Services Accounting & Tax

Running the business office is another job in itself, so why not focus on your business trade and let someone else handle the paperwork? We know you didn’t open your business to work all week at what you are so great at just to stare at paperwork all weekend. At Lotus Accounting we offer business accounting services to do just that. By hiring an accounting company to handle your office you can focus on your specialty, regardless of the industry you are in.

You can rest assured that your employees will be paid on time, that you are staying within budget, and leave the number headaches behind you. We tailor our business services to fit the needs of your company! Any type of business can benefit from our services, allowing you to manage and use your money more effectively.

“No matter how small your business, Lotus Accounting can help you grow”

Full-Service Bookkeeping & Accounting

Lotus Accounting offers full-service bookkeeping and accounting services to small and midsize businesses throughout Grater Toronto Area. Our team of experienced professional accountants are dedicated and eager to assist you with the management of your finances. We will develop a solution that is fully customized to meet your specific needs and allow you more time to run the day-to-day operations.

Offering a full suite of onsite and remote bookkeeping and accounting services allows Lotus Accounting Firm the opportunity to aid you in the growth of your company while reducing overhead and stress. Lotus Accounting Firm provides clients with a professional and affordable method that is all encompassing; bookkeeping, payroll, reconciliations, invoicing, cash flow projections, financial statement and customized reporting.

We are experienced in the finer points of client satisfaction and are looking forward to working with you and your company.

Our Bookkeeping & Accounting Services Include

  • Accounts Receivable
  • Accounts Payable
  • Payroll Processing
  • Monthly Reconciliation of all bank and credit card Statements
  • Quarterly and year end reports
  • Budgeting, forecasting, and cash projections
  • Preparation of Annual Financial Statements
  • Sales tax preparation and filing
  • Customized QuickBooks including Chart of Accounts
  • Customized reports
  • Onsite and Remote Bookkeeping

Personal Tax Preparation

At Lotus Accounting, we will prepare your personal tax return, and also ensure that you take full advantage of the tax credits and deductions available to minimize your taxes.Our personal tax clients cover a variety of different tax issues including: income from employment; investment income; limited partnerships; rental income; business income; professional income; old age benefits; tax return amendments; objections and appeals; allowable employee expenses.

Corporate Tax Preparation

Lotus Accounting Firm is proud to offer preparation and filing services for corporate taxes to a variety of businesses. Our expert tax professionals know that minimizing corporate tax is a top priority for you. In order for you to achieve this goal, it is important to start with expert planning. From corporate structure to executive remuneration to intercompany transactions, our tax advisors will review all facets of your business to ensure you pay the least amount of tax possible, so you can put the money you save towards other initiatives to achieve your business goals.

Our team provides a full range of Canadian corporate tax planning services, including:

  • Preparation of corporate tax returns, tax estimates, and instalments
  • HST return, and T4, T5 return preparation
  • Advice on deductions available to your business
  • Advice on the benefits of tax deferral
  • Owner/manager remuneration strategies (e.g. salary vs. dividends, income splitting)
Financial Statements / Notice to Reader (compilations) Engagement

There are many external users who have a vested interest in your financial statements. Financial institutions, the federal and provincial governments' rely upon the financial information that has been prepared of your business. It is important that you choose the right Certified Accountant in Toronto. We will ensure that your statements are accurate and are prepared according to the Generally Accepted Accounting rules. As we know, choosing the wrong Accountant can be a very expensive mistake. In a Notice to Reader, the financial statement is compiled from information provided by management or owner. In this report we will be acting as Management Accountants and not as auditors. There is no attempt to audit, review or verify the accuracy or completeness of information.


Lotus Accounting offers a full-service secure solution for your payroll needs. Our payroll service calculates wages and pays your employees, all while staying compliant with payroll taxes, workers compensation and regulations. We help create a seamless payroll experience for you and your employees.

Managing your payroll and staying compliant has never been easier with our fully automated service. Eliminate the stress of employee payroll, quarterly and annual filings. Lotus Accounting Firm is an affordable, full-service solution that reduces overhead, eliminates hassles and helps build your business.

We've created customized payroll services to allow you to pick and choose payroll services that best fit your needs. You will have the option to have your payroll checks prepared and printed, and directly deposited.We’ll make sure your payroll is handled efficiently and recorded properly.

Our Payroll Services Include:

  • Direct deposit
  • Electronic tax filing
  • Printing and filing T4 and T5
  • WSIB filings
  • Filing quarterly and annual reports
  • Online timekeeping
  • Custom reports