Frequently Asked Question
Happy to Answer All Your Questions
Price: Our rates are competitive.
Convenience: Being on the cloud, we can service local and national customers
Customer service: We are friendly, knowledgeable, and quick to respond. We are here to take care of you
Reputation: We have an excellent reputation. Please ask us for references, and check what our customers say about M7 Group.
While bookkeepers record the financial transactions of your business, accountants analyze the data and use it to generate reports and prepare financial reporting records, including tax returns, income statements and balance sheets.
Accounting involves creating the balance sheet, accruing for non-cash transactions and calculating the income taxes. At this stage, we make sure you get credit for all the deductions and write-offs you qualify for. We’ll also explain where all your cash went and how much equity you are building in the business, review your company’s financial results, plan for the future, and e-file all the tax returns, GST returns, T4 slips (wages), T5 slips (dividends) and T5018 slips.
We help individual, small business, or corporation owners who are incorporated. We specialize in bookkeeping and accounting for truck drivers, construction industry, restaurant owners, wholesalers, startups and entrepeneurs, contractors, small business owners, tradespeople and holding companies. We’re always available to answer your questions, big or small, and can recognize if there’s a tax advantage you’re missing out on.
It doesn’t mean we don’t have experience in it – it just means it’s not one of the more common industries we serve. And if you are in a completely new industry to us, even better! We’re curious folks by nature and love a challenge.
Everything, really. As your small business partner, we support you by doing your bookkeeping, deductions, write-offs, expenses, tax returns, GST filing and more. We can help you with tax planning too.
We’re true small, medium and large business experts who understand the unique challenges related to being a business owner. We do everything possible to streamline the process and make running a business as easy and stress-free as possible. Need more convincing? Here are some other benefits of working with M7 Group:
- A customized calendar of important dates and payments
- Automated tax and GST instalment payments through your online banking
- A customized document request list using terms that you understand
- Reminder notifications to keep you on schedule
- Options when it comes to communication and file sharing – in-person, Dropbox or email
- Efficient technology and software
- One price with zero surprises
YES! Today the IRS automatically scans each return twice (once at the local office and once again at the regional office) for missing income that gets reported to them such as W-2’s and 1099 Forms, which include interest, dividends, rents, royalties, and independent contractor earnings.
Accountants prepare your tax returns based on the information you provide, and your accountant does not know things about you unless you tell them. The accountant will have a director of the corporation sign a management representation letter prior to filing the corporate tax return. By signing this letter, the director agrees that there’s nothing in the financial statements that they know to be false or misleading. When reviewing a tax return with you, we answer any questions you have and explain the returns in as much detail as you need. If a mistake is made on our end, we resolve it without any inconvenience to you.
