Markham, Ontario
Accountant in Markham for Tech Companies and Professionals
Wealthy Wave Accounting prepares corporate tax returns, keeps the books and files HST and payroll for incorporated businesses in Markham, mostly software and IT companies, incorporated consultants, dental and medical practices, and family businesses that trade overseas. Our office is in Brampton, west along the 407, and most Markham clients work with us on Teams.
Markham · Served from Brampton · Teams across Ontario
How it works
Working with us from Markham, step by step.
Exactly what happens after you get in touch, starting with one 15-minute call.
- Today
Book 15 minutes
A free, no-obligation 15-minute call on Teams or at our office at 181 Queen St E, Brampton.
- The call
What the company does and who it bills
Your clients in Canada and abroad, how you pay yourself and any staff, and which filings are due next.
- First month
Your last year read closely
We go through the last T2, the HST returns and any foreign reporting forms, and list anything missing or at risk.
- All year
Year-end planned ahead
Owner pay, project records and money kept in the company are decided before the year closes, with the tax effect shown in writing.
- Your move
Ready when you are
Pick a 15-minute slot that suits you. We confirm the time and scope with you directly.
MARKHAM AND BRAMPTON
Why Markham owners work with a Brampton firm
Markham is known as one of the main technology centres in Canada. Software, chip design and IT services companies fill the office parks along Highway 404 and the 407, from Markham Centre out to Woodbine Avenue. Around them sit thousands of smaller companies: one-person IT consultancies billing a bank or an agency, dental and physiotherapy clinics, engineering and design practices, restaurants in Unionville and along Highway 7, and family businesses that import, wholesale or buy from suppliers in Asia.
Many of those businesses share one thing: money or family crosses a border. A software company invoices clients in the United States in US dollars. A consultant has a single client and works much like an employee. A trading company buys from a related company overseas. A family keeps savings or property abroad. Each of those adds a form or a test that a purely local business never meets, and the penalty for a missed information return can apply even when no tax is owed.
Our office is at 181 Queen St E, Unit 5, in Brampton. By car it is usually 40 to 55 minutes along the 407, so most Markham clients never make the trip. Records come to us through a secure link and we meet on Teams at a time agreed in advance. If you would rather sit down in person, book a time at the Brampton office.
What we see most often
In Markham, the costly mistakes are usually on forms the owner did not know existed.
Four common problems, and what we do about each one.
- The problem
A consultancy with one client.
You incorporated to bill a single bank or tech company through an agency, and you work their hours on their equipment. If CRA decides the corporation is a personal services business, it loses the small business rate and most of its expenses.
The solutionThe contract read against the tests
We look at how the work is actually done, explain the risk in plain words, and show what would change with more clients or a different contract.
- The problem
Foreign reporting nobody mentioned.
Savings, shares or property held outside Canada, or purchases from a related company overseas, can bring in Forms T1135 or T106. Penalties for late or missing forms apply even when there is no tax to pay.
The solutionA yearly foreign reporting check
At every year-end we ask the same short list of questions about property, accounts and related companies outside Canada, and prepare the forms that apply.
- The problem
US dollar invoices booked at a guess.
Sales to US clients, a US dollar bank account and card spending in other currencies get converted a different way each month, so the profit and the HST return never tie to the bank.
The solutionOne method for foreign currency
We record US dollar sales and costs at a consistent exchange rate, track the gains and losses on the account, and check which sales are zero-rated before each HST return.
- The problem
Development work that is never claimed.
A small software team builds something new every quarter, but nobody keeps time records or project notes, and the deadline for a research tax credit claim passes 18 months after year-end.
The solutionProject records kept as you go
We set up a simple way to track hours and costs by project, so that if you make an SR&ED claim, the numbers are already in the books.
BY INDUSTRY
Who we help in Markham
Each link opens our full page for that industry or service. The same small team looks after Markham and Brampton clients.
IT consultants in Markham
Incorporated contractors billing through agencies: personal services business checks, HST and owner pay.
02Dentists in Markham
Dental professional corporations: owner and associate income, clinic payroll and year-end.
03Doctors in Markham
Incorporated physicians at Markham Stouffville Hospital and local clinics: a free tax and estate planning session first.
04Restaurants in Markham
Restaurants, bakeries and food businesses: daily sales, tips, payroll and HST.
05Realtors in Markham
Agents and teams in York Region: commission income, HST and personal real estate corporations.
06Holding companies and restructuring
For owners whose operating company now holds surplus cash, investments or the building.
07Sample CFO reports
Monthly reports and cash forecasts a growing company can show its bank or its investors.
WHAT WE HANDLE
One firm for the books and the tax
- Corporate tax return (T2) and year-end statements
- Bookkeeping in Canadian and US dollars
- GST/HST returns, including zero-rated export sales
- Payroll, remittances, T4s and Employer Health Tax
- Foreign reporting: Forms T1135 and T106
- Personal services business review for consultants
- Project records kept ready for an SR&ED claim
- Salary and dividend planning for you and your family
The exact work and fees are agreed in writing before work starts.
ANSWERS BEFORE YOU START
Common questions.
General information, not tax advice for your situation. Book 15 minutes to talk about yours.
Do you have an office in Markham?
No. Our only office is at 181 Queen St E, Unit 5, Brampton. Markham clients work with us on Teams and share records through a secure link, and you can visit the Brampton office by appointment.
I am an incorporated IT consultant with one client. Is that a problem?
It can be. If the corporation is treated as a personal services business, it pays tax at a much higher rate and can deduct very little. We read the contract and how the work is done, and tell you plainly where you stand.
Do I need to file Form T1135?
If you or your corporation held specified foreign property costing more than $100,000 in total at any time in the year, usually yes. Property for personal use, such as a vacation home, does not count. We ask at every year-end and prepare the form if it applies.
Can you handle our US dollar invoices and bank account?
Yes. The tax return is in Canadian dollars, so we record US dollar amounts at a consistent rate and reconcile the US account each time we bring the books up to date.
How are fees set?
After the first call we quote in writing, based on the work your company needs. Nothing starts until you agree.
A PRACTICAL NEXT STEP
Talk to us before
the deadline.
Share the service you need, your business type and any upcoming deadline. We’ll discuss the records, scope and next steps before work begins.