Rajesh Kumar Sharma CPA Professional Corporation
Leading provider - Income Tax | Accounting | Business Advisory
Tax and Accounting Services You can Trust
Real Accounting Services for You
We excel in offering comprehensive business consulting and advisory services tailored to cater to diverse small and medium-sized enterprises, trusts, estates, and individuals, addressing their automated and manual accounting needs. Our firm’s modest size ensures that you benefit from personalized attention that is unique to our scale, allowing us to prioritize and meet your specific requirements with a dedicated focus.
Accounting and Bookkeeping
We specialize in managing the financial accounts of newly established businesses, ensuring that the money is not drained. Managing finances poses a significant challenge for new businesses, especially when they have several other responsibilities demanding
Payroll Services
Managing payroll can often present a significant challenge for small business owners, particularly when there are so many other important things to deal with and other business responsibilities demanding their attention.
Corporate Tax
We specialize in offering comprehensive tax services tailored to businesses of varying sizes. Whether you operate a home-based small business in Ontario or a corporation spanning multiple provinces across Canada, our expertise is dedicated to assisting you in maintaining full compliance
Individual Tax
We specialize in personal tax services catering to a wide range of complexities, adeptly managing both from simple to complex tax situations.
Estate and Tax Planning
We extend comprehensive services in Estate and Tax Planning, tailored to meet the unique needs and aspirations of our clients. Our dedicated team specializes in crafting strategic plans that optimize tax efficiency while safeguarding and enhancing your estate for future generations.
CRA Appeals & Notice of Objections
We extend comprehensive services in Estate and Tax Planning, tailored to meet the unique needs and aspirations of our clients. Our dedicated team specializes in crafting strategic plans that optimize tax efficiency while safeguarding and enhancing your estate for future generations.
Business Advisory
Business advisory services involve providing strategic guidance and specialized expertise to businesses. These services encompass a range of support, including financial analysis, operational improvement, growth strategies, risk management, and overall business optimization.
Virtual CFO Services
Discover the benefits of our Virtual CFO Services—a flexible and cost-effective solution providing expert financial guidance without the commitment of a full-time CFO. Our team offers strategic financial advice, budget planning, cash flow management, and more on a part-time basis.
Restaurant I Franchise
Our accounting services are tailored specifically for the restaurant and franchise industries. We provide meticulous financial management, including bookkeeping, payroll, tax compliance, and financial analysis, uniquely crafted to meet the needs of restaurants and franchise businesses.
HST Rebate
Our accounting services include expert assistance with HST rebate claims. The GST/HST system provides an HST rebate designed to recover amounts paid in error or to offer targeted relief to taxpayers, such as the HST New Home Rebate.
SR&ED Consulting
Our accounting services include specialized assistance for SR&ED consulting. We provide comprehensive support in navigating the complexities of SR&ED tax credits, aiding in claim preparation, documentation, and compliance.
Sale and Purchase of Business
Our accounting services cover the intricate financial aspects involved in both selling and acquiring businesses. Whether you're selling your business or considering a purchase, we provide comprehensive support.
Small Business Loans
Our accounting services cater to small businesses seeking loans by providing comprehensive financial guidance. We assist in preparing financial statements, organizing documents, and ensuring financial compliance to increase the likelihood of loan approval.
Business Startup and Business Incorporation
A successful journey begins with a good start. Start with us, and we'll guide you to a successful finish. We specialize in tailoring business structures to suit individual needs based on factors like business type, income level, and risk exposure.
Our Company In Number
Years Experience
Happy Client
Consulting Projects
Your Financial Partner for Success
Assessing circumstances, formulating strategic solutions, and executing them with proficiency are integral components of our operational methodology. This is our professional commitment and the essence of our endeavors.
Cloud Tax Solutions is a certified accounting firm and leading consultancy offering innovative and strategic services to a diverse clientele across Ontario. Our core expertise lies in specialized areas such as tax planning, compliance, and financial consulting, with a particular focus on addressing the unique needs of medium-sized businesses and corporations.
Our dynamic team of experts performs with a high level of intensity, consistently dedicated to providing excellent and cost-effective solutions to our esteemed global clientele.
We approach each project with a well-established methodology that results in tailored solutions to address our clients’ most complex problems. Our definition of success is not determined by short-term results; rather, it is defined by the sustained and long-term success achieved by our clients.
Accounting With Integrity
Our team is committed to remaining forthright with our clients and ensuring that we do not use clients’ financial information for personal gain.
Experienced
Experienced professionals with deep knowledge of taxation and legal framework.
Focused
We remain focused on providing highest quality services to our clients.
Years Experience
FAQs
Usually, taxpayers have until April 30th to complete their tax filing 2023. If the deadlines falls on a Sunday, taxpayers will have until May 01, 2023 to file their 2022 tax return and same way tax payment is due April 30, 2023.
If you are self-employed, you’ll have a to file your taxes return until June 15, 2023 and tax payment is due April 30, 2023.
Corporate tax return must be filed within six months of a corporation’s taxation year end June 30, 2023 for a December 31, 2022 year end and corporate tax payment for CCPC due within 60 days from the date of year end February 28, 2023 for a December 31, 2022 Year end.
The penalty is equal to five per cent of whatever you owe on your 2022 taxes, plus an additional one per cent per month you're late after the filing deadline. In addition, the amount that you owe to the CRA begins to grow with compounding interest on the first day after the deadline.
Monthly and quarterly filers must file the return and payment one month after the end of the reporting period. Annual filers have until March 31 (Incorporation Companies) and until June 15 (Self-employed) of the year following the tax year for which the return is being filed.
The Canada Revenue Agency (CRA) charges interest if you make late or insufficient payments. Depending on the debt, the interest charged is either arrears interest or instalment interest. The CRA pays interest on an overpayment or refund of net tax claimed on a GST/HST return.
Generally, you can claim donation tax credit up to the limit of 75% of your net income for the year. Calculation of the donation tax credit at the federal level, you are credited 15% of the first $200 of donations and 29% of additional donations above the first $200. Provincial donation tax credits on the first $200 and amounts above the first $200 range between 4% to 25%.
You can claim $2 for each day you worked from home in 2020, 2021, or 2022 due to the COVID-19 pandemic. you can claim up to a maximum per year of $400 in 2020 and up to $500 in 2021 and 2022. your employer is not required to complete and sign Form T2200. you are not required to keep documents to support your claim.
As per CRA, every taxpayer has to file personal tax return every year regardless of income.
The cost of our services depends on your specific requirements and the complexity of the work involved. For instance, if you have multiple slips, multiple rental properties, and dividend income from a limited business, our fees will be determined based on these factors.
Send Us a Message
Get In Touch!
We would love to hear from you.
Call Us
416.708.5881
Email Us
Rajesh.sharmacpa@cloudtaxsolutions.com
Office Address
111 Ballantyne Boulevard, Vaughan Ontario, Canada L3L 0E8
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Services
- Accounting and Bookkeeping
- Payroll Services
- Corporate Tax
- Individual Tax
- Estate and Tax Planning
- CRA Appeals & Notice of Objections
- Business Advisory
- Virtual CFO Services
- Restaurant | Franchise
- HST Rebate
- SR&ED Consulting
- Sale and Purchase of Business
- Small Business Loans
- Business Startup and Business Incorporation
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