Toronto, Ontario
Accountant in Toronto for Incorporated Businesses
Wealthy Wave Accounting handles corporate tax returns, bookkeeping, HST and owner pay planning for incorporated businesses and professionals in Toronto. Our office is in Brampton, and Toronto owners can work with us entirely on Teams, so you never lose an afternoon to traffic on the 401.
Toronto · Served from Brampton · Teams across Ontario
How it works
Working with us from Toronto, 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
Your corporation in plain words
What you do, how you pay yourself, what you own through the company, and what is due next.
- First month
A clean starting point
We read your last T2 and notice of assessment and list anything that needs fixing before the next filing.
- All year
Questions answered before you act
Buying property, hiring, taking money out: ask us first and we show you the tax effect 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.
TORONTO AND BRAMPTON
Why Toronto owners use an accountant outside downtown
Toronto has no shortage of accounting firms, so the fair question is why a Toronto owner would pick one based in Brampton. The answer is access. You deal with the same small team every time, you can book a 15-minute call without a gatekeeper, and the work happens on Teams and through secure file sharing. If you do want to meet in person, our office at 181 Queen St E is about a 15-minute walk from Brampton GO, on the Kitchener line that runs into Union Station.
Toronto businesses looking for a tax accountant tend to fall into a few groups. Professionals with their own corporations: physicians at the downtown hospitals, lawyers, and consultants working for banks and head offices in the Financial District. Tech and software companies, often small teams doing development work that may qualify for research credits. Restaurants and cafés dealing with delivery apps and tips. And owners who hold Toronto property inside a corporation.
Each group has its own tax questions, and Toronto adds a few local ones of its own. The city charges a municipal land transfer tax on top of Ontario's, so buying property through a corporation costs more here than almost anywhere else in the province. Residential owners must also file a Vacant Home Tax declaration with the city every year, even when the home is occupied. Neither of those sits on the CRA calendar, which is why they get missed.
What we see most often
In Toronto, the costly mistakes usually happen before anyone calls the accountant.
Four common problems, and what we do about each one.
- The problem
A property is bought in the wrong name.
Whether a Toronto condo or commercial unit is held personally or through your corporation changes the land transfer tax, how rent is taxed, and what happens when you sell. It is hard to undo once the deal closes.
The solutionA talk before you sign
We set out what each option means for tax before you buy, so the decision is made with the numbers in front of you.
- The problem
Research credits are left on the table.
Software and product companies often do work that could qualify for SR&ED, but the claim has a firm deadline of 18 months after year-end, and the records have to exist from the time the work was done.
The solutionRecords kept as you go
We flag the deadline at year-end and keep project costs separate in the books, so a claim can be prepared on time if the work qualifies.
- The problem
Dividends paid to family members.
Paying dividends to a spouse or adult children who are not active in the business can fall under the tax on split income rules, which taxes that income at the top rate.
The solutionOwner pay planned each year
We look at who works in the business and plan salary and dividends for you and your family within the rules.
- The problem
The Vacant Home Tax declaration slips.
Toronto requires a declaration for every residential property each year. Miss it and the city can treat the home as vacant and send a tax bill, even if someone lives there.
The solutionCity dates on the same list
If your company owns a Toronto home, we put the city declaration on the same calendar as your T2 and HST dates and remind you before it is due.
BY INDUSTRY
Industries we help in Toronto
Each link opens our page for that industry. Toronto clients work with the same small team as everyone else.
Doctors in Toronto
Incorporated physicians at Toronto hospitals and clinics: start with a free tax and estate planning session.
02IT consultants in Toronto
Contractors working for banks and head offices downtown: personal services business review, HST and owner pay.
03Law firms in Toronto
Lawyers and small firms: trust accounting records, HST and professional corporation planning.
04Restaurants in Toronto
Restaurants and cafés: delivery-app payouts, tips, payroll and food cost.
05Realtors in Toronto
Agents and teams: commission income, HST and personal real estate corporations.
06Dentists in Toronto
Dental practices: payroll, HST-exempt services and paying yourself from the practice.
07Contractors in Toronto
Renovation and construction firms: job costing, holdbacks, HST and T5018 slips.
WHAT WE HANDLE
One firm for the books and the tax
- Corporate tax return (T2) and year-end statements
- Salary and dividend planning for you and your family
- Bookkeeping, monthly or quarterly
- GST/HST registration and returns
- Payroll, remittances and T4s
- Tax effects of buying or holding property in a corporation
- Keeping records ready for an SR&ED claim
- Replies to CRA letters and reviews
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 Toronto?
Our office is at 181 Queen St E, Unit 5, Brampton. Toronto owners usually meet us on Teams. You can also visit by appointment; the office is about a 15-minute walk from Brampton GO.
Can you work with my existing bookkeeper?
Yes. Some clients keep their own bookkeeper and use us for the year-end, the T2 and planning. We agree who does what in writing.
Do you prepare SR&ED claims?
We keep the books in a way that supports a claim and flag the deadline. If your claim needs a specialist for the technical write-up, we tell you at the start.
My corporation owns a Toronto condo. What do you need?
The purchase documents, the lease if it is rented, the mortgage statements and the property tax bills. We use them for the T2 and to track the city declaration.
How are fees set?
After the first call we quote in writing, based on the work your business 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.