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 understand your own personal goals and tax situation and some of our CPAs have more than 20 years of public practice experience.
People tend to think of accountants as numbers people, but at Magistral Books, we do more than just figure the numbers.
We can communicate what the numbers mean and provide useful information for your business.
Beyond simply preparing tax forms, we can be involved in:
-Helping you install and set up or review your set of books
-Business planning throughout the year
-Ensure books and records are in order
-Analyzing your tax situation
-Helping you saving money
-Avoid potential trouble with the Canada Revenue Agency (CRA)
Our team is experienced, reliable and has expertise and professionalism.
Our firm is licensed by CPA Canada, authorized to file taxes and has a good history with the Canada Revenue Agency.
We understand your own personal goals and tax situation and some of our CPAs have more than 20 years of public practice experience.
People tend to think of accountants as numbers people, but at Magistral Books, we do more than just figure the numbers.
We can communicate what the numbers mean and provide useful information for your business.
Beyond simply preparing tax forms, we can be involved in:
-Helping you install and set up or review your set of books
-Business planning throughout the year
-Ensure books and records are in order
-Analyzing your tax situation
-Helping you saving money
-Avoid potential trouble with the Canada Revenue Agency (CRA)
Our team is experienced, reliable and has expertise and professionalism.
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 and/or your business finances and give you relevant advice. Usually, CPAs help with tax preparation, auditing, retirement planning, estate planning, bookkeeping, payroll management, investment management, business planning, business analysis, and business financing.
We only work with individuals and companies who are willing to work with us using online tools.
We thus only work with clients who are comfortable with the cloud approach.
We thus only work with clients who are comfortable with the cloud approach.
Yes, we do.
Contact us by phone, email or live chat and we will 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
-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
For bookkeeping services, you will simply pay the fixed fee based on the plan you have chosen.
For other services, final pricing will depend on the complexity of your case and your business needs. Every client has a unique situation, therefore unique pricing.
You can however have a look at our pricing page to get an idea. Basis of our fee is usually discussed in advance so you always know approximately what you will be paying.
Magistral Books is risk free. No long term contracts. No termination fees.
Magistral Books is risk free. No long term contracts. No termination fees.
-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 we do, 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.