Accounting Services

Personal Income Tax

up to 5 reporting slips

• "Fast Tax" is designed to provide a quick "in-and-out" service for students, seniors or those reporting no more than 5 slips.
  For example: any combination of four T4's, T5's, RRSP contributions, tuition receipts or several donation receipts, etc.
• "Fast Tax" also relieves the pressure of filling out tedious hand written forms or struggling with $49 "do-it-yourself" computer tax programs that may not provide the accuracy and service you anticipated.
• "Fast Tax" will ensure that you have claimed all deductions that you are entitled to.
• "Fast Tax" ensures professional recording. A Canada Revenue Agency audit can result in reassesment and stiff penalties for improper reporting.
• "Fast Tax" is professional and affordable.

Fees: $69.95 for an individual and $120.00 for a couple, add an additional $40.00 for each dependent child. Fees are subject to GST.

includes e-filing at no additional fee. (E-filing will result in receipt of a refund four to six weeks sooner than if mailed or hand delivered.)

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Personal Income Tax - more than 5 slips

1. Teed & Company will work with you to plan your taxes in order that you will pay the minimum amount legally required. We prefer to work with all members of a family in order to reduce the overall family tax bill. We will prepare your T1 Personal Income Tax Return and e-file it with the Canada Revenue Agency. By e-filing your return, you will be able to receive your refund in about one week.
2. In the event that the Canada Revenue Agency (CRA) audits your return we will be available to represent you and act as your advocates during the entire process.

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Small Business Services

Computerized Bookkeeping

1. We support both AccPac and Quickbooks products and use either, depending on the client's preference. However, our preference is Simply Accouting for small and medium size business.
2. We will prepare your books on a monthly basis from your source documents. This can be done either in our office or from our office using a secure internet connection to books on your office computers.
3. We prepare all necessary GST and PST returns.
4. We can prepare payroll, using either cheques or electronic funds transfer. The payroll service includes preparation of your T4's and T4 summary.
5. We can provide monthly financial statements.
6. We can design and set up a set of books for you. We have designed software solutions for construction and land development companies, manufacturers, retailers and wholesalers.

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Payroll Services

1. Prepare your payroll each period.
2. Prepare cheques and payroll stubs or perform electronic transfer of funds directly from your bank account to each of your employee's accounts. Payroll stubs are prepared for all electronic transfer clients.
3. Provide a report detailing the employee and employer deductions required to be remitted on whatever interval you are required to file on.
4. Prepare T4's and the T4 summary at the end of the year.
5. Track union deductions and remittances by employee and prepare the necessary union reports.
6. Answer your questions as they relate to the BC Labour Standards Act.

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GST and PST Filing

1. As part of our Computerized Bookkeeping Service we will prepare the necessary GST and PST returns for you.
2. In the event that the Canada Revenue Agency or the Provincial Ministry of Finance audits these areas we will be available represent you and act as your advocates throughout the entire process.

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Financial Statement Reporting for proprietorship, partnership and corporations

Level 1)Compilation Engagement

Preparation of financial statements on this basis does not provide any assurance that the statements are produced from records prepared in accordance with generally accepted accounting principles. In fact, the report accompanying these statements states that they may not meet the needs of the reader. These financial statements are normally prepared for small businesses who use the statements only for internal use and in filing income tax returns. The fees for this type of engagement generally range from $1,000.00 to $5,000.00, depending on the size and complexity of the business.

Level 2)Review Engagement

Financial statements prepared on this basis require a more detailed retailed review of the business records and provide assurance that the review procedures did not uncover any any reason for us to state that the statements are not in accordance with generally accepted accounting principles. Many financial institutions require their borrowers to have annual financial statements prepared on this basis. The fees for this type of engagement would be approximately double the fee for a compilation engagement.

Level 3) Audit Engagement

Audited financial statements prepared give assurance to the reader that the results of the operations and the assets and liabilities are fairly stated and the statements are in accordance with generally accepted accounting principles. The fees for an audit are typically double those of review engagements.

Level 4) Specified Auditing Procedures

We also carry out specified auditing procedures required on real estate and notaries public trust accounts.

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Post Financial Statement Management

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Corporate Income Tax

1. Part of our services provided in each of the engagement types shown on the Accounting and Auditing service page includes the preparation of the T2 Corporation Income Tax Return. The fee for this service is included in the fee ranges quoted.
2. We will provide tax planning designed to defer and/or reduce income taxes so that you will only pay the legal minimum amount.
3. If your business is audited by the Canada Revenue Agency we will be available to represent you and act as your advocates during the entire process. In the event that legal advice is required we have a close association with a firm of tax lawyers that we have worked with for many years.

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Small Business Analysis and Training

1. You may have just started out and want to know what steps you need to make your business successful.
2. You may have a family member that wants to do your bookkeeping but has no training.
3. Maybe you need a filing or other office administration system designed and implemented.
4. You want to keep business statistics on the spreadsheet program in your computer but you don't know how to use it.

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Other Services

Business Advisory and Development Services

• financing for your business?
• a business plan?
• a budget?
• to project where your business will be in the next two, three or five years?
• to buy capital assets for the business but don't know if it is better to buy or lease?
• a bookkeeper, but are concerned about how to ensure your prospective employee can do the job?
• to improve your cash flow?
• to consider expanding your business?
• to reduce accounts receivable collection problems?

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Trouble Shooting

We are available to assist you in all manner of tax related troubles. Whether you are under audit, owe a debt, or are considering bankruptcy - we at Teed & Company can help.

Feel free to ask us what we can do to assist you in your situation.

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