Whether you are a small business owner, a manager at a mid-sized corporation, or a self-employed freelancer, the team at Naffa is at your service. We offer comprehensive bookkeeping services designed to keep your finances in check. We help our clients in organizing and accurately recording their business transactions, including accounts receivable, accounts payable, inventory, purchases of material and services, calculation of payroll for employees, and determination of payroll liabilities. We ensure that every transaction matches with third party documents such as bank and credit card statements; you call it reconciliation.
Whether you own a small business with just a few employees or run a large company with multiple locations, you can benefit from the business accounting services of Naffa Accounting & Tax Services. Our accounting team is equipped to handle all sort of business accounting needs. We evaluate your business requirements and understand the complexities involved in running your business and then we tailor our services to suit your specific business needs.
PST, GST/HST, WSIB, AND EHT Returns
Naffa helps its clients in preparing and submitting federal and provincial sales tax (PST, GST/HST) returns. We also help clients in accurately calculating their WSIB premium and EHT liabilities.
Compilation of Financial Statements
Running a transparent and trusted business means keeping shareholders, owners, managers and other important stakeholders informed about key developments in your organization. Depending on the size and type of your business, you may need to prepare annual financial reports. Using our proactive and insightful approach, we will make sure you can deliver comprehensive and accurate reports to your stakeholders.
The Canadian Tax System is very complex. Struggling with difficult and time-consuming tax solutions does not make sense when you can obtain our services to handle this problem more efficiently in your interest. We will handle your federal, provincial, and local tax returns keeping you away from lots of worries. We offer flexible appointment scheduling. Finding time to work with us is an enjoyable experience. We will complete your tax returns whether you work for a company as an employee, for yourself as contractor, or you have numerous rental incomes. We will take care of your tax needs in detail and make sure that you claim all possible expenses and reduce your tax liabilities as much as legally possible. We deal with all types of Income Taxes, salaried individuals, persons getting commission income, self-employed persons, professional income, small businesses, corporate organization, trust income, not-for-profit organization.
We remain in constant touch with our clients and continuously monitor their performance. We suggest them means to grow and create opportunities for them to capture. Our suggestions have made our clients capable of achieving horizontal and vertical growth. Diversity and cost reductions are also some of the management tools we suggest to every organization according to their needs. How to maintain growth and how to minimize taxes and maximize after-tax funds are the constant lesson to remember. We also help our clients in making capital decisions such as, buy or lease equipment/automobile, improving margin/profit in this competitive economy.
Sometimes our clients want to expand their business by acquiring additional businesses or want to open their outlets at other locations. They want to diversify their business, or they want to sell the business and retire. In all these circumstances they need valuation of their existing business, valuation of expansion, or determination of reasonable proceeds from the disposal of current business. Our team is equipped with current business knowledge to arrive at the reasonable expected valuation for all purposes and circumstances.
Wealth Management & Financial Planning
Financial planning is more complex than simply budgeting, saving and investing. It is a process of setting short-term and long-term goals and mapping out a plan to achieve them without hiccups. It takes an intimate knowledge of market events, taxation rules for various jurisdictions, investment management, and estate planning to map out a functional and promising retirement plan. You need our expertise for designing an appropriate and carefully tailored plan to manage your financial affairs at every stage of your life. Buying RESP for your kids, arranging funds for their weddings, saving for your retirement, buying a car or a house all require intensive care and planning.
Advice on becoming Non-Resident if intending to leave Canada for long period of time
For various economic and social needs Canadians move to another country on a long or short-term basis. Some countries have bilateral tax agreements with Canada while most countries do not have such arrangements. Any Canadian moving to another country for a long-term basis must weigh the pros and cons of continuing economic ties with Canada or temporarily disconnecting the link with Canada to avoid the impact of double taxation. We analyse all the impacts of a client placed in such circumstances and then advise them appropriately.
Representing Clients to CRA and help them in Audit & Review
We serve our clients with year-round services for all their financial needs. We represent our clients to deal with all queries, questions, audits, and reviews initiated by the CRA or other government agencies. In case clients have questions regarding their taxes, we liaise with the CRA to satisfy clients questions also.
Most of our small business and corporate clients require the services of employees to help them operate the business. We provide year-round payroll services to accommodate their needs. We also prepare T4s for their employees and submit them to CRA.
Free Tax Filing for Deceased Persons and Persons with special needs
Keeping our values above our business needs, we have always filed tax returns for deceased persons and people with special needs free of charges. We will continue this valuable service as our core values are to make financial services feasible and fair to our clients.