Streamlined Solutions for Sole Proprietors
GST/HST/PST Registration: We assist businesses in registering for Goods and Services Tax (GST) and Harmonized Sales Tax (HST) with the Canada Revenue Agency (CRA), as well as Provincial Sales Tax (PST) where applicable. This ensures compliance with tax regulations, enabling businesses to collect and remit these taxes as required by law.
Managing your business finances as a sole proprietor or partnership doesn’t have to be overwhelming. At Continental Prime Accounting, we simplify your financial processes and help you move “out of the shoebox” with tailored, efficient, and innovative tools designed to meet your unique needs.
- Sole Proprietorship Formation
- Business Name Search
- Name Registration
- GST/HST/PST Registration
- GST/HST/PST Return
- Organizing Financial Records
- Expense Tracking
- Income Reconciliation
- GST/HST/PST Compliance
- T2125 Preparation
What We Offer
Sole Proprietorship Formation: This involves setting up a sole proprietorship, which is a simple business structure where an individual operates a business under their own name or a registered business name, allowing for complete control and responsibility over operations.
Business Name Search: This service includes checking the availability of a desired business name to ensure it is not already in use or trademarked, helping clients avoid legal issues and ensuring compliance with local regulations.
Name Registration: This process entails officially registering the chosen business name with the appropriate government authorities, ensuring that the name is legally recognized and protected within the jurisdiction.
GST/HST/PST Registration: We assist businesses in registering for Goods and Services Tax (GST) and Harmonized Sales Tax (HST) with the Canada Revenue Agency (CRA), as well as Provincial Sales Tax (PST) where applicable. This ensures compliance with tax regulations, enabling businesses to collect and remit these taxes as required by law.
GST/HST/PST Return: This service includes preparing and filing the necessary tax returns for GST, HST, or PST, ensuring that businesses comply with tax regulations and deadlines while accurately reporting their sales tax collections.
CRA Reviews & Appeals: We offer support and guidance during Canada Revenue Agency (CRA) reviews, assisting clients in preparing necessary documentation, responding to inquiries, and ensuring compliance while minimizing potential penalties
Bookkeeping for Self-Employed & T2125 Reporting:
We provide comprehensive bookkeeping services tailored for self-employed individuals, ensuring accurate tracking of income and expenses for tax reporting purposes. Our services include:
- Organizing Financial Records: Categorizing business transactions to maintain clear and accurate records.
- Expense Tracking: Identifying deductible expenses to maximize tax efficiency.
- Income Reconciliation: Ensuring all sources of income are properly recorded and reported.
- GST/HST/PST Compliance: Assisting with tax collection and remittance where applicable.
- T2125 Preparation: Compiling financial data for accurate reporting on the Statement of Business or Professional Activities (T2125) as required by the Canada Revenue Agency (CRA).
Our bookkeeping services help self-employed professionals stay organized, reduce tax liabilities, and meet CRA requirements with confidence.