Testimonials

Hammad Naseem

 “We started off as a small company and needed assistance with bookkeeping and year-end tax preparation. I am happy to say that within three years, we have enjoyed substantial growth and are well on our way into being a success story. Throughout this growth period, Williamson Accounting has been with us side by side- each month, providing updated financial reports and guidance needed to direct our business and keeping us on track. At the company’s year-end, they have been dependable in providing tax planning we need including issuing and filing T4’s for our employees and corporate and personal tax returns. They are a great resource for any start-up or growing business and we highly recommend their service.”


Hammad Naseem, Co-Founder, Flarian Innovation Inc.

 

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Williamson Accounting Inc. helping your small business to reduce taxes and simplify accounting in the Greater Toronto Area (GTA) and across Canada.

For a free initial conversation about your business, call (416) 444-8747 or Contact us.

Deducting Legal and Accounting Fees

By: Michael L. Williamson, Tax and Accounting Specialist

Many business owners are fully aware of some of the common legal expenses, such as drafting a shareholder’s agreement, reviewing the contents of a lease agreement, reviewing an employment agreement, etc.  The list is extensive.  You might also know that these expenses are all deductible to the business.  The business gets the tax break. 

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Six Deduction the Taxman Doesn't Want You To Have

TaxmanIt’s interesting how what is not ok with family and social development, is perfectly fine with the law.

For example, it’s perfectly legal for a sibling to pay their brother or sister to do their chores. But I believe most parents would veto this idea, because although ok by law, it’s the principle that counts.

It’s clear that the law doesn’t always recognize that certain behaviours may be against other laws. Take for example, while it’s illegal to marry more than one person in Canada, our law for tax purposes will allow you to treat more than one person as a spouse, if each meet the definition under the income tax act.

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Inheritance and Taxes

By: Michael L. Williamson, Tax and Accounting Specialist

Lately, I have been posed with this question: do I have to pay taxes on the property that I inherit from my relative? Let’s take a look at this important question.

Is there an Inheritance Tax in Canada?

Canada does not have an estate inheritance or a death tax. In general, there are no taxes levied by CRA on the beneficiaries; without being brazen, when a person dies they leave the Canadian tax system. On death they are subjected to tax for the very last time and the estate pays any tax that is owed to the government.

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We are located near Sheppard Ave. and the 401/ 404 Hwy corridor at 203- 211 Consumer Road 
Toronto, ON M2J 4G8
Tel: 416-444-8747
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Quotable

Jeffery L. Yablon

"Today is the first day of the rest of your taxable year."

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