Professional Accounting Firm Toronto


We are expert In

Corporate Tax

HST return

CRA review & audit


Tax Toronto

What do accounting and tax consultants do?

Accounting and tax consultants are professionals who provide advice, information or research about accounting practices. They may also resolve problems associated with financial records of a company. They also assist organizations with income tax return preparation and provide consultation on taxation laws.
Generally speaking, a person who has a bachelor degree in accounting is hired as an accountant while those who have higher degrees – for example Masters in Tax Accounting or MBA – can become accountants or tax consultants. Accountants work with business owners to prepare financial reports and tax returns which guarantee the accuracy of their income taxes. In some cases businesses may need assistance from chartered professional accountants (CPA) who offer services related to auditing sources of income from customers’ accounts. Tax consultants can either advise individuals who are having income tax issues or prepare income tax returns for them. For example, income tax consultants may file income tax returns for people who don’t have the time to do it themselves. As well, income tax consultants resolve income tax disputes between individuals and the Canada Revenue Agency (CRA). The latter hires income tax officials to ensure that all Canadians pay their required taxes.

Tax Toronto

Is it worth it to hire an accountant for personal tax?

It’s tax season, and many people are feeling the pain of filing their own taxes. If you’re sick to your stomach thinking about doing them yourself – it might be time to contact an accounting firm. An accounting agency will have staff that does bookkeeping for companies to ensure that they are being financially responsible. They have expertise in tax strategies that can help any individual or company cut its tax bill. Although at first glance it might seem like a lot of money to hire an agency, after you consider all of the benefits, it becomes clear that it’s actually quite an affordable choice.

Saves Money

The best thing about hiring an accountant is that you get back some of what you paid in taxes. There are several different methods that an accountant can use to help you reduce your taxes and save some extra money for yourself. A chartered accountant will better understand legislative changes and know how to prepare personal tax returns in a way that your taxes will be minimized as much as possible.

It's Not That Complicated

The tax code is so complex that it often intimidates people from doing their own taxes, but hiring someone reduces the amount of workload you would've had. For example, if you're a college student who had part-time employment during the school year, you might get a big refund because of all the money withheld from your paychecks by your employer. However, if you work in summer and don't have any withholding taken out of your paycheck (since it's only temporary), you will likely owe quite a bit more when April rolls around. An accounting firm would contact the employer and inform them that you're no longer employed, so your withholding would be lowered.

Save Time

There are only two ways to get money back from the government - either paid a little throughout the year or get a huge refund come April (which is basically like giving an interest-free loan to the government). If you think about it, filing your taxes takes hours of work - this time could be better spent working on something else. A good accounting firm will be able to cut down on the amount of time you spend dealing with tax paperwork, allowing you more free time each year!

Hiring an accountant for personal tax might seem like an unnecessary expense, but in reality it’s actually one of the smartest financial decisions you could make as part of your financial planning.

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Corporate Tax

Working as your own boss can be one of the most rewarding experiences in life. And when that hard work pays off, watching it grow and flourish? Even better! You’ll have more than yourself to celebrate with — you should also stay on top of taxes because there are some different tax filing obligations for incorporated or limited companies vs sole proprietorships

HST return

Filing a GST/HST return also refers to claiming the GST you paid on your purchases. Claims can be made for an eligible credit, up until certain limits; this is commonly called write-offs or business expenses - it's what they do! A lot of small businesses like filing their returns because if there are any credits left over at year end then these might offset some costs so that way no tax will have been due earlier in time (although not always).

CRA review & audit

It is important to know the difference between a tax audit and routine review. A CRA review does not mean that you have committed any wrongdoings, or will be facing criminal charges for fraud; it just ensures information provided on your return was accurate In most cases though if an individual receives one of these letters from Revenue Canada (RC) then there may very well be something wrong with what they've reported in regards to income taxes


Bookkeeping is the recording of financial transactions. Accounting, in turn, provides an important guide for businesses to make informed decisions about their future economic prospects and sustainability as a company by balancing costs against income earned on accountants' books each year at tax time. A balance must be found between spending money wisely while staying afloat financially; this can only happen when every aspect from book keeping through analysis has been thoroughly planned out beforehand so that you know what needs doing where before it becomes necessary or else risk facing bankruptcy due entirely too late!

