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Small Business & Personal tax services

• Personal income taxes (Federal & All Provinces)

• Self-employed returns

• Sole proprietorship & partnerships

• Capital gains and investment income

• Rental property income

• Prior year tax returns

• Tax planning & strategies

Corporate services

• T2 Corporate Tax Return Preparation

• Monthly and Quarterly Bookkeeping

• Corporate Year End Preparation

• Financial Statement Preparation

• HST return preparation

• Tax planning & strategies

• Cost reduction strategies for small business

Efile Services available for all returns.

What documents that you may need to file your personal tax return:

Slips:

• Canada Pension Plan Benefits (T4AP)

• Employment Insurance Benefits (T4E)

• Employment: Year-to-Date Pay Stubs If No T4 Issued (T4)

• Investment Income: Interest, Dividends, Capital Gains (T3 & T5)

• Old Age Security Pension (T4OAS)

• Other Pensions and Annuities (T4A)

• Registered Income Fund Pension Income (T4RIF)

• Registered Retirement Savings Plan Contributions (RRSP)

• Registered Savings Plan Income (T4RSP)

• Social Assistance or Workers Compensation Income (T5007)

• Tuition, Education, Textbook Amounts (T2202A)

• Universal Child Care Benefits (RC62)

Receipts:

• Adoption Expenses

• Automobile Expenses

• Carrying Charges

• Charitable Donations (up to 5 years)

• Child Care Expenses

• Child or Spousal Support

• Children’s Fitness Receipts

• Home Renovation Receipts

• Interest Paid on Student Loans

• Interest paid to Earn Investment Income

• Medical Expenses (e.g., dental, prescriptions, eyewear, doctors fees, med insurance premiums)

• Moving Expenses

• Political Contributions

• Public Transit Receipts

• Rent or Property Taxes

• Safety Deposit Box Fees

• Tool expenses for Tradespersons

• Travel Expenses

• Union Dues or Professional Fees

• Workspace-in-Home Expenses

Other Documents That May Be Required:

• Business or Professional Income and Expenses

• Canada Revenue Agency Notices, Letters, Correspondence

• Claim for Meals and Lodging (signed by employer) (TL2)

• Court Order or Separation Agreement

• Declaration of Conditions of Employment (filled out and signed by employer) (T2200)

• Details of Purchases and Sale of Investments (stocks, bonds) or Real Estate

• Disability Tax Credit Certificate (filled out by physician) (T2201)

• Northern Residence Deduction Particulars

• Notice of Assessment and Re-Assessment for Last Year

• Rental Property Income and Expenses

If you need more info, Finlay Associates will help you. Our company is a highly skilled service company that specializes in accounting, tax and fraud prevention. We can identify areas of weakness that may lead to inefficiency’s and excessive costs that could directly affect your bottom line. By offering a wide variety of services from bookkeeping, internal auditing to fraud examination, we are a valuable asset to any business

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Finlay
Associates: Accounting & Bookkeeping Services

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Finlay
Associates: Accounting & Bookkeeping Services

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Bookkeeping Services

Payroll, accounts receivable & accounts payable, and preparation of financial statements are just some of the day to day bookkeeping services that can be provided by Finlay & Associates.

Accounts Receivable Management

We will process invoices, handle cash receipts, prepare and mail monthly statements and provide you with monthly aging reports.  We will also reconcile your accounts receivable each month.

Accounts Payable Management

In addition to processing and prioritizing your payables, we will provide you with monthly aging reports and reconciliation of your payables.

Bank and Credit Card Reconciliation

All your bank and credit card statements will be reconciled each month.  If you have internet features with any of your accounts, we can save you time by downloading them directly into your accounting system before reconciliation.

Month End Closing

In addition to reconciling your accounts payable and accounts receivable each month, we will also reconcile your other balance sheet accounts and review the income and expense accounts for accuracy.  We will do any adjusting and recurring journal entries that need to be done.

Financial Statements and Management Reports

We will provide custom designed financial statements and management reports.  Do you want previous year comparison statements, or current period and year to date comparisons?  Tell us what bookkeeping reports you need and we will design them to your specifications.

Other day to day QuickBooks bookkeeping services include;

- Payroll preparation

- Monthly/quarterly payroll + HST filing

- Miscellaneous bookkeeping and administrative work

Year End Accounting

We can simplify things at the end of the year for you by conducting a year end review of your books and gathering the information for the annual audit and/or tax returns.  This consists of, but is not limited to, analyzing the balance sheet and income and expense accounts, making any necessary adjustments and preparing schedules, with the appropriate backup, for all the balance sheet accounts.

Fixed Asset Management

Managing fixed assets can be a time-intensive process that you probably would like to forget about but can't afford to ignore. We can set up a fixed asset management system that is easy for you to use, or we can manage it for you. Fixed Asset Detail would include: purchase date, serial number, and manufacturer, as well as life of asset and depreciation method. Depreciation would be calculated monthly or annually.  We can also project the depreciation expense for future periods. Accumulated depreciation and book value will also be calculated.

Cash Flow Projections

Cash management is crucial.  When will your receivables come in?  Are you paying your bills too quickly?  Will you be able to meet next month's payroll?  How much cash will you have in 3 months?  Will you need a bank line of credit this year?  Cash flow projections work in conjunction with your financial statements to provide the answers to these questions. Working closely with you, we will prepare cash flow projections that will alert you to any cash shortages that may lie ahead, providing you with enough time to develop appropriate strategies.

Other Accounting Services Include:

- Budgeting

- Inventory control

- Inventory analysis

- Interacting with outside auditors

- Overhaul existing accounting systems

- Accounting system setup on new and existing companies

- Implement record keeping and accounting procedures

- Business Planning

- Miscellaneous accounting and administration