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SERVICES

Personal Tax
Corporate Tax
Bookkeeping
Consulting
New Housing Rebate
Personal Tax

Hoffman Professional Services offers personal income tax services through the whole year, not just at tax time.

We have online and in-person options for you to choose from.

  • Online services are great for clients with less than 30 tax documents. Simply log in and upload your tax documents. We send you a digital copy of your return and send you electronic documents to sign. Online personal tax services are also great for small business owners that already have all their bookkeeping completed for the year.

  • In-person are great if you have a large volume of tax documents that would be easier to just drop off at our office. They are also great for those who are not quite comfortable going digital quite yet. You bring in your documents and then come pick up your tax package and sign your returns in person.

We can complete all personal tax returns and our years of experience ensure that you are never missing any credits and maximizing your refund!

We have online and in-person options for you to choose from.

  • Online services are great for clients with less than 30 tax documents. Simply log in and upload your tax documents. We send you a digital copy of your return and send you electronic documents to sign. Online personal tax services are also great for small business owners that already have all their bookkeeping completed for the year.

  • In-person are great if you have a large volume of tax documents that would be easier to just drop off at our office. They are also great for those who are not quite comfortable going digital quite yet. You bring in your documents and then come pick up your tax package and sign your returns in person.

We can complete all personal tax returns and our years of experience ensure that you are never missing any credits and maximizing your refund!

Some additional personal tax services we provide are:

  • Back filing past due tax returns (we have seen it all, even returns that were 20 years late!)

  • Amending tax returns

  • Previous year tax return review to ensure that nothing was missed. If we find credits that were missed we can amend your returns

  • Assistance with Disability Tax Credit paperwork 

  • RRSP year end contribution calculations

  • AgriStability and AgriInvest returns

  • Maternity leave & EI tax planning

  • Estate and final tax returns

  • CRA issued pre & post assessment reviews

  • For sole proprietor business structures we do an annual review and tax rate comparison to let you know when it would be tax advantaged to open a corporation

Check out our price menu for our most current prices and discounts.

Corporate Tax

We prepare corporate tax returns and prepare annual financial statements for corporations.

Corporations are required to submit a T2 return within 6 months of their year-end. If a payment is owed this payment must be made within 3 months of the year-end to ensure no penalties or interest.

There are three types of financial statements that we prepare at Hoffman Professional Services:

  • Notice to Reader – The majority of corporations get NTR financials when their T2 returns are prepared.

  • Review Engagement – These types of financial statements are often requested by the bank if you have certain obligations laid out in your loan/credit card terms with a financial institution. Review Engagements provide the users (eg; banks) with more assurances that the books were gone over in greater detail than with NTRs.

  • Audited – Large public corporations require audited financial statements. Audited financial statements may also be required in company acquisition deals or large financing deals. Audited financials must be prepared by a Chartered Accountant.

We provide all three types of financial statements.

Our price menu includes our basic rates for corporations, however we do suggest booking a consultation and getting a quote as  different companies require varying levels of work to complete their corporate tax and annual financial statements. 

Bookkeeping

We offer dynamic bookkeeping solutions to fit your business!

  • Invoicing & collections

  • Accounts payable management & payments

  • Bank & credit card reconciliations

  • Month end closing & adjusting entries

  • Payroll services

  • Basic human resource services

  • Government filings: GST/HST filing, Source Deduction (payroll) filing, annual T4/T4A/T5008 returns

  • CRA review & audit requests

  • WSIB filing

  • WSIB annual reconciliation report

Consulting

Hoffman Professional Services offers a wide variety of financial consulting services.

  • Business startup consultation for sole proprietor – We can get your master business licence, HST account and payroll account set up for you or assist you with doing these things yourself. We can also provide guidance on bookkeeping basics, how to organize your paperwork, tax obligations as a business, and answer any other questions you may have when starting a new business.

  • Business startup consulting for corporations – We can incorporate your business, attain your master business licence, set up your accounts with the CRA (corporate, HST, payroll), set up WSIB accounts, or assist you with doing these things yourself. We provide the same business start up consulting as with sole proprietor, however we do go into a bit more of the tax planning aspects regarding the corporation and how you are going to pay yourself from it.

  • Business growth consulting – Looking to take your business to the next level but not sure how to get there? Let our expertise in business growth and development help your business plan a successful path to the next stage of growth. Our business growth consulting can be as in-depth as you would like to go. We can assist with overall planning or help you in more specific areas. Book a consultation and we can build your business growth plan together!

  • Business graphic design services – Logo design, print media design, social media post design, website content design, and more

  • Tax planning consultations – There are many reasons you may require a tax planning consultation; selling a property, selling a business, just invested in crypto, thinking of buying property in the States, looking to retire? We can help with all your tax questions and help you make informed choices!

  • Financial coaching for personal or business – We can create a budget for you or your business and check in to keep you accountable.

Consulting service prices vary depending on the depth of the work required. Most of our consulting services are paid at our hourly rate + reimbursed expenses paid out (for example the incorporation fee we may pay if we incorporate a business for you). For a more accurate quote, please give us a call or book an appointment to discuss your consulting situation.

New Housing Rebate

Have you recently built a new house, purchased a new build, or done major renovations to your existing home? If so, you could qualify for the New Housing Rebate which can refund you a portion of the HST you paid for your build.

Rebates are also available for landlords who build new rental units, buy a new build, or majorly renovate an existing rental unit.

The maximum possible rebate for a home built in Ontario is $30,000.

PAYMENT POLICY

All payments must be made in full prior to returns being filed. Returns will not be filed until full payment is received.

For large bookkeeping or corporate files, a deposit may be required. We will discuss this at the time of quoting.

Invoices past due 30 days or more will be subject to a standard 2% interest charge per month.

PAYMENT INFORMATION

We accept debit, visa, mastercard, cash, cheque, & eTransfer.

Our eTransfer address is:

payments@hoffmanps.com

REFERRAL & CASH DISCOUNTS

We offer all our clients a referral discount for all new clients they refer to our business. Our current referral discount rate is 5%.

Discounts available for payments made in cash.

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