Frequently Asked Questions
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Getting started with Sansar Solutions
To get started with Sansar Solutions, you will need to fulfill the following requirements:
- Download all business bank and credit card statements electronically and save them as PDF files.
- Provide images of any cheques written or details of any e-transfers sent or received related to your business.
- Submit the prior year T2 corporate tax return and T1 personal tax return.
- Share access to any accounting platforms you’re using such as QBO, WAVE, XERO, etc. with the email address [email protected].
- Complete CRA authorization forms for both your business and personal accounts.
- Accept any necessary invitations to WhatsApp group communication.
By meeting these requirements, you can initiate the process of working with Sansar Solutions to handle your business accounting and tax filing needs efficiently and effectively.
When you file your taxes with Sansar Solutions, the following steps typically occur:
Review and Preparation: Sansar Solutions will review all the documents and information you’ve provided, ensuring accuracy and completeness. We will prepare your tax returns based on this information.
Submission: Once your tax returns are prepared, Sansar Solutions will electronically submit this to the Canada Revenue Agency (CRA) on your behalf.
Confirmation: After submission, you’ll receive confirmation that your tax returns have been successfully filed. This may come in the form of acknowledgment numbers or email notifications.
Assessment: The tax authorities will assess your tax returns to verify the accuracy of the information provided. If there are any discrepancies or if additional information is required, they may contact you directly.
Resolution of Issues: If there are any inquiries or issues raised by the tax authorities, Sansar Solutions will work to resolve them promptly. We communicate with the CRA on your behalf and provide any necessary documentation or clarification.
Finalization: Once any issues are resolved, your tax filings will be finalized. Sansar Solutions will notify you when this process is complete.
Post-Filing Support: Even after your tax returns are filed, Sansar Solutions will remain available to address any questions or concerns you may have regarding your taxes.
Overall, Sansar Solutions strives to ensure a smooth and hassle-free tax filing experience for our clients, handling all aspects of the process with professionalism and expertise.
Yes, Sansar Solutions can file both your personal taxes and business taxes. Our services cover a comprehensive range of tax-related needs, including individual tax returns (T1) and business tax returns (T2 for corporations in Canada).
Yes, free support is available during our regular business hours to assist you with your tax situation and concerns.
Yes, we offer both monthly and quarterly bookkeeping support services at Sansar Solutions. Whether you prefer regular monthly updates or less frequent quarterly check-ins, our team is flexible and can tailor our bookkeeping services to meet your specific business needs and preferences.
Our experienced professionals will ensure that your financial records are accurately maintained and up-to-date, providing you with valuable insights into your business’s financial health. With our bookkeeping support, you can focus on running your business confidently, knowing that your financial information is being managed effectively.
Bookkeeping and Accounting
Yes, you can submit unfiled business tax returns for previous years in Canada. It’s essential to catch up on any outstanding tax obligations to remain compliant with the Canada Revenue Agency (CRA). It’s advisable to consult with a tax professional or business accountant to ensure accurate and timely filings, as well as to address any potential penalties or interest that may apply to overdue returns.
A tax accountant is a professional who specializes in providing services related to tax preparation, planning, and compliance. These professionals are well-versed in tax laws and regulations, and they assist individuals, businesses, or organizations in preparing and filing tax returns.
No, you do not necessarily need a Certified Public Accountant (CPA) to file your business taxes. While a CPA can provide expertise and assurance in complex financial matters, many businesses, particularly smaller ones, use other qualified tax professionals or tax software to fulfill their tax filing requirements. It’s essential to ensure that whoever you choose to handle your business taxes is knowledgeable and experienced in tax matters to ensure accurate and compliant filings.
A virtual bookkeeper performs bookkeeping tasks remotely, leveraging digital tools and software to manage a business’s financial records. Their responsibilities include recording financial transactions, reconciling accounts, managing accounts payable and receivable, and generating financial reports. Additionally, virtual bookkeepers may assist with payroll processing, budgeting, and ensuring overall financial accuracy and compliance.
To file a late business tax return, gather financial documents, complete the appropriate tax forms, calculate taxes owed (including penalties), submit the return to the relevant tax authority, and pay any owed taxes and penalties. Communicate with tax authorities if needed and establish processes for future timely filings to ensure compliance.
Yes, we can file both your personal taxes and business taxes. This is all included in our pre-agreed rate for tax filings.
Tax Filing
Sansar Solutions supports a wide range of businesses, including sole proprietorships, partnerships, corporations, freelancers, and startups, across various industries and sectors.
Sansar Solutions can assist you with tax planning by analyzing your financial situation, identifying potential tax-saving opportunities, optimizing deductions and credits, and developing strategies to minimize your tax liabilities.
Outsourcing your accounting and tax needs to Sansar Solutions can save you time, reduce administrative burdens, ensure compliance with tax regulations, provide access to professional expertise, and allow you to focus on growing your business.
Yes, Sansar Solutions offers payroll services to help businesses manage their employee payroll processing, including calculating wages, withholding taxes, issuing paychecks or direct deposits, and filing payroll tax returns.
Yes, Sansar Solutions can assist with CRA audits or inquiries by representing you, gathering necessary documentation, responding to audit requests, and resolving any issues or discrepancies with the tax authorities on your behalf.
Yes, we can file both your personal taxes and business taxes. This is all included in our pre-agreed rate for tax filings.
About
Sansar Solutions has been providing exceptional accounting and tax services since 2015. Our extensive experience in the industry has enabled us to refine our processes, build strong client relationships, and establish ourselves as a trusted partner in for filing Canadian business taxes.
Our team of skilled bookkeepers is strategically located across various regions to ensure accessibility and flexibility for our clients. Each member of our team is highly qualified, possessing expertise in accounting, finance, and tax matters. They undergo rigorous training and hold relevant certifications to deliver top-notch service.
Sansar Solutions is owned by Gurdeep Sangha. As the founder and owner, Gurdeep oversees the operations and strategic direction of the company, ensuring a commitment to excellence in providing accounting and tax services to our clients.
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