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At Tax Filings Canada, we handle every part of your historical bookkeeping, from the filing itself to the planning around it. Our accountants work with corporations and business owners every week, so you can focus on running and growing your business.
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Stay compliant and optimize your financial processes with our specialized historical bookkeeping services.
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Tax Filings Canada provides cheap, fixed-fee historical bookkeeping across Canada: monthly reconciliations, GST/HST-ready ledgers and receipt capture, built for owner-managed businesses and growing teams, with payment only after your work is complete.
Upload, email, or drop off your paperwork — whichever you prefer.
Behind the scenes, we assemble and double-check your historical bookkeeping filing.
Nothing is filed until you have seen it, understood it, and approved it.
We take care of the submission and send you confirmation for your records.
| Factor | Tax Filings Canada | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Payment | Pay after service | Upfront retainer |
| Price match | Yes, on written quotes | Rarely |
| CRA audit support | Included | Billed extra |
| Typical turnaround | 3-5 business days | 2-4 weeks |
Monthly reconciliation is what keeps input tax credits claimable — unmatched receipts are the first thing disallowed in a GST/HST review. Because the fee is fixed and cheap, the economics stay predictable whether your file is simple or messy.
Most write-ups of historical bookkeeping describe the form. These notes describe the file — what an accounting firm checks first and why.
Ask any accounting firm where historical bookkeeping files go sideways, and the answer usually traces back to this: Inventory is valued at the lower of cost and net realisable value, applied consistently. Changing method without CRA consent reopens prior years. Obsolete stock carried at cost overstates income, and the write-down is usually taken years after it was justified.
The next point is the one an accounting firm checks before quoting any timeline: An expense is deductible where it was incurred to earn income and is reasonable in the circumstances. The business-use portion must be supported, which for vehicles means a logbook. The CRA rarely argues that an expense category is wrong; it argues that the proportion claimed was never substantiated. Then there is the matter of timing, which forgives very little: The CRA requires business records to be kept for six years from the end of the tax year they relate to, in a form that allows the return to be verified. Where records cannot support the return, the CRA is entitled to assess on its own estimate — and the burden of disproving that estimate falls on the taxpayer.
Reading rules is one thing; knowing which of them your file actually triggers is another. An accountant closes that gap, and for historical bookkeeping the gap is often wider than it looks. Here is what to have on hand so the historical bookkeeping work starts moving on day one.
Whatever the file involves, the terms do not change: fixed fee agreed up front, review together before filing, payment after the service.
Providing transparent fixed pricing and high-quality Accounting Firm compliance for your historical bookkeeping requirements.
Coverage: Standard bookkeeping and historical bookkeeping preparation.
Ideal for early-stage startups and sole proprietors.
Book NowCoverage: Full-service bookkeeping, filings, and CRA compliance support.
Perfect for established small businesses.
Book NowCoverage: Strategic advisory and fractional CFO integration.
Ideal for companies seeking high-growth financial structuring.
Book NowWhy you should partner with Tax Filings Canada Experts for all your historical bookkeeping needs?
Providing tailored historical bookkeeping services to ensure compliance and maximize deductions.
Our certified accountants protect your business with complete federal and provincial tax compliance.
A dedicated team that handles your financials quickly, accurately, and without upfront fees.
Dedicated preparation processes customized for Canadian businesses.
Advanced accounting software integrations with QuickBooks, Xero, and wave accounting.
Customized packages designed to grow as your business operations expand.
Our clear four-step workflow ensuring absolute tax optimization and complete CRA compliance.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
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See how our expert Historical Bookkeeping tax and accounting services have helped Canadian businesses save money and stay compliant.
5 years of filings at a home-renovation contractor in Kitchener, Ontario had never claimed the incentives the work qualified for. The review recovered $52,000.
A two-location cafe in London, Ontario was under review over meals and entertainment coded at full cost with the input tax credit claimed on the whole amount. The file closed in 3 weeks with $38,500 of proposed tax cleared.
Scaling exposed a payroll clearing account that had never been brought to zero, carrying a balance nobody could explain at a residential cleaning franchise in Hamilton, Ontario. The back office was rebuilt to match, freeing $71,000.
A food-truck operator running two seasonal units in Mississauga, Ontario was filing correctly and still overpaying because of eighteen months of unreconciled transactions and a shoebox of receipts. Restructuring the position cut $31,000 from the annual bill.
Remittances at an owner-operated trades business in Lethbridge, Alberta were chronically late because of input tax credits claimed on receipts that had already been claimed once. Fixing the schedule refunded $144,000.
The ledger at an equipment rental yard in Moncton, New Brunswick could not support its own filings because of a bookkeeping file where owner draws, payroll and supplier payments all landed in the same account. Rebuilding it surfaced $16,000 in unclaimed input tax.
Meet the specialists behind your Historical Bookkeeping filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
CA (ICAI), CA (MIA), CPA Canada (In-Depth Tax Program)
Canada Tax, International Tax, Cross Border Tax, Transfer Pricing
International Tax, Transfer Pricing Specialist
CA (ICAI), Canada Tax Expert
CA. Fractional CFO and Senior Advisory Specialist
Same fixed fees in every province. Find your city or your sector.
Direct answers to what Canadian business owners actually ask before hiring an accountant.
Historical Bookkeeping starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you pay only after you have reviewed and approved the deliverable. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the free 15-minute call.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit representation works.
Yes. Late filing penalties compound at 5% of the balance owing plus 1% per month, so the cost of waiting is real. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We are a cloud-based practice serving every province and territory, so your location does not change the price or the service. Browse our coverage across Canada to find your city.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and CRA scrutiny patterns. See all industries we serve.
