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Accountant for Tax Preparation in Mississauga Area

Accountant explains tax preparation for your small business

Posted By: | Published On: | Tax Preparation and Planning
Accountant for Tax Preparation in Mississauga Area

If you have a small business, it’s important to understand how Canadian income taxes are prepared and filed. Knowing what business expenses qualify as deductions and how to maximize those deductions can help you be successful. Fortunately, the team at Miranda Professional Corporation in Mississauga, Ontario, is here to help.  

Income taxes for small business

How your business is structured (sole proprietorship, partnership, or incorporated) will dictate the tax return you need to complete. Business income is reported on a T1 personal income tax form for a sole proprietorship or partnership. If your operation is incorporated, you’ll report income on a T2 corporate income tax return.  

What business expenses qualify as legitimate tax deductions

It’s essential to understand what business expenses qualify as income tax deductions so that you can bring all the correct paperwork with you to your accountant. Here are some things you can do to help make the process easier: 

  • File all your receipts that are related to your business. 
  • Know the rules around travel-related and business vehicle expenses.
  • Check the Canada Revenue Agency website if you have any questions regarding the rules around a specific expense. 

Home-based business tax deductions

There are certain advantages to having a home-based business, including expenses related to homeownership and maintenance. Your accountant will be able to assist you with what home-based business tax deductions you qualify for. 

Using an accountant for your small business tax return

There are many benefits to using a qualified accountant to prepare your income tax return. Not only can you save time and potentially save money, but it can also assure you of accuracy. An accountant has the proper knowledge and experience to help you maximize your return and ensure everything is done as efficiently as possible. 

Call Miranda Professional Corporation today for your small business accounting needs

Not only can our team help you with your tax return, but we can also help you to properly manage your records throughout the year to help your business run smoothly and reduce the headache that can often occur at tax time. If you live in the Mississauga, ON area and would like to know more about our services, please call us today at +1 855-839-4969.

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Joseph M. Miranda, B.Comm, CPA, CMA

Joseph M. Miranda, B.Comm, CPA, CMA

Miranda Professional Corporation

Miranda Professional Corporation is committed to finding efficient and innovative solutions for all your business requirements. With over three decades of expertise in the field, they are knowledgeable in accounting, bookkeeping, taxation and managing businesses for small and medium enterprises in the Greater Toronto area.

Joseph Miranda is a qualified charted accountant and a certified management accountant with a bachelor's degree in commerce from the University of Toronto. After gaining expertise in the accounting field he advanced his passion by obtaining knowledge on information systems and developing a software application to create more efficiency in financial reporting functions.

The entire staff at Miranda Professional Corporation carries the same passion for helping people obtain the best means to manage their business and personal affairs by providing accurate knowledge to support their financial decisions.

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What our clients say
Chris's review of Miranda Professional Corporation, Mississauga ON
Joe and his associates at Miranda are thorough and efficient. Joe always welcomes us with a smile and takes the time to meet with us and discuss our personal taxes. He was instrumental in ensuring my elderly mom received all the tax credits in which she was entitled. Highly recommend. Thank you, Joe!
Lisa Dalbello's review of Miranda Professional Corporation, Mississauga ON
My amazing bookkeeping and accounting firm of 22 years headed by Laura Panacci retired. And she recommended the Miranda Professional Corp.led by Joe Miranda. Well, Joe has pulled me through and over the finish line. And he did it with class, calm & collectiveness. And a mountain high of professionalism and expertise. My gratitude runneth over to Joe and to his team for their dedication and their hard work, personal attention and professionalism.
Michelle Finnamore's review of Miranda Professional Corporation, Mississauga ON
Thank you!
My bookkeeping/accounting firm had retired so we were referred to Miranda Professional Corp. to take over our books. The transition was smooth, the follow up on any questions has been timely and end of year meetings have provided clear direction for the next year. Very happy with the services provided at all times with the firm. If you are thinking of working with Miranda do so with confidence that your accounts will be handled by one of the best I have worked with.
AMDI Group Ltd's review of Miranda Professional Corporation, Mississauga ON
Miranda Accounting provided us with invaluable support and advise in establishing a sound financial reporting for our year end. They are a professional and trustworthy firm. They prepared everything in a timely fashion and provided valuable advise moving forward. We are very happy with the customer services that has been provided to AMDI GROUP. I would have no hesitation in recommending Miranda Accounting to other businesses.
Louie Sebestiano - Owner/President (Gem-Tec-Group-Inc)'s review of Miranda Professional Corporation, Mississauga ON
My company has been a client with Miranda Corporation since 2012 and I have had nothing but exceptional service.

Miranda accounts are very professional, knowledgeable, prompt and organized. I have worked closely with Joe Miranda and found him to be extremely helpful with all financial aspects of my business.

I would highly recommend Miranda Professional Corporation to all businesses looking to manage their accounting needs.
Joanne Enser - President (The Lord Chancellor Pub Corporation)'s review of Miranda Professional Corporation, Mississauga ON
I highly recommend Miranda Accounting for all your bookkeeping needs. A couple of years ago, I found myself in a difficult situation with my business due to illness. Joe Miranda was recommended by a close friend. He came to my home and was able to restore order to my books.

Looking back, I realize I would not have been able to do this huge job on my own. I am very grateful for Joe and his team's great work ethic. They are very thorough and I am able to focus on other things.

They do an amazing job at an excellent rate. I do not know how I could manage without them!

If you need an accounting service, do yourself a favour and hire Miranda Accounting. You will be very happy for what you did.
Oscar Torres, CPA, CA, LPA - Principal (Bateman MacKay LLP)'s review of Miranda Professional Corporation, Mississauga ON
Joe is one of my trusted business partners. He truly understands the needs of Public Accountants and business owners and is able to deliver a flawless set of books and working papers every time.
Mitra Goodarzi's review of Miranda Professional Corporation, Mississauga ON
I had a pleasant opportunity to work with Mr. Joseph Miranda for several years. During those years Mr. Miranda showed his hardworking and sincere personality with a great work ethic.

Joe always took the initiative to handle critical duties. I was quite impressed by Joe's ability to complete all work in a timely manner. His fact checking is always accurate. His bookkeeping is clear, concise, and evocative.

Overall, Joe is a very reliable and devoted accountant and I certainly believe he did a wonderful job for my company and as a result I was able to sell my business at a greater value.

Personally, I highly recommend Miranda's accounting services.
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