Question 1

What does a bookkeeper do compared with an accountant?

Accepted Answer

A bookkeeper handles your day-to-day records, bank reconciliations, and payroll tracking. An accountant usually focuses on tax strategy and year-end reporting. We build the clean, accurate records your accountant can rely on.

Question 2

I'm a small business owner in BC or Alberta. When should I hire a bookkeeper?

Accepted Answer

You should hire a bookkeeper the moment you start feeling overwhelmed by your finances. If you're spending evenings and weekends "doing the books" instead of growing your business, it's time. We help businesses in Calgary, Lethbridge, and across Southern Alberta get their time back.

Question 3

My books are a mess. Can Balancing the Books Taxes & Accounting Services help with cleanup?

Accepted Answer

Absolutely. "Cleanup" projects are one of our specialties. We've helped many business owners untangle months or even years of messy records. The team at Balancing the Books Taxes & Accounting Services will organize your past transactions, reconcile old accounts, and get you to a clean, stress-free starting point.

Question 4

Which bookkeeping software do you work with?

Accepted Answer

We work with major platforms like QuickBooks Online and Xero. If you already use one, we can work with it. If you want to switch, we can help you move to the best fit for your business.

Question 5

Why should you outsource your bookkeeping to us?

Accepted Answer

You save time and get clearer numbers. With 15+ years of experience, Brenda and Nadia give you accurate books, plain-English support, and proactive help so you can stay focused on your business.

Question 6

Can you take care of both your personal and corporate tax filings?

Accepted Answer

Yes!  We look after both personal and corporate filings!

Question 7

What is a GST/HST return, and can you file it for me?

Accepted Answer

A GST/HST return is a report you must file with the CRA to declare the sales tax you've collected and paid. Filing deadlines can be monthly, quarterly, or annually. The team at Balancing the Books Taxes & Accounting Services manages this entire process for you, ensuring your GST remittances are calculated accurately and filed on time.

Question 8

What's the deadline for filing corporate taxes in Canada?

Accepted Answer

Your corporate tax (T2) return is due six months after your fiscal year-end. However, your payment is typically due two months after your fiscal year-end. Balancing the Books Taxes & Accounting Services helps clients across Alberta and BC manage these separate deadlines so they never miss a payment or filing.

Question 9

I received a letter from the CRA. What should I do?

Accepted Answer

First, don't panic. Second, call us. As your official representative, Balancing the Books Taxes & Accounting Services can communicate with the CRA on your behalf. We understand their language and will work to resolve the inquiry, audit, or request for information efficiently.

Question 10

What business expenses can I deduct in BC or Alberta?

Accepted Answer

This is one of the most common questions! For businesses in Southern Alberta, common deductions include vehicle expenses (mileage logs are key!), home office expenses, tools, materials, subcontractor fees, and professional fees—like your services from Balancing the Books Taxes & Accounting Services. We ensure you claim every eligible deduction.

Question 11

What's involved in your payroll services?

Accepted Answer

Our payroll service is a comprehensive solution. Balancing the Books Taxes & Accounting Services handles calculating gross pay, statutory deductions (CPP & EI), vacation pay, and taxable benefits. We also manage the CRA remittances and issue all T4 slips at year-end.

Question 12

How do payroll remittances work?

Accepted Answer

After you pay your employees, you must remit the payroll deductions (employee's CPP/EI plus the employer's portion) to the CRA. Balancing the Books Taxes & Accounting Services handles these "source deductions" accurately, protecting you from the steep penalties and interest the CRA charges for late remittances.

Question 13

What is WCB Alberta, and do I need to report it?

Accepted Answer

WCB (Workers' Compensation Board) provides wage-loss benefits and medical coverage for employees injured on the job. In Alberta, most businesses with employees are required to have WCB coverage. Balancing the Books Taxes & Accounting Services can manage your WCB account, ensuring you report your payroll accurately and pay the correct premiums.

Question 14

What's the difference between an employee and a subcontractor?

