Lethbridge Business Accounting Services

Whether you’re a corporation, sole proprietor, landlord, or partnership, your business comes with complex financial needs that shift depending on industry, ownership structure and where it is in its growth cycle. To make sure your business thrives, you need more from your accountant than yearly taxes. With our team of Chartered Professional Accountants, you get diverse skills and knowledge to power every part of your business.

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Starting A Business

Advisory  |  CRA Setup  |  Incorporating an Existing Sole Proprietorship  |  Buying or Selling a Business

Operations

Advisory  |  Tax Estimates  |  Bookkeeping

Tax & Financial Review

Corporate Tax Returns  |  Financial Statement Preparation  |  Dealing with the CRA  |  Long-term Business and Multi-year Tax Planning  |  Shareholder Payment Planning  |  Restructuring of Corporations

Businesses We Work With

  • Professional Corporations of all specializations
  • Trades & Construction
  • Retail, both brick & mortar and e-commerce
  • Rental, both residential and commercial
  • Farms & other Agricultural
  • Investments & Holdings
  • Land & Infrastructure Development
  • Technology, Digital, and Start-Up Businesses
  • Service-based businesses of all types

And many other unique businesses.

To Discuss Your Business, Contact Us Today

Starting A Business

Business Financial Advisory

Advisory

We want to catalyze your success as a small business. Our team of specialists can offer you sound advice and guidance so you can make the most informed decisions for your business.

We can help you answer questions like:

  • Should I incorporate? Start a partnership? Begin as a Joint Venture? Or just become a Sole Proprietor?
  • Do I need to charge GST?
  • How do I pay myself?
  • How much do I need to save for taxes?
  • Who else do I need on my advisory team?

And more.

Canada Revenue Agency Form

CRA Setup

Set up your business for success right out of the gate. We walk business owners through the complexities of registering with the CRA, giving you one less thing to worry about when starting up.

Incorporating A Business

Incorporating an existing business

Incorporating might be that next big step in your growing business. However, with this comes new tax implications you need to be aware of. We can guide you through this exciting step so that you can keep cash flow at its maximum.

We help you:

  • Decide whether incorporating is right for your business
  • Determine the right time to incorporate
  • Strategize to ensure you get the most out of incorporating
Buying or Selling a Business

Buying or selling a business

Whether you’re considering buying or selling a business, it’s a decision that will change your tax status – and if you meet certain criteria, there are huge tax credits available to sellers. Our team of specialists can help you navigate this next step, and even offer advice on the best businesses to purchase.

Operations

Managing An Estate

Advisory

Ensuring smooth day-to-day operations is integral to building a sustainable business. Leveraging our depth of expertise and experience, we guide you forward as you make the choices that will define your business now and into the future.

We advise business owners on common questions like:

  • Should we rent or lease?
  • What’s the best ownership structure?
  • What’s our road forward to success?

Whatever guidance you’re looking for, we offer sound advice tailored to you.

Tax Estimates

Tax Estimates

Uncertainty creates confusion when you need to make big decisions for your business. We can help you lay out a firm foundation through tax estimates, so you can be more confident in your future dealings.

Bookkeeping Services

Bookkeeping

Do you know where your money’s going? We offer bookkeeping services, support and training so you can maintain clarity on money-matters.

Tax & Financial Review

Corporate Tax Returns

Corporate Tax Returns

Corporate tax returns are long and arduous affairs, with plenty of room for mistakes. Our specialists work with corporations to ensure all taxes are properly filed, while leveraging our extensive knowledge to keep more money in your business.

Business Data

Financial Statement Preparation

When you make big decisions in your business, like selling shares or leveraging equity, you need to know exactly where you stand as an organization. Whether it be a compilation, review engagement or an audit, we help you understand where you’re at so you can move forward with confidence.

Canada Revenue Agency Form

Dealing with the CRA

Maximize cash, minimize tax.

Corporate tax returns are long and arduous affairs, with plenty of room for mistakes. Our specialists work with corporations to ensure all taxes are properly filed, while leveraging our extensive knowledge to keep more money in your business.

