain their tax-exempt status.
  • Business Start-Up Services: We provide essential advice and support to businesses during the startup phase, helping you to set up proper accounting practices and manage finances from the start.

Our Commitment to You

At Red Deer Accounting Firm, we are committed to providing you with the highest quality accounting and tax services. We believe in building long-term relationships with our clients, based on trust, mutual respect, and a dedication to your financial success. Our team is always available to answer your questions and provide you with the support you need to achieve your financial goals. We are dedicated to providing personalized service that is tailored to your unique needs, and we look forward to working with you as your trusted partner.

Why Choose Red Deer Accounting Firm?

  • Experienced Professionals: Our team has extensive experience in all aspects of accounting and taxation.
  • Personalized Service: We provide personalized solutions tailored to meet your unique needs.
  • Local Expertise: We have a deep understanding of the local Red Deer business environment.
  • Comprehensive Services: We offer a full range of services to meet all your accounting and tax needs.
  • Commitment to Excellence: We are committed to providing the highest quality services to all of our clients.
  • Part of BOMCAS Canada: We have the resources of a reputable national accounting firm to better serve you.

Contact Us Today

Contact Red Deer Accounting Firm today to learn more about our services and how we can assist you. We offer complimentary consultations and look forward to helping you achieve your financial objectives.