Frequently Asked Questions (FAQ)
FAQ
Magistral Books is a virtual CPA firm offering bookkeeping, payroll, taxes and financing services.
Our team of certified bookkeepers and CPAs is here to help you get accurate financial reports, be compliant with your tax filing requirements and help your company grow.
At Magistral Books, we really care about your success.
We will provide relevant and useful information for your business to grow.
Beyond simply preparing tax forms, we can:
-Ensure your books and records are in order
-Help you save money and increase profitability
-Make your organization more efficient
-Optimize your tax situation
-Avoid potential trouble with the Canada Revenue Agency (CRA)
Our team is experienced and reliable. We truly want the best for our clients.
Our firm is licensed by CPA Canada, authorized to file taxes and has a good history with the Canada Revenue Agency.
We will provide relevant and useful information for your business to grow.
Beyond simply preparing tax forms, we can:
-Ensure your books and records are in order
-Help you save money and increase profitability
-Make your organization more efficient
-Optimize your tax situation
-Avoid potential trouble with the Canada Revenue Agency (CRA)
Our team is experienced and reliable. We truly want the best for our clients.
Our firm is licensed by CPA Canada, authorized to file taxes and has a good history with the Canada Revenue Agency.
A CPA can help you better manage your finances and give you relevant advice. Usually, CPAs help with tax preparation, auditing, retirement planning, estate planning, bookkeeping, payroll management, investment management, and business financing.
We only serve clients who can work with us using online tools.
We do not meet clients in person and only use technology to communicate with our clients (Email, Phone, Webcam, Zoom, etc.).
We do not meet clients in person and only use technology to communicate with our clients (Email, Phone, Webcam, Zoom, etc.).
-Location Independence
-Money/Cost Savings
-Better Work-Life Balance
-Less Commute Stress
-Improved productivity
-Money/Cost Savings
-Better Work-Life Balance
-Less Commute Stress
-Improved productivity
Yes, we do.
Click on the "Sign Up" button or Contact us by email or live chat to schedule a Free consultation with a team member in order to learn more about you, your business and your unique needs.
If you agree to the terms, we will be able to start working on your business needs the same day.
1) We get to know you, your business and your needs.
There is no fee and this is a no commitment consultation.
2) We assess the current status of your records
3) We set up your accounting software and clean up your records if required
4) We provide you ongoing bookkeeping and complete any required tax filings
5) We give you relevant advice to help you grow your business
There is no fee and this is a no commitment consultation.
2) We assess the current status of your records
3) We set up your accounting software and clean up your records if required
4) We provide you ongoing bookkeeping and complete any required tax filings
5) We give you relevant advice to help you grow your business
For monthly packages, you will simply pay the fixed fee based on the plan you have chosen.
For other services, please check out our pricing page.
Although every client has a unique situation, our estimates are very accurate.
Our fee is always discussed in advance so you always know what you will be paying. No bad surprises. No hourly charges.
Magistral Books is risk free. No long term contracts. No termination fees.
For other services, please check out our pricing page.
Although every client has a unique situation, our estimates are very accurate.
Our fee is always discussed in advance so you always know what you will be paying. No bad surprises. No hourly charges.
Magistral Books is risk free. No long term contracts. No termination fees.
We collect a 50% deposit upfront, bill the remainder when the work is done before e-filing your return.
Pricing is typically based on complexity of the tax return to prepare. A simpler tax return to prepare will be less expensive than a complex one.
-The number of many months or years that need to be cleaned up
-The number of missing transactions that need to be added to the accounting system
-The size of the gap that exists between the bank and credit card account balances and your accounting statements
-The size of the gap that exists between your accounting records and your last filed tax return
-The size of the gap that exists between your payroll expenses and your filed payroll tax returns
-The number of missing transactions that need to be added to the accounting system
-The size of the gap that exists between the bank and credit card account balances and your accounting statements
-The size of the gap that exists between your accounting records and your last filed tax return
-The size of the gap that exists between your payroll expenses and your filed payroll tax returns
Yes, as long as your business is legal and licensed.
Your business must comply with local, provincial and federal law.
Your business must comply with local, provincial and federal law.
1) You can catch and fix any mistakes earlier
2) You are less likely to be audited by the Canada Revenue Agency
3) You get your refund sooner
2) You are less likely to be audited by the Canada Revenue Agency
3) You get your refund sooner
Ideally, you should save receipts for any costs that you plan to deduct from your annual taxable income.
It is a good idea to keep your receipts for charitable donations receipts, gas, taxi fare to business meetings, materials, client dinners, business necessities, etc.
It is a good idea to keep your receipts for charitable donations receipts, gas, taxi fare to business meetings, materials, client dinners, business necessities, etc.
Here are some options:
1) Take out a small loan from your bank
2) Use your credit card or line of credit
3) Negotiate with the Canada Revenue Agency (CRA) to pay in installments
1) Take out a small loan from your bank
2) Use your credit card or line of credit
3) Negotiate with the Canada Revenue Agency (CRA) to pay in installments
-Some vehicle expenses
-Equipment and tools directly related to your business
-Retirement contributions
-Cell phone expenses
-Health insurance premiums
-Home office expenses
-Etc.
-Equipment and tools directly related to your business
-Retirement contributions
-Cell phone expenses
-Health insurance premiums
-Home office expenses
-Etc.