Award-Winning Accounting and Tax Services Toronto
Let Canada’s most approachable CPA handle your accounting and taxes. Why? We handle it better, preparing balance sheets, tax filing, bookkeeping, payroll and more!
Less Stress, More Savings. Your Accounting and Tax are Planned, Managed, & Done for You.
Unlock Maximum Earnings.
With proactive planning and our proprietary tax-saving strategies, we identify and maximize available tax credits and deductions. This includes GST/HST rebates, ITCs, and R&D credits, potentially boosting your NOI by over 25%.
Avoid CRA Penalties.
Worried about CRA audits? Relax while we handle your accounting and tax filing. We guarantee 100% compliance with CRA requirements. If audited, we will handle it for free!
Get Dedicated Support.
Get one-to-one support from award-winning tax accountants in Toronto. You can get a response from our experienced accountants within 2 hours to address your concerns.
Save Time and Money.
Enjoy peace of mind in having your finances in the hands of an experienced accountant. With our automated cloud accounting (Quickbooks and Xero) services, we will save time and reduce your business costs by 30%.
Expert Accounting and Tax Services in Toronto.
As a leading Toronto Tax and Accounting Firm, we offer comprehensive solutions for businesses and individuals.
Financial Statements Preparation
- An accurate balance sheet reflects your company’s financial position.
- Income statements showing financial performance, revenue, and expenses.
- Project cash flow to forecast your liquidity.
Tax Preparation and Filings
- Specializing in HST, GST, PST/RST, and WSIB returns.
- Corporate Tax (T2) returns to the Canada Revenue Agency (CRA).
- Maximize deductions and avoid penalties by filing accurate tax returns.
- Claim maximum Input Tax Credits for every expense.
Payroll Management
- Ensure timely payments to employees.
- Manage compensation, benefits, deductions, and advances.
- Preparation of Records of Employment (ROE).
- Compliance with CRA & WSIB.
- Year-end tax reporting, including T4, T4A, and T5018.
Automated Bookkeeping Services
- Bank and credit card reconciliations.
- Day-to-day transaction processing and recording.
- Up-to-date books for sales, purchases, expenses, and payments.
- Accounts payable and receivable management.
- Managed by a QuickBooks ProAdvisor (Gold tier).
Tailored Corporate Taxes
- One-to-one Tax Review Call with a CPA.
- Provide a Peace-Of-Mind Checklist to minimize errors.
- Tax Strategy and Consulting support from experts.
- CPA Guidance to reduce the potential risk of CRA Audit.
Additional Accounting Services
- Business Advisory Services to improve financial performance.
- Audit rescue™ from CRA and handle CRA Dispute.
- Assist in budgeting and forecasting for your business.
- Manage M&A activity (right strategy and after-the-deal support).
- Business Incorporation services.
Trusted By Toronto’s Up & Coming Corporations.
We have helped over 150 businesses prepare financial statements, manage payroll, and file corporate taxes. We have ensured maximum tax deductions and CRA compliance, increased operational efficiency, and saved hundreds of thousands of dollars in taxes.
See How Our Accountants Have Helped Toronto’s Businesses Like Yours.
Hear from our clients why we’re the best accountants in Toronto at handling accounting, corporate tax, and bookkeeping.
Quality Over Everything.
With 100% accuracy in bookkeeping and tax filing, we ensure we deliver top-notch accounting services you can trust.
Always at Your Service.
We’re your #1 accounting and tax partner. With years of expertise, our team is available 24/7 to assist you.
Cloud Accounting Saves Money.
With our cloud-based automated accounting, we reduced costs by 30% on bookkeeping and saved up to 25% on taxes.
Read Why Our Accounting and Tax Clients Love SAL Accounting.
Only Pay When 100% Satisfied with our Accounting and Tax Services.
Satisfaction Guaranteed
We guarantee 100% satisfaction to our partners. No satisfaction, no payment.
Compliance Assurance
We ensure strict compliance with CRA to avoid penalties. If audited, we will cover it free of charge to give you peace of mind.
No Surprises on Invoices.
Our pricing structure is upfront, so you know what you are getting.
Why Choose SAL Accounting as Your Premier Accounting and Tax Partner in Toronto?
The Number #1 Accounting and Tax Services Toronto.
We have experience serving all types of businesses and industries in Toronto, whether you are a small business owner or a large enterprise. SAL Accounting proudly serves the following sectors:
Manufacturing
We assist Toronto’s manufacturing companies with —
- Tax filing, including T2, HST/GST
- Claim maximum ITCs and R&D credits
- Preparing financial statement
- Managing bookkeeping & payroll
- Provide business advisory services for growth.
Retail
We offer Small Business Accounting Services in Toronto in the following areas—
- Filing tax such as GST/HST
- Set up prepayments for HST liability
- Track sales, expenses, and inventory changes
- Cost control and profitability analysis
- Cash flow forecasting for better liquidity management
- Managing bookkeeping & payroll
Healthcare
We provide accounting and tax to hospitals, clinics, pharmaceutical companies, and medical device manufacturers, considering their unique needs, including —
- Manage patient billing.
- Collect insurance reimbursement.
- Prepare financial statements.
- Provide cloud-based bookkeeping.
- Handle tax preparation and filing, and
- Provide business advisory services.
Real Estate
We understand property development, management, and sales tax implications for companies. We’ll help you to—
- Navigate capital gains taxes
- Depreciate assets efficiently
- Manage rental income taxes
- Maximize your profits through cloud accounting
Construction
Focus on building, not on transactional activities or taxes. We’ll assist you with the following—
- Estimate project costs accurately for proper bidding and budgeting.
