Accounting & Tax Services
Experienced Tax Accountants in Fort McMurray, Alberta
Accountant
When a small business starts transitioning, an accountant is not the only choice but also a must. Every entrepreneur, self-employed associate or start-up should understand how they can make the most from an accountant’s service and how they can help handle the fundamentals of financial aspects of the business. Skilled accountants can help you avoid problems by keeping track of cash flow and allotting funds to prevent unmanageable debt. They can also help you find ways to maximize profits and may also be able to find ways to save.
Accountants have the experience and know how to file efficient tax returns, keep your books in order, and help you dodge a dreaded audit. At NXT Accounting & Tax Services, we will listen to your goals and reconcile them against the reality of your financial situation. This can include saving for growth, providing additional employee benefits, and preparing for retirement. We will present the information to you in a way that helps you comprehend it. It all comes down to how you prefer to process your information and what sort of services you want us to provide.
When we talk about the smooth running of a business, we plan to handle it effortlessly. You have an updated accounts statement with your finances and accounts managed by our experienced accountant. At NXT Accounting & Tax Services, we have a team to assist your accounting needs. We are passionate about delivering the highest level of analysis and advisory services to help you manage your money and expand your business. We understand that all clients are diverse and carefully tailor our services to suit the needs of each individual or company.
The services we provide are:
- Balance Sheet Management:
- Budgeting:
- Account receivable reports:
- Account payable reports:
- Internal reports:
- Gain from Our Expertise
Personal Financial Management
Some of you may think you’re too young to manage your finances or too rich to keep a record of your budget. Your reasons may be justifiable, but only for the short term. When the time comes that you need to plan your finances, it might be too late as you’ve lost all your money. Whatever phase you’re in, you must have an ideal plan for personal finance management. This is how you handle and plan your investments, savings, expenses, income generation, and other personal financial activities.
Our Personal financial management services include:
- Work on financial modeling, cash management and budgeting
- Employee management, payroll and benefits administration
- Bill payment, vendor management and bank reconciliation
- Liaison to investment advisors, attorneys, insurance brokers, banks and other providers
- Present financial management reports and analyses for various constituencies
- Consult on financial management controls and processes
At a basic level, personal financial management implies understanding your financial situation to make the most of your assets and money in day-to-day life and in preparing for your future. Because at some point in your life, you will want to retire and have enough saved for your future, one needs to be mindful about their spending. The first step in handling your money is to determine your long-term goal. A clear purpose or goals will decide what you need to do to get there. Thankfully, there is a broad range of options for services that can help you achieve your objectives.
We understand each client has a particular set of financial complexities and long-term goals. That’s why at NXT Accounting & Tax Services, we offer a full suite of services to help save, grow or transfer your wealth and manage all aspects of your financial life. Our team of trusted advisors creates tailored solutions to help you focus on what truly matters. When you start systematizing your finances with us, you’ll have a better stance on where and how you spend your money. This can help you keep within your budget and even boost your savings.
Business Accounting, Payroll & GST
Payroll processing is a time-consuming procedure. It needs great attention to detail, from estimating payroll amounts to developing in-house reports or drafting and filing tax returns to signing and allocating paychecks. All these things require a reasonable amount of time. The intelligent thing is to outsource payroll services that will make business owners feel more secure as payroll services take out business owners’ anxiety and frustrations. They instantly free up your time from intricate calculations and ensure the appropriate deductions are withheld.
A payroll service provider is a firm that automatically processes payroll estimates, year-end taxes, payroll tax statements, and more. Many businesses use these providers to help ensure their employees and taxes are paid accurately and on time. They can help employers meet filing deadlines and streamline business operations. NXT Accounting & Tax Services are constantly updated with changes and revisions. This way, the possibility of mistakes occurring due to outdated information or data is less. Our professional services offer cost-effective solutions to your company’s payroll challenges.
With NXT Accounting & Tax Services, you don’t have to fear payroll; you’ll have more time to dedicate to serving your clients and acquiring new ones, improving productivity and revenues. You’ll also be sure that all your payroll taxes are being paid on time so that you won’t get shot with any shocking tax penalties. Even during your busiest season, you’ll know that your associates are paid on time. Overall, you have an expert payroll service provider who handles your payroll processing efficiently. Contact us to learn more about our services.
Some of the payroll services that we provide:
- Payroll checks and direct deposit processing
- Payroll reports (Payroll summaries & payroll detailed review)
- Employee Insurance Deductions
- Periodically payroll tax returns (Federal 941 & other state forms)
- TimeSheet Tracking
- 401K Management
- New Employee Onboarding Support
Services we offer:
- End-to-end accounting and bookkeeping services with detailed MIS report as required.
