Who We Are.
Tax Jet Ltd. is a contemporary accounting firm located in Toronto, ON Canada, that provides a wide array of accounting expertise to professionals and small or medium businesses. Our objective is to enable economic growth by providing tailored and customized services that are unique to our client’s needs. We believe in simplifying the accounting process by effectively leveraging technology. We achieve such by serving small and medium businesses, start-up companies, consultants and professionals. Our dedicated team is committed to providing an extraordinary level of service to our clients. Our team strives to maintain a positive relationship with all our clients and to provide them with quality service for their accounting and taxation needs.
Why Incorporate?
Many small business owners face the pressing issue and decision of whether they should incorporate. Here at Tax Jet we like to explain the pros and cons of incorporating as follows ( references from Incorporation Canada) :
Pros:
• Limited Liability –
Incorporation limits the liability of a corporation's shareholders. This means that, as a general rule, the shareholders of a corporation are not responsible for its debts. If your corporation goes bankrupt, your shareholders will not lose more than their investment (except shareholders who have provided personal guarantees for the corporation's debts). Creditors also cannot sue your shareholders for the corporation’s liabilities (debts), even though the shareholders are the owners of your corporation.
• Lower corporate tax rates
Corporations are taxed separately from their owners. Because the corporate tax rate is generally lower than the individual tax rate, incorporation can offer you some fiscal advantages. Consider consulting a lawyer or an accountant to help you assess whether incorporating might save you money. In fact, your accountant will likely recommend incorporation once your revenues reach a certain point.
Cons:
• Higher start-up costs
If you decide to incorporate your business, you will have higher start-up costs than if you carry on the business as a sole proprietorship or partnership. Some of these costs are directly related to the process of setting up the corporation. Other costs can include ongoing professional fees paid for legal and accounting services. Consider consulting a lawyer, especially if you are thinking of setting up a company with a complex share structure.
• Administrative requirements
Your federally incorporated business must file certain documents with Corporations Canada, including:
- o articles of incorporation
- o annual returns
- o notices of any changes in the board of directors
- o notices of any changes in the address of the registered office
- o articles of amendment if changes to the structure of the corporation are made
Mission and Vision
Our Vision: To emerge as the leading choice for any bookinging and tax services across Toronto.
Our Mission: To provide the best bookkeeping, accounting and tax advisory services to all clients.
We've got saved our vision and our assignment statements quick because they assist us carry our desires inside the clearest feasible manner. In brief, we purpose to become your depended on accounting and bookkeeping firm for years to come. To help us attain your dreams, please call us.