Heighton Accounting & Tax Services
476 Peel Street, 3rd Floor N4S 1K1 Woodstock, ON, Canada

If you’ve done your taxes or bookkeeping and have the feeling something isn’t right, it may be time to seek a second opinion. Last year we found a total exceeding $100,000 in missed tax opportunities for our Clients. While this won’t be the case for everyone, we do offer a free consultation to look at your situation. If you have any questions, please contact Shane:... P: 519-761-0956 E: [email protected] See more

If you're looking to have your taxes done, we are offering electronic submission and pick up services of tax documents. Please contact Shane: P: 519-761-0956 E: [email protected]

Hi Everybody. Its been awhile, so just an update on our operations. For those looking to have their taxes done during these COVID times, we offer electronic submission, drop off and pick up services, and in-person appointments. For in-person appointments: Our office is kept clean and sanitized with hand sanitizer available for our Clients to use. We are currently appointment only.... Drop off and pick up services: You can schedule a time to drop off your paperwork and keep correspondence to phone and emails. If you are local, we are currently offering pick up services. Just reach out to us to schedule a time. Electronic submission: You can email us your tax documents and maximize social distancing. If you have any questions, please reach out to us: Call or text: 519.761.0956 Email: [email protected]

If youve done your taxes or bookkeeping and have the feeling something isnt right, it may be time to seek a second opinion. Last year we found a total exceeding $100,000 in missed tax opportunities for our Clients. While this wont be the case for everyone, we do offer a free consultation to look at your situation. If you have any questions, please contact Shane:... P: 519-761-0956 E: [email protected] See more

Due to COVID-19, the filing due date for Personal taxes is June 1, 2020 and payment due date for taxes owing is September 1, 2020

As an essential service, we are still open for business. However, our office is closed to the public. For those looking to have their taxes done: We are still offering quick turn-around times and accommodating Clients by arranging times for drop offs and pick ups. We also accept electronic submission of tax documents. For Clients who may need additional services or have questions, please dont hesitate to reach out to us:... P: 519-761-0956 E: [email protected]

If youre looking to have your taxes done, we are offering electronic submission and pick up services of tax documents. Please contact Shane: P: 519-761-0956 E: [email protected]

E-filing re-opens February 24th. We are welcoming new Clients this tax season. Contact us with any questions or to schedule an appointment:... P: 519.761.0961 E: [email protected]

With tax season approaching, the CRA scams will be out in full force. Be cautious.

Whatever you do, do it well. Do it so well that when people see you do it, they will want to come back and see you do it again, and they will want to bring others and show them how well you do what you do. -Walt Disney

This is our very own Isaac collaborating with Bob the Builder. Sometimes it takes teamwork to get the job done!

Big doors swing on small hinges.

A new year means a new tax year is around the corner. If you find yourself behind on your taxes or looking for some tax advice, we can help. Call: 519.761.0956... Email: [email protected] See more

Wishing everyone a safe and happy new year!

Are you a contractor? Are you losing money from poor scheduling and time tracking of employees while on job sites? We can fix that. Contact us for a free consultation to see what solutions we can offer your business:... Call or text: 519.761.0956 Email: [email protected]

Tax season is just around the corner. Are you ready?

Merry ChristmasMerry Christmas

As we enter the last month of 2019, your chance to plan for the upcoming tax season is winding down. We are always happy to sit down with individuals and business owners to help them get the most of their tax returns. Call or text: 519-761-0956 Email: [email protected]

Are you thinking of incorporating your business? We can help. Call/text: 519-761-0956 Email: [email protected]

Bookkeeping can be a time consuming, but a necessary task for any business. Outsourcing your bookkeeping can have many benefits versus hiring in-house or doing it yourself. Heres 5 of the top advantages: 1. Unbiased Opinion One advantage of hiring an external bookkeeper is they dont have any emotional attachment to the business. Their point of view is based on the numbers and can provide valuable insight that an internal bookkeeper may overlook.... 2. Lower Costs Outsourcing your bookkeeping can lower your costs significantly. Its cheaper to hire a bookkeeping service than to employ a full-time staff member as youll need to pay them a salary, vacation pay, benefits, etc. 3. Lower Turnover When you hire somebody in-house, you need to keep them happy in your company. If they become unsatisfied, they may quit. Bookkeeping & Accounting services rarely drop clients usually the opposite, as they try to build long-term relationships. 4. An Expert for Your Business Hiring a bookkeeper with experience in your industry can be crucial and highly beneficial. Their expertise can provide invaluable insight and savings especially if youre a new business owner. Be sure to ask questions before hand to see if theyre the right fit for your company. 5. More Time Outsourcing your bookkeeping gives you more time to focus on the things that matter. You can focus on growing your business while still benefiting from financial reports. Or activities outside your business, such as more time with family and friends.