- Accounting entries for all income/expenses for the business
- Consulting for Accounting compliance, as needed.
- Accounting of worker expense reimbursements.
- Fixed assets accounting, holding a register of Fixed Assets.
- Manage paperwork and makes it easier to sum GST/HST remittances and file GST/HST returns
- Bank Reconciliation.
- Payments to suppliers and presenting reports of accounts payable.
About Business Accounting
With more data in hand, the government could validate the amount of income declared under the income tax and Sales taxes, which are commonly linked to a transaction and include the Goods and Services Tax (GST), the provincial and federal Harmonized. Sales Tax (HST) and local sales taxes (PST) would allow the authorities to determine under-reporting or non-reporting of income if any. Therefore, every business should maintain books of accounts and comply with statutory regulations regarding tax payments and filing timely returns.
Business accounting is the organized recording, analyzing and presenting of financial information. This information is accumulated into reports that show the financial health of a business. With a team of experienced Accountants, CFOs, Controllers, and everything in between, we make it a point that you get the accounting services and business insights you need. At NXT Accounting & Tax Services, we’re committed to making your accounting and taxes simple to handle and comfortable to act on the secret weapon for achieving your business strategy and bringing your vision to life.
NXT Accounting & Tax Services offers you end-to-end Accounting services so that you can look after your core business. We will manage all your accounting entries, vendor payments, tax compliances, bank reconciliation, and employee reimbursements and offer you detailed MIS reports as and when needed. Whether you are just getting your books of accounts together, you need support where someone else left off, or you are prepared for the next significant milestone, We are here to help. When you hire us, you can rest assured that your company is in good hands.
Incorporation and New Business Advisor
If your business idea is worth pursuing, make your business entity legal. You’ll need to understand your business model to ensure profitability and set it on the right path. At NXT Accounting & Tax Services, the team of financial experts,knows to start your business on the right foot. Incorporating a business is easy, but if structured poorly, it can significantly affect your business’s future. We feed small companies with a wide variety of new business advisory services.
We’re fully licensed and insured financial experts. Some of the services we provide our clients are:
- Strategic tax preparation
- Incorporation establishment
- Business establishment
- Cash flow monitoring and advice
- Entity selection
- Business growth and planning
- Advice for new businesses
- Advice for financing, loans, and investing
- And much more!
NXT Accounting & Tax Services has helped many people form new corporations. Our financial experts can also prepare financial statements and business plans to help secure funding and achieve long-term growth and success. We’re honest, transparent and trustworthy accountants who want to ensure your financial decisions will positively affect you and your business. We’re proud to offer incorporation and new business advice.
At NXT Accounting & Tax Services will work with you to ensure you meet all the conditions throughout the application process. Whatever your field of business, you’ll profit from our in-depth knowledge of the company registration process. Pulling from our many years of experience, our incorporation advisors will recognize and address any issues that may become a problem down the line. Rest assured, we prioritize honest and direct communication. From the inception till the end, you can count on being fully informed of the status of your company.
Corporate Tax Preparation
Complexities abound when deciding the income tax obligations of a business. With frequently varying laws and regulations, it’s not unusual for companies to unintentionally be at risk of non-compliance. The objective of our tax planning and preparation services is to not only reduce risk but also maximize value by setting companies for future growth. We recommend private and public companies at all growth phases, tailoring our strategies to requirements and expanding them as clients evolve.
As your corporate tax accountant in Toronto, NXT Accounting & Tax Services will ensure that you file your return less than six months after the end of the tax year. The tax year of a corporation is its fiscal term. As per Canada Revenue Agency, all resident corporations (excluding crown corporations and resident charities) must file a corporate income tax (T2) return every year even if no tax is payable.
Our Tax Accountants work jointly with clients and remain available and responsive to help them to reach their most important business goals. We offer integrated services, including preparing corporate income tax returns for corporations, filing tax elections, trusts and partnerships, and corresponding with federal and provincial tax authorities. We also recognize opportunities that will help minimize long-term tax obligations, review the effectiveness of business structures, and advise on the tax implications of proposed transactions.
This includes but is not limited to the following:
- Non-profit organizations
- Tax-exempt corporations; and
- Inactive corporations
Tax Guru
The tax accountants at NXT Accounting & Tax Services will help you prepare and position your business in a strong financial position with optimal cash-flow protection and tax relief. We’re experts in tax law and will help you navigate and emerge from the CRA inquiries successfully.
