If you have a business, a Business Tax Return is more complex than a personal return, and depending on your type of business, it will likely affect your personal tax return.
The 3 most common types of business tax returns are:
Sole Proprietorship
Partnership
Corporation
Sole Proprietorship
A sole proprietorship is a business that is owned and operated by a single individual. If your business is a sole proprietorship, legally it is considered to be an extension of yourself. As a sole proprietor you are personally responsible for any liabilities and obligations your business may incur.
Partnership
A general partnership is a business arrangement between two or more individuals that share both the profits and liabilities of a business.
Corporation
A corporation (or limited company) is a distinct legal entity, seperate from its owners and/or shareholders. No member of the company can be held personally liable for the debts, obligations, or acts of the company. A shareholder is only liable for the unpaid portion of the shares owed.
We specialize in all aspects of bookkeeping, tax returns, payroll, and GST returns for all types of businesses, and no matter the size.
It's important to remember that you could be costing your business money by not knowing what deductions are applicable to your business tax return. In the case of a business return, having an experienced professional complete and file your return will most likely save you more money then it will cost you to have them do so.
No need to have receipts sorted or added, that is part of our service to you!