Small Businesses

Williams, Payne & Associates satisfied clients include corporations, partnerships, sole proprietorships and non-profit organizations. Our more than 1,600 corporate and 7,000 personal clients represent a cross-section of the York Region and GTA business community.

At Williams, Payne & Associates, we know that a client’s tax needs go far beyond the compliance obligations of filing returns and paying taxes. At WPA, we proactively provide our clients with the corporate tax information they need to minimize their taxes, to keep up with the never-ending cycle of tax changes and to protect their businesses from tax penalties.

Williams, Payne & Associates offers a full range of corporate compliance services, including federal and provincial tax returns, Canadian treaty based returns, GST/HST returns, preparing and filing capital dividend elections and other tax elections, assisting with payroll source deductions, filing of T4s/T4A, other tax reporting slips and US tax services.

In the event that you do get on the wrong side of the Canada Revenue Agency, we are prepared to stand with you and guide you through any interactions that you may have with the CRA, whether that be reassessments, filing Notices of Objection, audits or voluntary disclosures.

It is difficult to think of business decisions today that don’t have tax implications. For many profitable corporations, corporate income taxes represent one of the largest expenses of the business. Finding strategies for minimizing these taxes can give a corporation a cost advantage over its competitors. In today’s tough business environment this could be the difference between truly competing and thriving, or just surviving.

Due to the changing tax and business environments, the corporate structures that once served the company well may no longer work. The tax professionals at Williams, Payne & Associates have the experience you need to help you plan for the evolution of your business, whether that is the incorporation of a proprietorship or partnership, the acquisition or sale of a business, or the restructuring of your corporation through mergers or wind-ups. We are here to provide you with the tax minimization structures your business needs.

Dentists
For a dentist to be successful, tax planning is just as important as practice management. A dental practice is one of the only entities that is restricted by the Health Professions Act yet can be sold. Accordingly, unless the appropriate structure is used, the professional may be subject to unnecessarily high tax rates throughout their career and on the sale of their practice.

Physicians
We pride ourselves in being experts in tax and accounting matters the affect physicians and surgeons. From determining when the right time is to incorporate, to helping you understanding the most tax efficient strategy for deferring tax and investing your retained earnings, we can assist you in any phase of your professional career. With professional corporations under scrutiny from the government, it is essential to engage a professional accountant, who is not only aware of new legislation, but is able to find strategies to adapt to the changing legislation.

Business Owners
For most business owners, tax exhausts working capital. Not only can we structure your affairs to defer tax, we can minimize and even mitigate tax using certain income splitting strategies. With an unpredictable tax environment, it is crucial to engage a professional accountant, who is not only aware of the changing legislation, but is also able to formulate strategies that can adapt.

Real Estate
Being in the know has its advantages, but in order to be successful, a sound strategy is paramount. You have already identified the opportunity, now let us help develop a strategy to maximize the capital you have to invest, so you can capitalize in the opportunity. Whether you are reinvesting profits from existing projects or require financing, we can ensure your taxes are minimized.

Professionals
Currently, the tax environment for professionals is less predictable than the weather. With the government focused on the taxation of professional corporations, it is now essential to engage a professional accountant, who is not only aware, but understands the dynamic nature of the legislation. We can help develop specific strategies, which can adapt to the changing legislation.

Executives
High income earners are now, more than ever, a target of the Canadian tax system with top rates in Ontario approaching 50%. As a result, whether you are on the road to advancing your career or planning for retirement, we can assist with developing a tax strategy to maximize your after-tax dollars.

New Business Advisor
We will personally advise you in choosing the right business structure and developing a sound business plan.

CRA Representation
Afraid of dealing with the CRA? No problem, we’ll take care of CRA and put your tax problems behind you.

Creative Tax Planning
We’ll use innovative CRA tax strategies to save you money for both your corporate and personal taxes.

CFO & Controller Services
Gain access to CFO financial expertise without hiring another employee.

Easy Financial Statements
Cashflow is King! We create easy to understand financial statements that will help you thrive.

Customized Accounting
Get a solid grip on your finances with trusted personalized accounting and bookkeeping services.