Personal Income Tax Preparation
We realize there are no cookie-cutter solutions for filing personal taxes, and your income tax return should reflect that annually. Programs and software that offer one standard solution rarely meet client expectations, resulting in missed tax credits and advantages you should receive. That’s why hiring a experienced person to work closely with you to understand your financial situation fully is vital. These experts will help you ensure that you get the tax deductions you deserve. A good tax preparation specialist doesn’t just look at your tax documents and deductions.
At NXT Accounting & Tax Services, our tax team has the background and the knowledge to deliver the most comprehensive personal income tax services. Our Experienced Tax Accountants will provide strategic financial planning advice for your desired future. We can manage all your tax return needs, from employment income and capital gains to rental properties and self-employed returns. Here at NXT Accounting & Tax Services we want to help keep your money where it belongs—in your pocket.
We understand that filing your tax return can be stressful and confusing. Sometimes, something as simple as the order you make withdrawals or purchases can drastically impact your tax return, which is why Let us take the burden of tax time off your shoulders. As your tax accountant in Toronto, NXT Accounting & Tax Services will also determine deductions to be included in your personal tax return. Our tax credit experts are on top of all the latest developments in Canada’s Income Tax Act.
When tax season approaches, many people to find themselves scrambling to track down their pay stubs, receipts, and other important documentation required for filing their taxes.
NXT Accounting & Tax Services will guide you in the right direction. We will assist you in preparing what is needed for your income tax preparation and help you get the return you deserve. Our experienced tax preparers have years of experience with income tax return filing and are available all throughout the year for your income tax help.
Our income tax services include:
- Personal tax return preparation
- Retirement planning
- Personal financial planning
- Estate and trust planning
- Accounting, bookkeeping, and auditing
- Tax planning and strategies
Trusts, Estate Planning & Wills
You have worked relentlessly to generate your family’s wealth. Now all you wish to do is save, grow, and – ultimately – transfer it to the next generation. It would be best if you had an authorized advisor who could look at every angle to create intelligent, customized solutions that evolve as your family situation varies. At NXT Accounting & Tax Services, our experts are recognized for taking a multidisciplinary method to help private clients handle and transfer their wealth. We like a more holistic view of our client’s challenges and possibilities.
We work closely with the investment experience of NXT Accounting & Tax Services to broaden our range of products and services.
- Personal tax and estate planning
- Wills and Powers of Attorney
- Family business succession planning
- Estate administration
- Trust Administration
- Charitable foundation creation and administration
NXT Accounting & Tax Services is fortunate to have a team of specialists on its trusts & Estates team with wide-ranging expertise in estate and trust-related disputes. You benefit from working with an entire group of advisors, from trust officials and retirement experts to estate planning . Because of our strong collaborative spirit, you get the customized attention you need. We work to help you today while enabling you to plan for the future.
We advise estate trustees during litigation, trustees, attorneys for property and personal care and guardians concerning their tasks and responsibilities, including in respect of the assets and liabilities. We assist with the transfer, disposition and allocation of assets and all matters ancillary to it. Our long involvement with the entrepreneurial community makes us especially appropriate to advise family business owners on succession planning. Together we can anticipate your investment needs — and those of generations to come.
Effective trust and estate planning ensure that your beneficiaries are secure and financially taken care of. Meeting with an accountant who specializes in trusts and estates administration can prepare your asset transfer in advance, making it a quicker process for your beneficiaries.
Financial Statement Preparation
Financial statements comprise your balance sheet, profit and loss report, and cash flow statement on how you monitor your company’s financial situation. These completed records can help you make future decisions and distribute them externally to lenders, creditors, or investors who will use them to evaluate the performance and future of your business. Their goal is much more than just assisting you with your tax returns or obtaining a loan. Having your financial data formatted and broken down to make sense will help you better forecast your future.
At NXT Accounting & Tax Services, our accountants have had sufficient experience to know that this daunting task is about putting the balance amounts onto formatted statements. We treat financial statements as dashboards that constantly provide pointers about your organization’s current financial stand. Our qualified accountants are here to reduce the workload of your finance team and let them focus on more pressing matters.
Your financial presentation can be a massive deal for you. Your investors, too, will be looking at your business financial reports to determine future investment potential, and banks will also review your statements to decide if they can risk lending funds to you. By partnering with NXT Accounting & Tax Services, you will get financial statements and advice that are factual and trustworthy. We promise to be your accountants on whom you can count for the best finance and accounting services. With us onboard, you no longer have to spend hours training your staff on how to prepare financial statements.