Software applies the rules you already know about. An experienced tax accountant finds the ones you do not: capital cost allowance timing, the small business deduction threshold, shareholder loan repayment rules, and TOSI exposure on family dividends. The fee is usually smaller than the deductions it surfaces.
Our historical bookkeeping services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by booking a free 15-minute call. We will review your files, provide a fixed quote, and start working immediately.
The honest answer comes down to one rule. An input tax credit is only claimable where the supporting invoice carries the supplier’s GST/HST number — above $150 the invoice also needs the recipient’s name and a description of the supply. That is the part we verify before anything is filed.
Our answer starts where the legislation starts. Bank feeds are not a bookkeeping system. Auto-categorised transactions still need reconciliation to statements, because a duplicated feed entry is indistinguishable from a real expense on the face of the ledger. From there it is a matter of applying it to your year — and that application, not the rule itself, is where a tax consultant earns the fee.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
Divide the total by one plus the tax rate expressed as a decimal. That gives the amount before tax, and subtracting it from the total leaves the tax portion. Going the other direction, multiply the pre-tax amount by the rate to get the tax and add the two together. Use the combined rate for the province of supply, and avoid rounding at each step so the tax you report matches the figures on your invoices.
No. Revenue is income you have earned and belongs on the income statement, not among liabilities. Money taken before you deliver the goods or service is different: unearned or deferred revenue is a liability until you perform the work. Sales tax you collect is also a liability rather than revenue. Booking customer deposits straight to sales is a common error that overstates profit and distorts the figures on your GST/HST return.
No. GST/HST you collect is not revenue: you hold it on the CRA's behalf and remit it. Report sales net of the tax on your T2125 or corporate financial statements, and post the tax collected to a liability account rather than income. Including it overstates both revenue and profit. If you are not registered and charge no tax, gross sales are simply the amounts you billed your customers.
Yes, where the underlying expense is deductible for the business. A tip on a client meal follows the meals and entertainment rule, so only a portion of the total, tip included, is deductible. A tip on a deductible taxi, delivery or hotel charge is deductible in full as part of that cost. Keep the receipt showing the amount and note the business purpose, since cash tips with no record are the first thing a reviewer removes.
Yes. The full federal basic personal amount of $16,452 is available for 2026 while net income stays at or below $181,440. Above that it is reduced gradually, reaching a floor of $14,829 once net income reaches $258,482, where the top federal bracket begins. So high earners still receive a basic amount, just the smaller one, and the reduction is a straight-line taper rather than a cliff. Both figures are indexed each year, and the phase-out is measured on net income.
Often no federal income tax at all. For 2026 the federal basic personal amount is $16,452, and each province sets its own, so income below those amounts attracts no income tax. CPP and EI are still withheld on employment earnings. Filing still matters at low income: the GST/HST credit, the Canada workers benefit, the Canada child benefit and provincial top-ups are all paid from an assessed return, so skipping it costs money.
No. Insurance premiums are an exempt financial service, so no GST/HST appears on them and there is no input tax credit to claim. Provinces levy their own taxes on certain premiums, and Ontario applies retail sales tax to some group benefit and insurance premiums, which is why an invoice can still show a tax line. The premium itself stays deductible as a business expense where the coverage relates to earning income.
You cannot write off the income itself, but you deduct the costs of earning it. Common current expenses are mortgage interest (not principal), property tax, insurance, utilities you pay, condo fees, advertising, property management, and repairs that maintain the property. Improvements that better the property are capital and depreciated instead. Only the rented portion counts where you also live there. Keep invoices for six years from the end of the tax year they relate to.
All of it. Tips are fully taxable, so there is no percentage a server is allowed to declare instead of the full amount, whether it arrived by card, in cash, or through a tip pool. There is no special rate either: tips are added to your other income and taxed at your marginal rate. Controlled tips paid out by the employer appear on your T4; direct and pooled tips usually do not, so keep a daily record.
Yes. Admissions to concerts, festivals and sporting events are taxable, charged at the rate for the province where the event takes place, so a Toronto show carries 13% HST and a Vancouver show 5% GST. Service, facility and delivery fees added by the ticket seller are taxable on the same basis. A small number of admissions run by charities or public institutions can be exempt, so check the organiser's terms if no tax appears.
Casual sales of your own used belongings are not income. But if you buy in order to resell, or sell repeatedly with a profit motive, that is business income reported on a T2125, and platform and auction sales are included. A gain on a valuable personal item can be a taxable capital gain. Streaming, PayPal and similar receipts are business income in Canadian dollars and count towards the $30,000 GST/HST small-supplier threshold, which is unchanged for 2026. Personal cash-back rewards are generally not taxable.
Reviewed and fact-checked by Udit Gupta
Ex Big 4 — Ernst & Young, Deloitte · International & cross-border tax specialist · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta has over 15 years of experience helping corporations and business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. Big 4 trained at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia, he founded his accounting practice in 2014 to serve entrepreneurs, startups and non-resident business owners across Canada. View full member bio.
The Institute of Chartered Accountants of India — member 521458 · Malaysian Institute of Accountants — member CA 44667 · Ex Big 4: Ernst & Young, Deloitte · CPA Canada (In-Depth Tax Program), completed 19 Dec 2023 · In-Depth GST/HST Part I, 12 Jul 2022 · Part II, 5 Jul 2023
Editorial policy. Every page is researched against primary sources — the Income Tax Act, CRA publications and CPA Canada guidance — and every rate or threshold is stated with the tax year it applies to.
