Accounting, Tax, And Financial Services

For Businesses & Individuals

Accounting & Bookkeeping

Income Tax & HST Filings

CRA Audit Defence

Business Setup & Structuring

SR&ED Credits Applications

Tax Planning & Consulting

Managed IT Services

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Accounting & Bookkeeping

At Business Minding Services, we understand how overwhelming business finances can be, especially when juggling personal and business responsibilities.

That’s where our professional accounting and bookkeeping services come in.

Serving clients across Canada, we provide tailored solutions that give you peace of mind.

We’ll keep your financial records accurate, up to date, and compliant with Canadian law.

Our team of experienced accountants and bookkeepers offers a full range of services, from routine bookkeeping and payroll management to tax preparation and strategic financial planning.

Whether you’re a small business owner, an entrepreneur, or an aspiring entrepreneur, when it comes to expert accounting advice, we’ve got you covered.

We can help you streamline your operations, improve cash flow, and reduce tax liabilities, allowing you to focus on what matters most: growing your business.

We’ll take the time to understand your unique financial situation and business needs. From there, we’ll offer personalized solutions that save you time and money. We pride ourselves on providing clear, transparent services, ensuring you always know where your business stands financially.

At Business Minding Services, we’re more than just accountants – we’re your trusted partners in success. Let us handle the numbers so you can concentrate on running your business or managing your personal finances. Reach out to us today for a free consultation and discover how we can simplify your financial life.

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Income Tax & HST Filings

Improperly filed taxes can be costly. They can leave you vulnerable to audits, and leave you owing thousands of dollars more than you need. But it doesn’t have to be that way. We’re here to help.

At Business Minding Services, we’re here to take the stress out of income tax and HST filings. We specialize in providing accurate, reliable, and personalized tax solutions for individuals, small businesses, and corporations across Canada.

You’ll work with a team of skilled tax professionals, committed to helping you navigate the complexities of the Canadian tax system. Whether you need assistance with personal income tax returns, corporate filings, or HST submissions, we’ll make sure all your obligations are met with precision and efficiency. We’ll work to maximize your deductions and minimize your liabilities, all while staying compliant with CRA.

We understand that every client’s situation is unique, which is why we offer tailored advice and proactive strategies designed to save you time and money.

Don’t let tax season overwhelm you. Trust Business Minding Services for all your income tax and HST filing needs, and enjoy peace of mind knowing that your tax matters are in expert hands.

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Did You Know?

CRA maintains a list of eligible deductible business expenses. These include things that may seem more obvious, like wages paid, purchase of products or raw materials, and any business travel expenses.

But did you know that marketing can be a deductible expense as well?

So can the interest you accrue on a company credit card.

There are many different business expenses you may be able to claim to reduce your tax burden. Your BMS advisor can help.

CRA Audit Defence

Facing a Canada Revenue Agency (CRA) audit can be a stressful and overwhelming experience. But whether it’s your personal finances or your business in question, we’re here to help.

At Business Minding Services, we have decades of experience in helping our clients navigate the complexities of CRA audits with confidence. Your BMS team of experienced professionals is here to provide expert guidance, representation, and support every step of the way.

Our firm understands that a CRA audit can be time consuming, intimidating, and confusing. That’s why we take a proactive approach to help you prepare, respond to, and resolve your audit. From gathering and organizing the necessary documents to communicating directly with the CRA on your behalf, we ensure your case is handled with the utmost care and attention.

We help businesses of all sizes address issues such as payroll tax discrepancies, GST/HST audits, and income tax audits. For individuals, we provide comprehensive assistance with personal tax audits, making sure you’re not left paying more than you ought to.

Our team is well versed in the nuances of Canadian tax law and the CRA’s audit process. This means we’re able to identify potential red flags, resolve disputes, and advocate for the best possible outcome. We work with you to develop a strategy that minimizes stress, reduces liabilities, and helps you achieve a fair and favorable resolution.

Don’t face a CRA audit alone. With BMS, you’ll have a dedicated partner by your side, ensuring you navigate the process smoothly and efficiently.

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Did You Know?

