Tips For Better Management
Many restaurants close down due to poor management. One important aspect of accounting that helps organizations to manage their businesses better is the review process. At GTA Accounting Professional Corporation, we can perform a review to ensure all your processes are conducted according to set rules.
We will highlight any challenges that could result in massive losses and provide solutions to better manage the restaurant business. We are always committed to helping you succeed in business.
If you have challenges in maintaining your financial records, we can offer our bookkeeping services to ensure all this information is accessible, accurate and easy to understand. We will ensure that your information is presented according to the best practices and international reporting standards.
This will allow you to seek financing in form of a business loan or investors who can easily see the financial position of your restaurant after reviewing your statements. Whether you need us to provide payroll services or bookkeeping, We are qualified to offer this and much more.
Do What You Love, Leave the Rest to Us
You got into the restaurant business in order to deliver value and quality to your customers. Many of our clients do not want to spend their valuable time on accounting, managing inventory, payroll or taxes. That’s where we come in. GTA Accounting Professional Corporation is a restaurant accounting firm that allows you to pay attention to your business. We will handle the most challenging parts of your day which includes managing your books and making sure your staff is paid on time. Partner with an accounting firm that makes managing your restaurant’s finances easier.
Minimize on Taxes
Do you suspect that you could be wasting too much money in form of taxes? We can help you to record your sales properly in order to reduce your tax liability. Many restaurants are taking advantage of accounting professional to maximize profits and get the most of their investments.At GTA Accounting Professional Corporation, we make sure you’re never late on filing or paying your taxes and that you can minimize on payments made to the Canada Revenue Agency.
Accurate Financial Information at Your Fingertips
Organized financial records can help you to properly manage your restaurant business. We have a qualified Chartered Professional Accountant who can show you how to increase profits by analyzing your reports. We will show you how to track important sales transactions and get insights that you can use to make better decisions. With just the right information, you can make changes to your restaurant business that significantly boost its performance.
FTC (Foreign Tax Credits Or Deductions)
For all the taxes you paid in Canada, you can make a claim for foreign tax credit on your United States tax returns. If you are a green card holder or a U.S. citizen, you must file the 1040 form on yearly basis if you meet a certain income threshold. You may be subject to S.E. tax exemption if you reside in Canada and you are exempted by the Canadian U.S. social security agreement. You will have to file disclosure to this exemption with the 1040 Form.
Other than filing the 1040 Form every year, you may be subject to additional tax reporting. Additional tax reporting may apply if you are a beneficiary or if you own Canadian Mutual Funds. You are also subject to additional U.S. tax reporting if you own or are a beneficiary of Canadian RPPs, RESPs, RRSPs, and TFSAs.
Need Help With Taxes?
Bookkeeping, Tax Strategies and more.
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