Have you filed your 2018 taxes yet? If you have, great! If not, whats preventing you from doing so? ... Are you too busy? Did you have a bad experience with taxes? Is hiring a professional too expensive? Cant find your tax slips? Do you know youll owe and are afraid to file? Are you waiting for your Uncle Bob to find time to do it on Turbo Tax? Even if youre late and owe, filing now can avoid more penalties. Unless you like giving the government money (hello, compound interest!) If the government owes you, you could be loaning them money interest free. Its possible to go back as far as 10 years to file for refunds. (hint: loaning the government money isnt a good investment) We have solutions for the questions above and we make filing your taxes easy (and affordable). What do you have to lose? (aside from your tax burden) Contact us via Facebook Messenger Email: [email protected] Call/Text: 519-761-0956 http://heightonaccounting.ca

Did you know that many government grants and subsidies for businesses are considered taxable income? Be sure to tax plan appropriately.

Sometimes we receive gifts from our clients. Sometimes those gifts are 30 year old accounting software. NewViews was a popular software back in the 80s for accountants and business owners. This version contains 5 manuals, 8 hard disks, and a reference card to navigate the program. Although we cant boot it up as we lack a hard disk drive, its still very awesome for us to see a piece of history. A great reminder how far technology has advanced and helps us appreciate how painless modern accounting software is.

Sold your home? Youll need to disclose it on your tax return to claim the Principal Residence Exception. The Principal Residence Exception ensures your capital gains are tax exempt.

Theres nothing more rewarding than providing a client with a good experience with something that is typically seen as dreadful. However, weve met some people this year whove had a bad experience with tax preparation (not from us, mind you!). This bad experience caused many of them to not file their taxes in years some up to 7 years! If you owe the government money and file late, you get hit with two penalties a late filing and late payment penalty. Filing late means 5...% interest on your balance owed and late payment is 1% interest per month compounded daily. If you continuously file late, the CRA can double the penalties to 10% and 2% respectively. On the flip side, if you dont owe the government, they might owe you. You could be missing out on refunds, and other benefits (if you qualify) such as the Trillium Benefit and HST. Filing late in this case could mean youre loaning the government interest-free money. We encourage people not to wait, as filing your taxes can relieve stress and even if you owe, you will owe less by filing on time. If you dont like to file your own taxes, we suggest finding a tax professional to do it for you. There are some fantastic tax preparers that are professional, friendly, experienced, and reasonably priced. And remember, its not as bad as you think! Our clients are pleasantly surprised how smooth the process is!

Its been a great summer so far. Weve had the privilege of supporting many small businesses with their bookkeeping, tax, and accounting needs. Many new clients have joined us during the summer months and are enjoying the benefits of our services.

Are you a small business owner? Could you benefit from accounting services? We offer many small business solutions including: Bookkeeping Payroll... Tax planning & preparation Business registration Incorporation Business planning On-site consulting CRA representation Financial reporting & forecasting Accounting system set-up & integration If you feel your business could benefit, why not contact us for a free consultation? Call or Text: 519-761-0956 Email: [email protected]

If youre self-employed, make sure your tax preparer provides you with a full copy of your tax return (and not just the T1 general and summary pages). It will be needed in the event to prove your income - such as a loan or mortgage.

Our office hours have changed. However, we are happy to accommodate clients outside of regular business hours.

We havent been able to access anything online today with CRA. Hopefully its restored soon!

Did you receive a call from CRA stating you owe money and demanding payment in the form of gift cards? Its a scam. CRA will never ask for payment this way nor use mean & aggressive language that usually accompanies these phone calls.

We have a passion for is working alongside small businesses to help them grow. Since every small business is unique, we tailor our services to the needs of your business. Some of the services we offer include bookkeeping, tax planning, tax prep, remittances, business planning, financial reporting & forecasting, CRA representation, and audit support. If your business could benefit from our services, please contact us for a free consultation.... Call or Text: 519-761-0956 Email: [email protected]

A common mistake I see when people file taxes as married (or common law) for the first time is not including their spouses income on their return. This usually happens when a couple uses different tax preparers. Each spouse needs to provide their partners net income as it impacts the credits on their return. Otherwise, what will happen is the spouse who filed first will get reassessed. If they received too much refund, they will now owe money back to CRA. Ive seen this scenario a few times this year and its never fun to tell a client their significant other will owe back much of their refund.