When CRA decides who to audit, they do so based on assessing your risk factor. There are a number of different factors they consider when assessing this. This includes the presence of errors or inaccuracies, claiming too many deductions, and more. However, sometimes it’s just random selection.

Whatever it is that’s got you in CRA’s targets, we’re here to help. We can guide you through the CRA audit process, resolve their claim, and let you get back to your life and business.

Business Setup & Structuring

Start your new business with confidence, and put your mind at ease. At BMS, we’re here to help.

Starting a business venture in Canada is an exciting and challenging journey. You’re confident in your product or service, but when it comes to regulatory compliance, it’s best to leave it to the pros. Whether you’re launching a small startup, opening a new branch, or transitioning to entrepreneurship, Business Minding Services is here to help. We’ll guide you through every step of the business setup process. With years of experience helping businesses of all sizes get off the ground, we provide tailored solutions that ensure your venture starts strong and stays compliant.

Our team of experts specializes in helping new businesses navigate the complexities of Canadian regulations, tax laws, and licensing requirements. We assist with registering your business, setting up the right legal structure (sole proprietorship, partnership, corporation, or cooperative), and securing necessary permits or licenses. Our goal is to simplify the setup process so you can focus on growing your business from a strong foundation.

In addition to legal and administrative setup, we offer practical advice on accounting systems, financial planning, and tax strategies to help you build a sustainable business. Our firm will guide you in choosing the right business structure for tax advantages, managing your HST obligations, and setting up an efficient accounting system that aligns with your goals.

At BMS, we take the time to understand your vision and provide personalized support to ensure your business is set up for long-term success. From day one, we’re here to help you with everything from tax planning to compliance, so you can make informed decisions.

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Did You Know?

In Canada, there are four different ways you can structure a business: a sole proprietorship, a partnership, a corporation, and a cooperative. If you’re a solo entrepreneur, you may think a sole proprietorship is the best option, but that’s not always the case.

Each of the above options has its own implications in terms of profits, debts, tax status, legal status, asset ownership, and more. Your BMS advisor can help you make the best decision on structuring your business based on your unique situation and needs.

SR&ED Credits Applications

Scientific Research & Experimental Development

Are you an innovator in your field? If so, you may qualify for valuable tax credits through the Scientific Research & Experimental Development (SR&ED) program offered through the federal government. If your business is involved in research, innovation, or technological advancement, you may be eligible for tax credits and refunds through SR&ED. Our expert team specializes in helping businesses navigate the complexities of the SR&ED application process, ensuring you receive the full benefits of this important government incentive.

The SR&ED program can provide substantial financial relief, but the application process can be complex and time consuming. Our team has many years of experience working with businesses in diverse industries, from manufacturing and technology to healthcare and even food service. We understand what the feds are looking for, and how to effectively document and present your projects to maximize your claim.

From initial eligibility assessments to preparing detailed technical reports, BMS is here to support you throughout the entire SR&ED application process. We work closely with you to identify eligible activities, collect necessary data, and prepare the required documentation.

Our goal is to simplify the SR&ED claims process, reduce the risk of audits, and help you access the credits that can fuel your next innovation. SR&ED credits are appropriate for more activities than you might think. We’re committed to helping you get what you need to continue innovating.

Contact BMS today to schedule a consultation and find out how we can help your business take full advantage of SR&ED tax incentives.

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Did You Know?

SR&ED credits are available to businesses that demonstrate some sort of research, development, or innovation in their field. When you hear that, you might think of bubbling chemicals in science beakers, but there’s more to it than that.

In fact, SR&ED credits are available for more than you might think. Businesses the fields of healthcare, trades, food service, and many more can benefit from SR&ED credits to reduce their tax burden. Your BMS advisor can help.

Tax Planning & Consulting

Unlock your business potential and achieve lasting success – we’re here to help. At BMS, we offer expert business planning and strategic consulting services to Canadian businesses.

Launching a new business venture? Expanding an existing business? Looking to improve efficiency and streamline operations? For all this and more, our team of seasoned professionals offers personalized solutions that drive growth, efficiency, and profitability.