Long Term Business

Long-term business and Multi-Year tax planning

The future doesn’t have to be uncertain. Our team of tax specialists can assist you in creating long-term business and multi-year tax plans that will help you clear hurdles and meet your business goals.

Shareholder Payment Planning Boardroom

Shareholder payment planning

Dividends, wages, bonuses, deferrals, multi-year plans, personal credits – it’s easy to get lost trying to pay yourself as a shareholder. The best way to pay yourself depends on your unique circumstances. Let our team help you determine the right strategies for your business.

Corporate Structure Planning

Restructuring of corporations

As corporations grow and become more and more complex, the tax implications for shareholders, employees and the organization itself change drastically. With the right structure, we can help you find ways to keep profits in both the business and the shareholders’ pockets.

FAQ (Frequently Asked Questions)

I am a _____ and need ______. Can you help me?

Almost always, the answer to this question is yes! As a team of accountants, we provide a wide range of services and support. But even if it’s not something we specifically provide, we can always point you in the right direction, and refer you to other professionals we trust.

Why should I use a CPA firm?

While you can get financial statements and business taxes completed at other service providers, at a CPA firm you will have greater peace of mind knowing that you are being taken care of by professionals. Becoming a CPA requires at least 4 years of post-secondary education, followed by a 3-year articling period, capped off by a 3-day exam! Follow that up with mandatory annual professional development, and you know that the CPA you’re working with is trustworthy, educated and capable.

You’ve mentioned ‘tax specialist’.

Are you just extra busy in April? At Volution, we have a group of seasoned tax specialists – much like a team of medical specialists! Most accountants are generalists, just like your family doctor, but our team would be more comparable to resident heart surgeons. So, when dealing with complicated problems in specific areas of the Income Tax Act, your accountant  should recommend tax specialists in that area – specialists like us.

How much does a business tax return cost?

This depends on a lot of different factors, affected by simple things (such as volume of transactions and quality of bookkeeping) to advanced (like foreign property or investments). The price is also greatly affected by the type of business you have. For example, sole proprietorships require fewer hours than corporate returns. We recommend getting in touch with us so we can provide you with a more specific quote.

How long does it take to file a business tax return?

This varies based on the complexity of your business affairs and completeness of the information you provide. We require two weeks at minimum, but can often take more time.

Why do corporate tax returns cost more than personal ones?

When preparing a sole proprietor’s tax returns, our primary focus is on income, i.e. how much did you earn? When preparing corporate tax returns, we also ask about your financial position – how much you own and owe – and verify those numbers as well. Simply put, there’s a lot more that goes into a corporate tax return, and that’s why they cost more.

How can you help my farm?

Agricultural businesses boast many unique aspects in both operations and tax laws. This adds an equal amount of complexity and opportunity to the mix. At Volution, we have the experience and knowledge to help you find more savings, and give you advice on how to move forward with your farm.

When should I incorporate my business?

This depends on your business and your plans for the future. Some businesses (such as freelancers or those that don’t have employees) may choose to never incorporate. However, other businesses (especially those with more liabilities) may choose to incorporate very early. To see if incorporating your business is the right call,  Book a Free, 60-minute Consultation.

How do I incorporate my business?

The route to incorporation depends on what type of business you own and its complexity. Often, this requires a lawyer and an accountant. For help navigating incorporating your business, Book a Free, 60-minute Consultation.

Should I go into a partnership, a joint venture or sole proprietorship?

Your path forward depends on how many people are a part of your organization, as well as your plans for the future of your business. For advice on this significant decision, get in touch with us!

I want to sell my business. Can you help me with that?

Yes, we can help! When preparing your business to sell, we can help you lower your tax liability and organize your books to make selling easier.

Do you deal with international or U.S. tax returns?

We have trusted people we work with to handle both international and U.S. tax returns. If you have investments outside of Canada, but only need to file a Canadian tax return, we can help you.

Do you have a question that isn't answered here? Let us know.

Contact Us