Tax planning made simple.

Represent your business to the CRA with an CRA Authorized experienced team behind you

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WHY CHOOSE RNS ACCOUNTING?

At RNS Accounting has professionals with detailed knowledge of the Canadian Federal and Provincial Tax Laws and Regulation. Consequently, we make it our priority to share this knowledge with our clients through tax planning, and raise awareness for available tax breaks within the framework of the Canadian Income Tax Act.

OUR EXPERTISE

experienced , knowledgeable , bookkeepers and accountants preparing your taxes.

AFFORDABLE

Our fees contain no surprises.

CRA AUTHORIZED

CRA authorized E-filers and client representatives

100% ACCURACY GUARANTEE

We guarantee you will receive the maximum refund you are entitled. We guarantee 100% accurate calculations

100% ACCURACY SERVICES

RNS will ensure you to prepare Ontario and federal tax return, financial statements, GIFI (general index of financial information), GST/HST returns in a timely and cost-effective manner and guarantee for 100% accuracy.

RNS can assist you in recovering the incorporation cost that you incurred to start the corporation without any tax implications.

RNS accountants will guide you through calculating the best mix of salary interest or dividends, or both.

Salary is tax-deductible to a corporation and taxable to an employee, Dividends are taxed first at the corporate level and then at a lower rate at the personal level.

Paying salary generates RRSP room that dividends do not whereas paying dividends to avoid Canada pension plan and employment insurances contributions, unlike salary. Mak Tax will advise you on a perfect integration when determining the best salary or dividend mix for an individual.

  • Corporate Tax Returns
  • Corporate Income Tax Planning
  • Audit and Appeals Assistance
WHAT CLIENTS SAY ABOUT US

Great service. If you are looking for someone who will take care of your taxes, you have to make sure he/she is the right person, whom you feel 100% comfortable to work with. Their service is very different to what I got from my past accountants. I was quite surprised how much range they could cover for me, and how much they cared about me. They will protect you from any possible mistakes you may make now and in the future. I'm sure you will leave the office with confidence for your future, and smile

Elina Miyake

WHAT CLIENTS SAY ABOUT US

Sutha Ratnam from RNS Accounting & Financial Services was very professional and he did an excellent job with filing my taxes. He went over everything in detail and really took the time to explain everything to me. I highly recommend and he will now be my go to guy for any kind of financial services in the future.

Evan Guinchard

WHAT CLIENTS SAY ABOUT US

I appreciate his attention to detail and answering all of my questions until I understand. Love how transparent his service is. All actions thoroughly explained. Very considerate, responsive, professional and timely. Highly recommended.

Nanako Mizutani

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SIMPLE, TRANSPARENT PRICING

Get started today. Choose a plan that best suits you and maximize your savings.

Premium

  • hst
  • 3 page-bank statement or credit card statement
  • book keeping

$50/month

Deluxe

  • hst
  • bank statement/credit card statment
  • we represent you
  • payroll upto 5 person /payroll remittene
  • wsib

$150/month

Elite

  • hst
  • bank statement/credit card statment
  • book keeping
  • we represent you
  • payroll, payroll remittance,
  • wsib

Price upon request

CORPORATE TAX GUIDE

 

Bookkeeping and Accounting

RNS provide affordable Bookkeeping and Accounting Services to any businesses. We can manage your existing account or create a new set of accounts. We can also handle GL, Payroll, Bank Reconciliation, and much more to complete your accounting needs.

RNS can help you to prepare your Financial Statements such as Income Statement and Balance Sheet. Transactions include Purchases, Sales, Accounts Receivable, Accounts Payable for an individual or organization.

RNS can guide you to file your HST, WSIB returns, prepare GST/HST, WSIB remittances on time and ensure you to get the accurate HST paid on purchases or services you provided.

RNS can transform financial data into significant information in conformity with standardized accounting principles thereby providing insights to your company’s performance. Tasks include Data Entry, Journal Entry Support, Year-End Closing books.

Payroll Services

Any business looking to reduce payroll administration and increase overall efficiency would benefit from using RNS Payroll services. Handling Payroll has never been easier, OUTSOURCE your payroll administration to RNS

RNS professionals will take care of your payroll Weekly, Bi-Weekly or Monthly payroll remittances (PD7A). RNS also can help you to prepare T4, T4a and Summary in an affordable way to get it done right at the first time and every time,

RNS Accountants are accomplished in compliant payroll processing and in keeping track of payroll regulation. RNS can help you effectively integrate your payroll services through consolidation and preparation.

