Tel: (604) 441-5690
Email: info@sksharmacpa.com
Accounting ServicesBookkeeping for entrepreneursTax Preparation

Accounting Services

Shashi Sharma offers its clients excellent business and personal tax accounting services

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Bookkeeping for entrepreneurs

Keeping your firm’s financial books accurate and up to date offers real time insights into operations

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Tax Preparation

Shashi Sharma offers a complete range of customized tax preparation and filing services to our clients

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Accounting

Shashi K. Sharma offers its clients excellent business and personal tax accounting services, including insights on new and established tax laws, and perfectly tailored comprehensive strategies for minimizing tax liabilities while maximizing refunds.

Our expert tax consultants are extremely knowledgeable on the intricacies of filing corporate taxes in Canada, and we are always available to assist with late filing and adjustment requests.

We also offer tax audit assistance and we are always available to help our tax accounting clients with any correspondence received from the CRA at no additional charge.

What is Income Tax Accounting?

The objectives of income tax accounting is to discover the amount of taxes payable or refundable for the current year and any deferred tax liabilities and the future tax consequences of today’s financial statements and income tax returns. Income tax accounting is different than other forms of accounting because it incorporates highly speculative variables, such as valuation allowance assessments, as well as certain areas which have very prescriptive rules (e.g., intraperiod allocation, valuation allowance balance sheet classification). It requires the use of estimates and assumptions, which can be challenging for professionals to determine, and can result in the need for difficult judgments to be made at various points in time. In addition, there is generally a “timing difference” in terms of when professionals focus on certain aspects of income tax accounting. For example, although the year-end financial reporting function is a critical aspect in the year-end reporting timeframe, the income tax return for that same year is not generally a priority until several months after year-end. In addition to the “everyday” complexities of income tax accounting, when acquisitions or divestitures occur, additional complexities often materialize in the areas of intraperiod allocation, permanent reinvestment assertions, and valuation allowance assessments. Simply put, no transaction is “complete” without a comprehensive assessment of the income tax accounting guidance.

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Bookkeeping

Good bookkeeping can often spell the difference between success and failure in any venture. Having an experienced bookkeeper on your team is proven to offer compound advantages to your business. […]

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Accounting

Shashi K. Sharma offers its clients excellent business and personal tax accounting services, including insights on new and established tax laws, and perfectly tailored comprehensive strategies for minimizing tax liabilities […]

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Tax Preparation

Dealing with taxes is a subject that often strikes fear into the hearts of business people, leading them to delay or avoid remitting returns. Lack of experience or understanding of […]

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About

About Shashi K. Sharma Shashi K. Sharma has been working with small and medium sized Lower Mainland businesses for many years. He has clients in many different business sectors including Law, Medicine, […]

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Contact Us

Should you require assistance or have any membership inquiries about the accounting services offered by Shashi K. Sharma, please contact us: Shashi K. Sharma – MBA, CPA, CGA #212 – 7928 – […]

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