How to apply for GST/ HST credit in Canada?
The Goods and Services Tax (GST) Credit, referred to as the Harmonized Sales Tax (HST) Credit in certain provinces, is a tax-free payment issued by the Canadian government every quarter.
Virtual CFO services in Canada
Say Yes to Smoother Accounting service management with our Virtual CFO Services
The role of a Chief Finance Office is paramount in any business, whether big or small. He or she is the person behind every single financial decision a business takes toward growth. Thus, it becomes necessary for the business to have a person who is deft in tax planning, accounting, cash flow management, financial analysis, financial planning, etc. Above all, the primary job of a CFO is to guide the business at every step towards financial security
The difference between record profitability from innovative plans and unexploited business chances from poor cash flow can easily be made by having an experienced and skilled CFO on your team.
With their significant training and experience, CFOs are well-equipped with the particular knowledge needed to advance your company. This implies that employing a CFO internally is expensive and that the time spent onboarding robs you of valuable decision-making time. Small and medium-sized businesses don't have the time or resources to waste on this.
If you are looking to ensure unmatched financial assurance in your business, you can opt for our Virtual CFO services that can help you with every facet of financial management including tax planning, financial prediction, decision making, and adoption of new ideas.
Taxccount’s remote Virtual CFO services in Canada offer high levels of ideas and expertise to businesses eliminating high expenses associated with hiring a full-time CFO. Here is why our virtual CFO services are way better than a full-time CFO.
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Cost saving
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Varied Business Experience
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You have access to a group of CFOs
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Budget management
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Flexibility and scalability
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Augmented cash flow
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Technical integration
Cost savings: By opting for our Virtual CFO, you can avert the expenses and perks that come with hiring a full-time employee. You will need to pay far less for virtual CFO services than it would for an internal CFO with comparable experience. The cost of VCFO services will depend on the time and deliverables that your company requires because they are priced based on your individual demands.
Varied Business Experience: Virtual CFOs have the distinct advantage of working concurrently in and learning about a variety of industries. While the VCFO service you engage with will likely assign you a CFO with in-depth knowledge of your particular line of business, they will presumably also have experience in other sectors. Your organisation may benefit from a larger range of insights and networks thanks to this diverse industry experience that would not otherwise be possible.
You have access to a group of CFOs: When you hire a virtual CFO who is a member of an outside CFO team or organisation, your business will get access to not only that CFO's experience and expertise, but also that of the entire team of CFOs at that VCFO service provider. The VCFO assigned to you serves as your single point of contact, but you have access to the pooled expertise of multiple highly-experienced CFOs who jointly monitor the budget, cash flow, expenses, and financial risks of your organisation.
Budget management: Based on the predetermined budgetary allocations for your company, virtual CFO services in Canada offer complete budgetary analysis reports. This makes it easier for you to keep an eye on expenditures and to continually review and manage the budget for your company.
Flexibility and scalability: VCFO services provide you the freedom to set the conditions for time and cost that work best for your business. Your needs will determine whether you need a VCFO to work full- or part-time. Depending on the shifting demands of your organisation, working hours may be increased or decreased.
Augmented cash flow: One of the main advantages of using a virtual CFO is the possibility to increase cash flow by learning from and putting into practise the VCFO's suggestions for enhancing specific company sectors. A skilled VCFO will examine the financial setup and spending habits of your company and make practical suggestions for improving cash flow.
Technical integration: To manage and guarantee accounting compliance and produce accurate financial projections, a professional VCFO service integrates cutting-edge technology, such as AI and advanced data analytics, into its processes.
How can Taxccount help?
By boosting financial management with digital transformation, you can benefit from these and other VCFO advantages. Digitization will significantly assist you in managing the shifting financial needs of your organisation, whether you choose an internal or virtual CFO.
Taxccount’s Finance and Accounting services provide end-to-end financial process support, empowering CFOs to carry out their responsibilities effectively and efficiently while fostering business growth. Make contact to find out how these services can benefit your company.
At Taxccount, we have a number of seasoned virtual CFOs on staff who have extensive experience in a multitude of businesses. When you choose our virtual CFO services in Canada, the CFO that best suits your project's needs and industry will be assigned to you. Despite the fact that this CFO will be in charge of your financial strategy, you will gain from the knowledge, relationships, and expertise of the complete CFO team.
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What Our Client Say
Taxccount has been our primary tool for several years. They were the crucial component we were searching for! Our entire business has been made simpler by their bookkeeping, and tax season is no longer as difficult. Over the years, the accountants and bookkeepers have all offered us unmatched guidance and tax planning that has helped us save money and time. We anticipate continuing our relationship with Taxccount for many years.
Kris Sharma
We are quite grateful to the accountants at Taxccount. Being a small enterprise, we have got the sufficient finances or time to hire an in-house bookkeeper and we have spent years muddling through on our own. The first month after deciding to work with Taxccount for payroll and accounting services, it was as if a weight had been removed! Since we are involved in providing an ecosystem for businesses, Taxccount’s accounting services come in extremely handy for us and make our job much easier.
Sudhith PD
Our staff now depends heavily on Taxccount’s services. Without them, I can't fathom how well my business would operate. They assisted me in maintaining my highly erratic bookkeeping and organizing it so that when December rolls around, neither my employees nor I would be in a panic. We never imagined that the tax season would go well, but Taxccount made it much easier than in previous years. I can't speak highly enough about their professionalism and experience!
Daljeet Singh Bhatia
For the filing of our company's taxes, we rely on Taxccount’s tax-related services. We discovered that tax filing had suddenly become too hard for us to do alone as our business and workforce expanded. The tax accountants have greatly reduced our amount of taxable income by locating tax benefits for us that we never would have discovered on our own. They collaborated with us all year long to provide advice on potential strategies for long-term tax minimization. We were so pleased with the tax preparation and planning services provided to our business that I asked them to also handle the personal taxes for my family.
Prashant Sharma
Our Blog
20 popular Canadian tax deductions and credits in 2023
The taxation system of each country is different. If you have just moved to Canada and are still figuring out the tax system, then this chapter will be really helpful for you. You will understand in detail about the 20 most popular Canadian tax deductions and credits relevant in 2023.
Taxes for new Canadians: Step-by-step guide for filing your taxes
If you are a newcomer in Canada and are filing your taxes for the first time, it can be a daunting and overwhelming experience. But when you have the right information, the process gets easier.
Are you required to file an income tax return?
When you generate income through employment, your employer is required to withhold tax installments from each paycheck and forward them to the Canada Revenue Agency (CRA).
Tax breaks for newcomers in Canada
Moving to Canada might seem to be an easy decision considering the vast opportunities it offers. But the one thing that most people tend to forget is the taxation system. Gaining insight into the functioning of income tax in this context can enable you to utilize tax advantages, which encompass potential financial benefits through government payments.
What is eligible dividend in Canada?
Dividends represent the distributions made to investors from a company's profits. Among these dividends, some are categorized as eligible, while others are termed ordinary or ineligible dividends.
