Angel Xia CPA Professional Corporation
Your local accountant
We are expert in
Corporate Tax
Audit & Review of Financial Statements
Personal Tax
Bookkeeping
About us
Angel Xia CPA Professional Corporation is a licensed public accounting firm located in Toronto, Ontario. Angel Xia is a sole practitioner working with a team of consultants and bookkeepers dedicated to providing quality accounting and assurance services to individuals, private sector and not-for-profit entities in Canada.
About Angel Xia
Angel graduated with a Bachelor degree in accounting in 2008 and Master of Accounting degree in 2009 from the University of Waterloo. She has over 15 years of public accounting experience working with private enterprises and non-for-profit organizations. She is very detail oriented and passionate about looking after her clients.
Our Services
We devote the time to understanding your needs, giving you a piece of mind in a language that you can understand. We want to be involved with you regularly, not just at tax times, to help you achieve your goals.
Taxation & Accounting
We prepare personal tax, corporate tax, trust and charity information returns for entities and individuals based in Canada. We also provide bookkeeping support services to help you get real time data on your financial situation.
Compiled Financial Statements
This service is essential for businesses that require a professional presentation of their financial status without the need for an audit or review. Compiled statements are particularly useful for bank financing, internal management, and attracting investors who need a reliable snapshot of your business's financial health.
Assurance - Review Engagement
Review engagement offers a moderate level of assurance for businesses and organizations needing a professionally presented financial statements with a full set of notes to financial statements in accordance with generally accepted accounting standards. This service is a step above a compilation but less intensive than an audit.
We perform inquiry and analytical procedures to ensure that your financial statements are reasonable and free from material misstatements. This service is ideal for businesses that require a higher level of assurance for stakeholders, such as government grants, financial institutions or potential investors, without going through the full extent of an audit.
Assurance - Audit Engagement
An audit provides the highest level of assurance for businesses in Canada. We conduct thorough and independent examination of your financial statements, assessing their accuracy and compliance with generally accepted accounting standards.
This comprehensive service is for businesses that are legally required to undergo an audit or those looking to demonstrate their financial integrity to stakeholders. Beyond compliance, our audit engagement offers strategic value. We identify areas of risk and provide recommendations for improving financial systems and controls.
Tax Toronto
Is it worth it to hire an accountant for personal tax?
Saves Money
The best thing about hiring an accountant is that you get back some of what you paid in taxes. There are several different methods that an accountant can use to help you reduce your taxes and save some extra money for yourself. A chartered accountant will better understand legislative changes and know how to prepare personal tax returns in a way that your taxes will be minimized as much as possible.
It's Not That Complicated
The tax code is so complex that it often intimidates people from doing their own taxes, but hiring someone reduces the amount of workload you would've had. For example, if you're a college student who had part-time employment during the school year, you might get a big refund because of all the money withheld from your paychecks by your employer. However, if you work in summer and don't have any withholding taken out of your paycheck (since it's only temporary), you will likely owe quite a bit more when April rolls around. An accounting firm would contact the employer and inform them that you're no longer employed, so your withholding would be lowered.
Save Time
There are only two ways to get money back from the government - either paid a little throughout the year or get a huge refund come April (which is basically like giving an interest-free loan to the government). If you think about it, filing your taxes takes hours of work - this time could be better spent working on something else. A good accounting firm will be able to cut down on the amount of time you spend dealing with tax paperwork, allowing you more free time each year!
Tax Toronto
Here are some of the benefits our clients receive from us
Saving time
People are very busy with their personal lives, jobs and children. What is more, you have to do taxes every year. If you don't have any knowledge about Canadian tax then you may want to hire a qualified professional.
Reducing mistakes
If you are not familiar with a personal tax return - it is recommended that you at least attend a consultation with a CPA professional or a firm, if not hire them. Why? Working with a professional corporate firm will help you accurately prepare and file your personal tax returns.
Saving money
lthough most people think tax services are expensive, they're either free or significantly less expensive than you would've thought. Tax accountants/CPA understand legislative changes and know how to prepare personal taxes in a way that minimizes your loss.
Regular contacts
Not only will we provide constant updates on status of your return, you can expect our team to consistently deliver the best services in Ontario.
Protection
Our team will ensure that your rights are protected throughout the process and no disclosure of your personal information past what is required will be necessary.
Convenience
Our business will cater to our clients' scheduling.
Tax Toronto
Should I hire tax services for my small business?
If you’re a small business owner, then the answer to this question is going to be an easy yes.
The penalties of not hiring a tax accountant in Toronto for your small business can negatively impact your company’s bottom line. Not only will it cost significant fees in fines, but you could end up spending quality time doing work that is better suited for someone whose sole responsibility within the organization is tax preparation and management.and decrease expenses.
If you’re considering hiring an outside corporation, there are a few things to remember. Make sure that the person or firm has experience working with small businesses and not just large ones. You should also be confident in the abilities of the individual assigned to your company because they will play a huge role in your organization’s success moving forward. This is why it’s incredibly important that you have some form of consultation with any tax professional, whether that’s through phone or in an office.
Whether you choose to hire a tax accountant for business or tax planning, you need to personally monitor your records diligently. If penalties come down on you from non-compliance or from mistakes made without good cause, it could spell significant disaster for your budget and line of credit. Penalties can add up quickly if proper diligence is not applied towards maintaining accurate records along with filing taxes on time.