Business Registration

RNS can register any type of Business such as sole proprietorship, partnership, or corporation on the same day with Reasonable Fees.

Sole Proprietorship is the simplest form of starting a business. Only one owner is responsible for making all of the decisions and, consequently receives all the profits, but also assumes all of the risks.

RNS can do Sole Proprietorship registration of new business names in a business day. Renewal of existing business names takes one to two weeks. We also will notify you when the renewal of registration is due, normally Ontario business name registration is valid for 5 years.

Partnership is a relationship between two or more persons carrying on a business. The body is usually more complex than sole proprietorship and there is more than one owner to share in the profit and/or losses.

RNS can establish either a general partnership or limited partnership for you, with a proper partnership agreement in place.

Generally, a Partnership neither pay income tax on its Income nor file an income tax return. Instead, each partner files an income tax return to report their share of the partnership's net income or loss. RNS will help the partners file T5013 Statement of Partnership Income and also help to claim Capital Cost Allowance (CCA) on own depreciable property.

Corporation is a legal entity that has its own legal personality which is different from shareholders, and the individuals who manage and run business are called directors or officers.

RNS can identify to choose a name for your corporation through NUANS (New Upgraded Automated Name Search), unless you're going to be operating a numbered company. We will help you to establish the initial registered office address and first board of directors and will ascertain the directors meet the eligibility requirements.

RNS will register the corporation on your behalf with the completed Articles of Incorporation, the covering letter, and a current NUANS name search which shows the name searched, the NUANS reservation reference number, and the NUANS date, as well as with the appropriate fee.

Who should file Corporate Tax Returns?

All resident corporations apart from registered charities, need to file a T2 Return for every tax year, even if there are no taxes payable.

This Includes: Non-Profit Organizations, Tax Exempt Corporations, Inactive Corporations, Non-Resident Corporation

Corporate Tax Schedules

Some of the commonly filed Corporate Tax Schedules we assist clients with are:

Schedule 1- Net Income (Loss) is converted to taxable Income (Loss)

Schedule 2- Charitable Donations

Schedule 3- Dividends Received and Paid by the corporation

Schedule 4- Corporation Losses to be carried back or forward

Schedule 6- Summary of Disposition of Capital Property

Schedule 8- Capital Cost Allowance (CRA Depreciation of Capital Assets)

Schedule 9- Related and Associated Corporations

Schedule 10- Depreciation of Intangible Assets

Schedule 19- Non Resident Shareholder Information

Schedule 24- First Time Filer after Incorporation

Schedule 29- Payments to Non-Residents

Schedule 50- Shareholder Information

GIFI Schedules 100, 101, 125, 141- Equivalent of Balance Sheet and Income Statements

Many other Provincial Schedules from Ontario, Alberta, and British Columbia

CRA Audit Representation

Personal Tax Audit

CRA audit focuses on verifying donation, rental receipts or medical receipts in fact anything related to tax compliance. If the CRA is not satisfied with the documentation that you provided, then CRA starts to audit the entire tax return. RNS professional representation can be dynamic when dealing with government tax correspondence, and our vast experience with tax authorities enables us to guide clients in their successful dealings with the Canada Revenue Agency (CRA).

If you have been reassessed, have failed to file past due returns, or chosen for an audit, RNS professionals can put many of your worries at bay. We are ready and willing to answer any questions the CRA may be asking of you and will also advise you on your rights and responsibilities and even file an appeal if it seems warranted.

Business Tax Audits

During business audits, the Canada Revenue Agency (CRA) closely examines books and records of small and medium-sized businesses to make sure they fulfill their obligations, apply tax laws correctly, and receive any amounts to which they are entitled.

A CRA auditor will write to you or call you, or both, to begin the audit process and inform you of where the audit will take place. At RNS, we will take care of the details, arranging mutually convenient meeting times and places for the CRA to perform the audit. RNS can support on-site audit as well as office audit by the CRA. We will also negotiate on your behalf to limit the scope of the audit itself.

RNS will coordinate with the CRA auditor and organize supporting documents (business records such as ledgers, journals, invoices, receipts, contracts, and bank statements).

RNS also makes itself present throughout the entire CRA audit process so that the audit can be completed quickly with minimal delay. RNS will take care and handle all negotiations, objections and appeals up to the end of the appeal stage. If you disagree with the reassessment, we will go to the next step for Appeals by registering a formal dispute.

Get in touch

We would love to hear from you. Reach out via the form below and we will help plan your taxes.