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Welcome to OnTrack Accounting and Bookkeeping

In order to serve you better we’ve created a new website and blog. Visit us at www.accountingontrack.ca or follow us on Twitter @OnTrackTaxTalk for tips, discussions and money matters.

Bookkeeping in Mississauga

In order to serve you better, we’ve opened a second location in Mississauga providing Bookkeeping, Accounting, Payroll and Tax preparation services to clients in the Mississauga area.

OnTrack Accounting is an independent accounting and bookkeeping firm located in Mississauga, Ontario; Serving clients in various industries. With two locations to serve you ( Mississauga & Oakville); OnTrack Accounting provides reliable, friendly and affordable bookkeeping and accounting services to small and medium size businesses throughout Mississauga and the Greater Toronto Area.

OnTrack Accounting provides bookkeeping and accounting services, remotely; wherever your location is.

In order to serve you better, we’ve chosen to have two locations in the GTA:

Mississauga at: 1150 Eglinton Avenue East, Suite # 102, Mississauga, ON. L4W 2M6

Oakville at: 2020 Winston Park Drive, Suite # 100, Oakville, ON. L6H 6X7

At OnTrack Accounting we provide customized solutions individually tailored to meet your needs, we are committed to providing our clients in Mississauga superior and reliable bookkeeping and accounting services. Whether you are looking for a bookkeeper in Mississauga or an accountant in Mississauga. Please give us a call at 416.454.8812 and one of our dedicated professionals would be more than happy to discuss your business needs. We specialize in providing Bookkeeping, Accounting, Payroll and Tax preparation services in Mississauga, Oakville and most of the GTA. 

At OnTrack Accounting we provide customized solutions individually tailored to meet your needs, we are committed to providing our clients in Mississauga superior and reliable bookkeeping and accounting services. Whether you are looking for a bookkeeper in Mississauga or an accountant in Mississauga. Please give us a call at 416.454.8812 and one of our dedicated professionals would be more than happy to discuss your business needs. We specialize in providing Bookkeeping, Accounting, Payroll and Tax preparation services in Mississauga, Oakville and most of the GTA.

SALARY VS DIVIDENDS

The question which almost every small business owner who wants to save taxes ask. If you are a small business owner and you want to save takes, you need to understand the difference between dividends and salaries. 

TAX PLANNING

The Canada Revenue Agency (CRA) recognizes that you are entitled to arrange your affairs as provided for under the law to reduce your tax liability and to receive the benefits to which you are entitled. However, aggressively pushing the limits creates a risk of crossing the line, the line between acceptable tax planning and what is considered aggressive or abusive tax planning.

TAX IMPLICATIONS FOR NON-RESIDENTS

Investing in Canadian real property is becoming increasingly popular with non-resident investors. The Canadian tax consequences of investing in Canadian real property by a non-resident of Canada can be quite confusing. Since non-compliance with the Canadian income tax rules, particularly the withholding tax rules and the Goods and Services Tax (“GST”) rules, can result in significant penalties. Potential investors should be aware ofthese rules. For more information or if your require assistance please do not hesitate to contact us at 416.454.8812. We are professional accountants in Oakville and Mississauga serving clients in most of the GTA. We provide professional bookkeeping and accounting services in Mississauga, Oakville and Toronto.

RRSPS REGISTERED RETIREMENT SAVINGS PLANS

Maximizing your RRSPs effectiveness is considered to be one of the most powerful year-end tax planning techniques.

Registered Retirement Savings Plans (RRSPs) – Here is what you need to know in few words.

– The more you contribute to your RRSP the less taxes you pay (as long as you stay within your RRSP deduction limit)

– If you don’t have the money set aside for RRSPs; please call me, we will tailor a customized solution for you.

Please feel free to call us at 416.454.8812 or visit us at www.accountingontrack.com for a more personalized advice. Of course every individual’s tax situation is different and what works for one person does not necessarily work for everyone’s situation.

Registered Retirement Savings Plans (RRSP) – Tips and frequently asked questions.

RRSPS / MORTGAGES / TAXES

Paying down my mortgage, or contribute to my RRSP which comes first ??

I’m often asked this question, which should come first, paying down your mortgage, or contributing to your RRSP.  My best strategy is to do a bit of both: If you can afford it, make an RRSP contribution to generate a bigger tax refund; then invest that refund in your mortgage every year.

T2 Tax Return – Changes Affecting T2 Tax Returns

The Tax Season is upon us!  As your Corporate Tax Accountant in Oakville and Mississauga, I have summarized the 2016 Income Tax changes, which may affect our clients’ T2 Tax Return (T2 Corporation Income Tax Return) one way or another, depending on your own situation of course. Feel free to call us at 416.454.8812 or email at mina.hanna@accountingontrack.com if you have any questions.