Business planning is more than just creating a roadmap. It’s about aligning your vision with actionable strategies. The goal is to guide your business through every stage of development. Your BMS team will work closely with you to craft customized business plans that reflect your unique goals and market opportunities. From financial projections and market analysis to identifying key growth drivers, we’ll work to create plan that’s comprehensive, realistic, and built for success.

Beyond planning, we offer ongoing consulting services to help you navigate challenges, optimize operations, and scale your business. Whether you need guidance on cash flow management, organizational restructuring, or expanding into new markets, our experts bring valuable insights and practical solutions to the table. Our goal is to help you make informed decisions that position your business for long term growth and profitability.

From technology to retail, healthcare to manufacturing, food service to marketing and more, we have years of experience advising businesses. We understand the complexities of today’s competitive landscape. Get the strategic guidance and support you need to turn your ideas into action and achieve measurable results.

Ready to take your business to the next level? Contact BMS today for a consultation and let our team of experts help you build a solid foundation for your business’s future.

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Did You Know?

When it comes to planning your business strategy, understanding your target market and your competition is paramount. In most cases, someone else is out there doing something very similar to what you do. But that doesn’t mean you should give up on your business.

Rather, it’s important to identify what makes you stand out from your competition, and who’s most likely to buy from you. Your BMS advisor can help.

We’ll work with you to help you better understand your unique selling proposition, so you can position yourself to take your share of the market.

Managed IT Services

In today’s fast paced, technology driven world, businesses need reliable and secure IT systems to stay competitive. A tBMS, we specialize in providing comprehensive managed IT services that help businesses across Canada optimize their technology infrastructure, improve efficiency, and stay ahead of the curve.

Our team of skilled IT professionals offers a full range of services tailored to meet the unique needs of your business. Whether you’re a small startup or an established enterprise, we deliver proactive IT support that ensures your systems are running smoothly, securely, and efficiently. From network management and cloud solutions to data backup and cybersecurity, we handle it all, so you can focus on what you do best.

With our managed IT services, you get 24/7 monitoring and support, minimizing downtime and resolving issues before they disrupt your operations. We take a proactive approach to IT management, implementing solutions that prevent problems, rather than just reacting to them. Our goal is to keep your business’s technology optimized, secure, and aligned with your growth objectives.

We also offer scalable solutions that can grow with your business. As your IT needs evolve, we’ll ensure that your systems continue to support your operations, whether you’re expanding your team, implementing new software, or integrating advanced technologies.

At BMS, we believe that technology should work for you, not against you. Let our team of experts simplify your IT management, reduce costs, and enhance your business performance. Contact us today to learn how our managed IT services can help your business thrive in the digital age.

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Did You Know?

The vast majority of data breaches are caused by weak or recycled passwords. Be sure to change yours regularly to keep your business safe and secure.

FAQs About Our Accounting & Financial Services

If i work from home, can i write off my home office?

In some cases, yes. If you meet CRA’s eligibility, you can use part of your utility, maintenance, and rent or mortgage costs to reduce the amount you owe in taxes.

Your BMS advisor can help you better understand how this works.

Is CRA more likely to audit certain types of businesses?

Yes, certain types of businesses are considered more likely to commit tax evasion. This is particularly true for cash based businesses, like restaurants, retail stores, or laundromats. However, there are still measures you can take to reduce your risk of triggering a CRA audit. Your BMS advisor can help.

What does it mean that a corporation is a separate legal entity?

If you decide to incorporate your business, your corporation exists as a separate legal entity.

That means your corporation can own property, enter into contracts, face criminal charges, and other things that individual people can do.

This has a variety of different legal and tax implications, which may or may not be the best approach for your situation. Your BMS advisor can help you decide whether incorporation is best for you.

Can BMS help me sell my business?

While we’re not in the business of brokering sales, we can help you take care of the organizational and financial implications involved in selling your business.

How long does it take to get SR&ED credits?

At the time of this writing, CRA’s SR&ED page says their standard is to process claims within 60 days, and process refundable claims within 180 days. But this is subject to change.

Let Our Team Of Experts Handle Your Accounting Needs

From bookkeeping to accounting to tax filing and more, we’re to help.

Let us take care of your business, so you can take care of your clients.

Book a consultation with us today to find out how.