Accurate Bookkeeping Simplifies Tax Filing

Businesses Selling in Canada

Based on the destination of product & service delivery along with a few other eligibility criteria -> you can be required to register with a total of 5 tax agencies in Canada.

First and foremost is the Federal GST/HST which covers 6 provinces and all 3 territories.

(refer to the orange & green colored regions in TABLE CAN 1.0)

Additionally, you may require to register with 4 more provincial tax agencies

(refer to the blue-colored regions in TABLE CAN 1.0)

TABLE CAN 1.0 Guide for Sales Tax Rates across Canada

What you get from Transcounts

Businesses Selling in the USA

NEXUS – that’s the term you must familiarize yourself with if your business is planning to sell in the USA market. Here are the two most common ways businesses create NEXUS/Connection(s) with States.

1. Physical Nexus

if you are just starting to sell in the USA then establishing the physical Nexus would be the first step (based on the location of people and properties).

2. Economic Nexus

if you have already been selling across the USA then also keep track of economic Nexus (based on sales transactions and/or dollar value thresholds).

Two most common points to understand when you pass the economic nexus thresholds.
Physical Nexus - Based on location People & Property.
Economic Nexus - All about your Sales usually in the past 12 months.
Table USA 2.0 Guide to list of thresholds according to general economic nexus laws.

Note: These are mostly common sales tax regulations applied to general businesses. it may not be a complete guide for your unique business situation; therefore, it’s recommended to consult a tax professional to establish nexus for your business.

What you get from Transcounts

Our Partners

We work with audit-enabled cloud-based tools to create highly productive and seamless workflows to simplify day to day accounting activities.

What you get from Transcounts

We at Transcounts are hyper-focused on delivering excellent bookkeeping, payroll, accounts payable & receivable, and Fractional CFO services and for that reason we do NOT file income tax returns. However, we have partnered with tax expert CPAs across the USA and Canada to file your corporate income tax return. We are happy to do the introduction with our network CPAs or even get your business income tax return filed on your behalf.

Can I file with my own CPA?

Absolutely, the decision is yours. You can opt to proceed with your existing tax professional, or collaborate with our partner firms. Regardless of your choice, we’ll send your year-end financials, reconciliations and address any queries they may have directly. You have the flexibility to receive the year-end package and forward it to your chosen CPA or tax professional – it’s entirely up to your preference and convenience.

Note: Access to our tax partner network and their discounted rates are exclusively accessible to Transcounts clients.

Our Services

What our customers say on GOOGLE

Michael GoldbergMichael Goldberg
00:23 01 Nov 23
Highly recommend! Very professional, efficient and detailed, a key part of our business.
Chris DanielsChris Daniels
11:19 11 Oct 23
Aman and his team have provided excellent service in cleaning up books, syncing Quickbooks with various payment platforms, and ongoing accounting support. Highly recommended.
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04:09 01 Sep 23
Pranab GargPranab Garg
01:33 01 Sep 23
Mel VindevoghelMel Vindevoghel
22:01 17 Jul 23
Professional, efficient, and friendly to work with. Thanks so much for your stellar support thus far Transcounts!
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13:37 17 May 23
Very good service provided by reliable and professional staff
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01:01 10 Apr 23
I am delighted to provide a review of Aman Kumar, who recently provided me with an accounting consultation service. From the outset, it was clear that Aman was a true professional who genuinely cares about his clients. His patience, honesty, and... expertise are truly remarkable.Although I ultimately did not end up working with Aman due to the nature of my business, I was thoroughly impressed with his work during our 90-minute consultation. He provided me with a wealth of knowledge and insights that I would never have been able to gain on my own. He is clearly an expert in his field, and I have no doubt that he is an invaluable asset to anyone who has the privilege of working with him.Thank you, Aman, for your excellent work and for showing such great qualities in your profession!read more
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21:09 08 Apr 23
Aman was able to answer all my questions in a timely and competent manner. I would be definitely using him in the future.
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16:00 04 Apr 23
I would highly recommend Transcouts!!! Trust, vision, abiity and organization are the words that pop into mind when I think of my experience working with Aman, CEO of Transcounts.
Jay DomenicJay Domenic
20:25 20 Mar 23
The Transcounts team has been fantastic to work with. They have helped us clean up our books and helped us stay on track of everything. They have been professional, reliable, and flexible. 100% would recommend for any small business.
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05:03 17 Mar 23
I had a consultation with Aman. He was very helpful and knowledgeable. He answered all of our questions and provided actionable advice.
Dale MortonDale Morton
16:29 07 Mar 23
I have worked with the Transcounts team for 9 months and when I hired them, my books were a mess. They spent the time and diligently went through and cleaned up the mess we created providing support and answering questions along the way. Each... month they completed our month end and sent management reports to review. I would definitely recommend the Transcounts more
Cheryl Anne VellaCheryl Anne Vella
17:18 25 Jan 23
Aman and his Team are fast, accurate, reliable and very easy to deal with. I highly reccommend this company!
Michael ParkMichael Park
23:21 15 Oct 22
Transcounts demonstrated a very professional process during our consideration phase. The were prompt, accurate, and extremely knowledgeable on all things not only related to Canadian taxes but internationally as well. I highly recommend Transcounts... for ecommerce businesses looking for accounting and bookkeeping more
Jonathan CheungJonathan Cheung
02:29 30 Aug 22
I have been working with Aman for over a year now and he has been great helping with my bookkeeping. Definately recommend his services.
Administration PHDAdministration PHD
19:13 22 Aug 22
Aman and his team is very professional in every aspects of bookkeeping and accounting services, they provide. We used their services to apply BC wage subsidy some other grants during Covid-19. They are responsive, qualified and held responsibility... of their work.We highly recommend Transcounts Bookkeeping & Payroll Services!!read more

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