Tax Toronto

Tax Services for our clients

Have you ever thought about hiring a tax accountant? Tax accountants can save your time and money, as well as assist you with the preparation of documents. If you’re not familiar with tax accounting, whether that’s preparation, the schedule, or additional expenses- we recommend that you contact an accounting service right away. In this article, we will discuss all the benefits that our clients will have if they choose TY TAX Accounting Tax Services.

Tax Toronto

Here are some of the benefits our clients receive from us

Saving time

People are very busy with their personal lives, jobs and children. What is more, you have to do taxes every year. If you don't have any knowledge about Canadian tax then you may want to hire a qualified professional.

Reducing mistakes

If you are not familiar with a personal tax return - it is recommended that you at least attend a consultation with a CPA professional or a firm, if not hire them. Why? Working with a professional corporate firm will help you accurately prepare and file your personal tax returns.

Saving money

lthough most people think tax services are expensive, they're either free or significantly less expensive than you would've thought. Tax accountants/CPA understand legislative changes and know how to prepare personal taxes in a way that minimizes your loss.

Regular contacts

Not only will we provide constant updates on status of your return, you can expect our team to consistently deliver the best services in Ontario.


Our team will ensure that your rights are protected throughout the process and no disclosure of your personal information past what is required will be necessary.


Our business will cater to our clients' scheduling.

Several years ago, tax returns were more simple and tax accountants were not required. However, the current tax system is quite complicated and it is generally recommended that you have a professional guide you through the system.

Tax Toronto

Should I hire tax services for my small business?

If you’re a small business owner, then the answer to this question is going to be an easy yes.

The penalties of not hiring a tax accountant in Toronto for your small business can negatively impact your company’s bottom line. Not only will it cost significant fees in fines, but you could end up spending quality time doing work that is better suited for someone whose sole responsibility within the organization is tax preparation and management.and decrease expenses.
Hiring an outside accounting corporation also gives small businesses professionals who understand how best to maximize their client’s profits. Chartered professionals are trained to see where it would be most beneficial for companies in all industries to make changes in order to increase revenue and decrease expenses.

If you’re considering hiring an outside corporation, there are a few things to remember. Make sure that the person or firm has experience working with small businesses and not just large ones. You should also be confident in the abilities of the individual assigned to your company because they will play a huge role in your organization’s success moving forward. This is why it’s incredibly important that you have some form of consultation with any tax professional, whether that’s through phone or in an office.

Whether you choose to hire a tax accountant for business or tax planning, you need to personally monitor your records diligently. If penalties come down on you from non-compliance or from mistakes made without good cause, it could spell significant disaster for your budget and line of credit. Penalties can add up quickly if proper diligence is not applied towards maintaining accurate records along with filing taxes on time.

Tax Accounting Firm Toronto

Contact Us for hassel free service

TY Tax Accounting is the leading tax accounting company in Toronto. We take care of your taxes so you can focus on what matters most to you. TY Tax Accounting has over 20 years of experience advising businesses and individuals on how to maximize their financial potential, starting with a strategic analysis of their finances. This includes customizing budgets and setting financial goals that will lead them towards success now and into the future.

Tax Toronto

Best tax accountant in Toronto

TY Tax Accounting, a tax agency located in Downtown Toronto, is one of the best places to go if you need assistance with your taxes. Our staff is composed of a variety of professionals, from chartered professional accounts and more. Not only do we have many years of experience helping people with their taxes, we also offer a variety of services at a number of price points. We offer a variety of services ranging from one year, to a full-time or part-time bookkeeper for a number of years.

People often come in with a variety of different problems related to their taxes, from being audited, having issues with self-employment tax, and payroll accounting. TY TAX Accounting has been qualified by the Canada Revenue Agency [CRA] and will do everything possible to meet their requirements and get you the results that you’re looking for. We also offer services such as small business bookkeeping, self-employed bookkeeping, and payroll services. Our Toronto tax accountants can help both individuals and small businesses with any questions or needs related to taxes.

TY TAX Accounting is known for offering a high level of service at competitive prices and our accountants will ensure that all applicable filing deadlines are met each year by processing paperwork in a timely manner. TY TAX Accounting can provide assistance with sourcing deductions, personal tax returns, corporate tax returns, capital gains and losses, GST/HST filings and more. Tax Accountant Toronto will walk clients step-by-step through the entire process, regardless of what they need.