- Compare the actual cost to identify discrepancies
- Recognize revenue based on project progress.
- Handling bookkeeping and payroll functions
- Identify tax-saving opportunities and put more money in your pocket.
E-Commerce
We will handle everything you need for your e-commerce accounting, including the following—
- Integrate accounting tools like QuickBooks & Xero.
- Handle your HST and sales tax compliance.
- Identify trends, opportunities, and areas for improvement.
- Cash Flow projection – forecast your liquidity.
How Will We Work Together with You?
A SIMPLE 5-STEP PROCESS FOR ACCOUNTING & TAX SERVICES
Step 1
BOOK A FREE Consultation.
We will understand your situation deeply and tailor our services to meet your needs accordingly.
Step 2
PROVIDE DOCUMENTS.
To get started, use our checklist to gather & upload your documents to our secure drive.
Step 3
GET ON AN ONBOARDING CALL.
Speak to your dedicated CPA to develop a personalized strategy to handle your matter and raise any immediate needs and concerns.
Step 4
ONGOING SUPPORT.
We hold your hand as you go through the process of submitting documents and explanations for any questions you ask.
Step 5
FINALIZE YOUR BOOKS.
Review your books and ask for any clarifications. Once you approve, your financial statements are ready for publishing.
A Message from Our CPA
Hi there! I’m the founder of SAL Accounting. I understand handling accounting and tax in-house can be time-consuming when you manage them inefficiently. Worry not; schedule a call, and we will manage it, ensuring your peace of mind. Our dedicated team is always accessible, ready to respond to your inquiries and offer support as needed. Consider us your company financial partners, dedicated to a hassle-free accounting & corporate tax experience.
M. SALMAN
Connect with Our Team of Toronto Accountants Today
Sarah Zeyneb
Jazz Thind
Alex Hart
M.SALMAN, CPA
FAQs: Cloud Accounting and Tax Services in Toronto
What is the difference between accounting and tax accounting?
Accounting refers to the systematic recording, reporting, and analysis of financial transactions within a business. It includes bookkeeping, payroll, tax filing, and business advisory services. In contrast, tax accounting focuses on a business’s tax-related matters, including preparing and filing corporate tax returns (T2), sales taxes (GST/HST), and implementing strategies to reduce tax burdens while ensuring compliance with tax laws.
What will you cover in your accounting and tax services?
We offer comprehensive accounting and tax services in Toronto tailored to Toronto’s business-specific needs. These include financial statement preparation, business incorporation, bookkeeping, payroll, business consultancy and advisory, corporate tax preparation and filing, indirect tax services (GST, HST, PST), CRA dispute resolution, and many more. We have extensive experience serving 7-figure businesses in the construction, manufacturing, real estate, e-commerce, startup, and healthcare industries.
What makes SAL Accounting stand out in Toronto?
SAL Accounting is an award-winning Toronto Tax and Accounting Firm known for exceptional client service and tailored accounting solutions focused on your business growth. We prioritize your needs, offering personalized services that address the unique challenges of your business. Our transparent communication, expert CPA guidance, and dedication to saving you money set us apart from other firms.
How do you ensure HST compliance?
We professionally manage and file your HST to ensure maximum input tax credits. You can trust our CPA to avoid CRA audits and protect your business from tax penalties.
What is a GST/HST number, and when do I need to register for it?
Businesses that exceed annual revenue over $30,000 are required to register for a GST/HST number. Even if your revenue is below this threshold, you can voluntarily register to claim input tax credits. We will help you to register and claim ITCs.
Do you offer year-round support, or is it just during tax season?
SAL Accounting fosters long-term relationships at the heart of its corporate policy. We provide support throughout the year, not just during tax season. Whether you need assistance with tax planning, bookkeeping, or any other financial matters, our expert team is available to help you year-round.
How can a CPA improve my business’s cash flow?
A CPA can advise you to manage your cash flow better by offering financial management, forecasting, and budgeting. This helps keep your business financially healthy.
When are the key tax deadlines?
Canadian corporations must file their corporate tax return (T2) within six months after the corporation’s fiscal year ends. For example, if a corporation’s fiscal year ends on December 31st, the filing deadline will be June 30th of the following year.
For individuals, it is typically April 30th. For self-employed individuals, the filing deadline is June 15th. However, any taxes you owe must be paid by April 30th to avoid interest charges by CRA.
How can SAL Accounting help my business save on taxes?
Our CPA will identify potential tax-saving opportunities such as Input Tax Credits (ITCs), R&D Credits, or other permissible incentives that your business is entitled to claim. We will evaluate potential tax risk and exposure, plan in advance to maximize deductions, and ensure compliance with provincial and federal tax laws. Additionally, our personal tax accountants in Toronto will help you file your tax returns.
How do I know if my current accountant is right for my business?
Your accountant should provide clear, precise advice and communicate well. They should be proactive in finding tax-saving opportunities and ensuring compliance. It might be time to switch if they don’t meet these criteria.
Switching accountants in Toronto is my biggest concern. Is it a hassle?
Changing accounting firms can be nerve-wracking. The transition will be smooth and hassle-free with the SAL Accounting Team. We will communicate directly with your existing accountant to transfer your financial data.
Is it necessary to have an accountant near me?
No, you don’t need to. We offer our services online and offline, so we can help Shopify businesses no matter where they’re based.
Where is SAL Accounting located?
SAL Accounting is located in the heart of downtown Toronto. Our office address is 330 Bay Street, minutes from Union Station and CN Tower.
Get Your FREE Consultation Today to Discuss Your Needs.
Looking for affordable accounting and tax services in Toronto? Don’t delay. Reach out today to schedule a free consultation!