Starting your financial statement can be complicated if you have many expenses and investments. Preparing your financial statements is one of the most essential steps in the accounting process. With the help of NXT Accounting & Tax Services, we can assist you with the order of preparation. We have several years of experience in financial statement preparation and analysis, meaning that you can be confident that we will do the job right.
NXT Accounting & Tax Services has extensive experience working with the following:
- Finance
- Communication
- Education
- Consumer Goods
- Healthcare
- Insurance
- Retail
- Manufacturing and Production
Tax Litigation and Controversy
Tax legislation has become complicated, and tax audits are becoming more aggressive. Nowadays, Taxpayers face the challenge of handling tax risk in the face of a constantly changing legislative, administrative and judicial landscape, making it necessary to assign your tax dispute to someone with a good record of resolving it. Clients with tax disputes choose us for our responsive and experienced Tax Controversy/Tax Litigation Group to represent them. We represent many clients, including big companies, financial and public institutions, small businesses and individuals.
We consult and represent clients in all types of tax disputes, including:
- Corporate tax
- Personal tax
- International tax
- GST/HST
- Provincial taxes
- Excise taxes
- Access to Information requests
- Collection matters
- Voluntary disclosures
- Plan and implementation of corporate policies to protect privilege
- Transfer pricing and competent authority, and more
Our team analyzes each particular situation at the onset. We form strategic responses and solutions based on our comprehensive experience and keen understanding of tax laws and the tax controversy approach. We aim to resolve a client’s matter as soon as possible while ensuring the best possible settlement. We have built strong working associations with the IRS that have helped us to obtain fair settlements on behalf of many of our clients. Our firm’s vast tax litigation experience has allowed us to reach precedent-setting victories in several litigations.
With an understanding of our client’s industries and goals, we strive to develop cost-effective prosecution of refund claims, defense of assessments and other litigation and settlement plans to devise cost-effective solutions in connection with tax controversies. Working jointly with other NXT Accounting & Tax Services lawyers in business and specialty practices, our tax lawyers design creative solutions to our client’s tax controversies. This includes legislative solutions and other tax and business strategies that are not reflected in published court opinions.
Tax litigation requires a committed personal with years of experience and a precise understanding of the law. NXT Accounting & Tax Services is proud to possess all of those qualities.
We are a leading expert in the local tax litigation process. We help you overcome unwanted controversies, navigate the law, and determine whether you have been taxed unfairly. Ultimately, we give you the chance to build a better, brighter financial future.
Forensic Accounting Services
Most financial crimes occur due to fraud within the workplace alone. The consequence of fraud can leave an organization suffering, regardless of size. Observing or ignoring evidence of monetary misgivings can lead to severe legal and financial results. That’s where forensic accounting and forensic audit come into play. Forensic accountants are trained auditors, accountants hired to analyze suspicious or deceitful activity within a company. These experienced possess the proficiency and skillful attributes required to identify and prevent fraudulent activities.
Our litigation accounting team has gained a reputation for being thorough and intuitive. We comprehend such assignments’ sensitivity and know that communication and careful planning are the keys to a successful outcome. We begin every project by identifying key documents, assessing potential damages, and assisting with Examinations for Discovery. Then we design an expert report, provide court testimony, and cross-examine the opposing expert. We bring business pragmatism and, purpose, independent analysis to clients on every assignment.
Having spent extensive amounts of time collecting first-hand information and examining each engagement’s environment and contextual setting, we have a depth of sector-specific knowledge across various industries. If you require forensic accounting to assist you in corporate fraud investigation. We can help. Our skilled experts at NXT Accounting & Tax Services will deliver thorough and cost-effective results. Not only do we quickly resolve ongoing issues with our forensic accounting services, but we also recommend ways to be taken by you to bypass a situation in the future.
If you’re looking for a forensic accountant, look no further than NXT Accounting & Tax Services. Our experienced team of forensic accountants will handle your most sensitive financial matters professionally and discreetly.
We offer accounting fraud detection services and forensic accounting services in the following areas:
- Frauds done by financial institutions.
- Scams carried out in the healthcare and other domains
- Investigations of concerns raised by whistleblowers
- Defense of white collars
- Sites related to bankruptcy fraud
- Fraudulent conveyance actions
- Preferential payments
- Instances of breach of fiduciary duty
- Areas of director and officer liability
- Disputes about insurance coverage/interruptions in business
- Sites related to purchasing price disputes post-acquisition, working capital, billing and earn-out