Accepted Answer

This is a critical distinction, especially in trades. An employee is on your payroll (you deduct CPP, EI, and tax), while a subcontractor is an independent business you pay via invoice (with no deductions). Misclassifying an employee can lead to severe CRA penalties. We can help you determine the correct classification.

Question 15

Does Balancing the Books Taxes & Accounting Services prepare T4 and T5 slips?

Accepted Answer

Yes. At the end of the year, we prepare all necessary slips for your business. We issue T4s for your employees and T5s for any dividends paid out to shareholders.

Question 16

We are a construction company in the Calgary area. How can you help us?

Accepted Answer

Balancing the Books Taxes & Accounting Services has extensive experience with the trades and construction industry. We understand your specific challenges, such as job costing, managing subcontractor payments (and T5018s), and handling GST on large projects. We ensure your project financials are clear so you know which jobs are actually profitable.

Question 17

I'm a self-employed tradesperson. Can you help me?

Accepted Answer

Yes. We love working with sole proprietors. We help electricians, plumbers, and carpenters in Southern Alberta move from a "shoebox of receipts" to a clean digital system. We'll track your vehicle mileage, separate business from personal expenses, and handle your GST and income tax filings.

Question 18

Do you have experience with bookkeeping for farms or agriculture businesses?

Accepted Answer

Yes. Our team at Balancing the Books Taxes & Accounting Services understands the unique financial needs of the agricultural sector in Southern Alberta. We can help you manage inventory (like feed, seed, and livestock), track equipment depreciation, and navigate farm-specific programs and tax filings.

Question 19

What is a T5018 slip?

Accepted Answer

A T5018 slip is a form that businesses in the construction industry must file to report payments made to subcontractors for construction services. If you've paid a subcontractor $500 or more in a year, you must issue them one. Balancing the Books Taxes & Accounting Services manages this compliance requirement for all our construction clients.

Question 20

How do you get started with bookkeeping or tax support?

Accepted Answer

It starts with a free consultation. You can call us or send a message through the contact form, and we will talk through your business, your goals, and the help you need. Then we give you a clear quote.

Question 21

Do you work with clients outside Calgary?

Accepted Answer

Yes. We work with clients across Southern Alberta, BC, and throughout Canada. ALL of our services can be handled remotely, so you can get expert support wherever your business is based.

Question 22

Can you help executors with final tax returns and CRA clearance certificates?

Accepted Answer

Yes. We provide compassionate estate tax support for executors and families. We prepare final returns, help with estate filings, and guide you through the CRA clearance certificate process.

Question 23

Do you offer monthly bookkeeping services?

Accepted Answer

Yes. Monthly bookkeeping is one of our core services. We keep your records up to date, reconcile your accounts, track expenses, and give you clear reports so you always know where your business stands.

Question 24

How does your digital receipt management service work?

Accepted Answer

We help you move from paper piles to a simple digital system. You send receipts by email, app, or upload, and we organize and record them so your books stay clean, searchable, and CRA-ready.

Question 25

Do you handle GST and PST filings for BC businesses?

Accepted Answer

Yes. We file GST and PST returns for BC businesses and make sure the numbers are accurate, on time, and CRA-compliant. We also help you track input tax credits so you do not leave money on the table.

Question 26

Can you catch up bookkeeping for more than one year?

Accepted Answer

Yes. We do multi-year catch-up work all the time. If your books are behind, we will organize the records, reconcile the accounts, and get everything current so you can move forward with confidence.

Question 27

What should I bring to my free consultation?

Accepted Answer

Bring your latest tax returns, bookkeeping records, bank statements, payroll details if you have employees, and any CRA letters you have received. If you do not have everything, that is okay. We can still talk through your situation and tell you what comes next.

Question 28

How do you quote for bookkeeping and tax services?

Accepted Answer

We start with a free consultation and learn about your business, your records, and the support you need. Then we give you a clear quote based on the work involved. No guesswork.

Question 29

Can you help with rental income and capital gains on my personal tax return?

Accepted Answer

Yes. We handle personal returns with rental income, capital gains, and other complex items. We make the filing process clear and help you claim everything you can.

Frequently asked questions