Amelie CameronAs the popular saying goes, only two things are constant in life: death and taxes. Sadly, there’s nothing that can help us with the first one that’s short of inventing an immortality elixir. But with taxes, there might be someone who can help you out.
Called accountants, these professionals can do more than just keep your finances in order. They can also ensure every tax duty you have is paid and kept track of regularly to keep the tax man from knocking on your door.
Thankfully, there are accounting firms that can give you the support you need at good prices. Here are some in Toronto you should definitely consider!
| How much do accounting services cost in Toronto? Most accountants in Toronto charge $250 per hour for their services. Keep in mind that the cost varies based on the size and scope of your business. |
How We Chose
1. Teixeira Accounting Firm Inc.
Address: 1015 Bloor St W
Phone number: +1 416-535-8846
Business hours:
9:00 AM – 6:00 PM (MON, WED, and FRI)
9:00 AM – 8:00 PM (TUES and THURS)
9:00 AM – 4:00 PM (SAT)
Teixeira Accounting Firm Inc., a family-run business in Bloordale Village, has been providing exceptional accounting services since 1973. They provide their comprehensive offerings in both English and Portuguese, which include tax services, bookkeeping, estate planning, and back-office assistance.
For me, having such a well-rounded list of services already makes them one of my most favourite firms. However, they’re made even better because they can assist clients in securing financing for their businesses’ expansion.
They can also restructure or refinance your corporate debts to give your financial sheet a bit more wiggle room.
Sadly, it has come to my attention that some clients experienced slow responses from them. A couple I’ve talked to had to wait days before they received any updates.
Pros
- 51 years of experience
- Speaks in English and Portuguese
- Can restructure corporate debt
- Can secure financing
Cons
- May take days to respond
- Inconsistent operating hours
Great service and very reasonable pricing!
“Great service and very reasonable pricing! I was very impressed by the professionalism of both Christopher and Rosa. Thank you for making my experience so seamless!”
-Melissa, Google Reviews
Mr. Carlos Teixeira is attentive and devoted toward his clients
“Mr. Carlos Teixeira is attentive and devoted toward his clients. There isn’t a need that he does not meet when he is asked about guidance and advice. I would recommend Teixeira Accounting Firm Inc. without hesitation to all as I have so many times in the past.”
-Lucie Ahmad, Google Reviews
2. Hari Business CPA
Address: 168 Simcoe St Unit 1118
Phone number: +1 647-212-9559
Business hours:
5:00 PM – 9:00 PM (MON-FRI)
9:30 AM – 9:00 PM (SAT)
9:00 AM – 9:00 PM (SUN)
Hari Business CPA, founded by Sharad Patel in 2015, offers a comprehensive suite of services, including accounting, corporate tax, payroll, CFO services, and personal tax preparation.
One of the reasons that makes them a solid choice is their mastery of handling finances for e-commerce businesses. They are well-versed in tax laws concerning online businesses and have experience managing platforms like A2X, QBO, and XERO.
Furthermore, they have experience working for various businesses that are involved in new sectors, like cryptocurrencies. They also cater to charities and non-profit organisations, ensuring that their books are kept in order and safe from embezzlement or money laundering.
However, it’s a bit disappointing to see that they’re only open for four hours on most days of the week. Expect some waiting time, especially if you plan to hire them during tax season.
Pros
- 9 years of experience
- Skilled in e-commerce accounting
- Can serve crypto businesses and charities
- Free accounting consultations
Cons
- Limited business hours
- Tends to get fully booked quickly
Has been exceptional for my small business in Toronto
“Hari Business Tax Services has been exceptional for my small business in Toronto. Their expertise in tax filing and bookkeeping is unparalleled. Hari and his team offer personalized, thorough, and professional service. They ensure all records are accurate and provide valuable insights. Their proactive approach and fair pricing make the process stress-free. Highly recommend them as the best CPA firm in the GTA!”
-Meet Bhadani, Google Reviews
An absolute game-changer for my business’s tax season
“Great experience. Working with my CPA was an absolute game-changer for my business’s tax season. Their expertise helped me for maximum refund. Their personalized approach and attention to detail truly made me feel like a priority. I highly recommend them!”
-Nikunj Gondaliya, Google Reviews
3. CPA4IT
Address: 180 John St Suite 100
Phone number: +1 844-731-0601
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
Founded in 1984, CPA4IT is a highly-experienced accounting firm that specialises in accounting services for small businesses and independent contractors.
With a team that’s well-versed in both English and Spanish, they can provide an amazing list of services that are powered by the cloud. Cloud accounting software, unlike traditional options, is accessible online and suits businesses without a physical address, such as online businesses and freelancers.
Furthermore, they’re also skilled in matters concerning taxation laws and can protect your business against audits performed by the Canada Revenue Agency (CRA). This protection is automatically included if you availed one of their corporate accounting bundles.
Sadly, their services don’t come cheap and are some of the pricier ones you’ll find on this list. Some former clients also told me that CPA4IT’s people tend to forget to reply to their messages.
Pros
- 40 years of experience
- Uses cloud accounting software
- Provides audit protection
- Speaks in English and Spanish
Cons
- Sometimes misses calls or emails
- Above-average prices
CPA4IT has been exceptional to my contracting business
“CPA4IT has been exceptional to my contracting business. They are extremely helpful, always available for any assistance, reliable, and they really do make a difference in my financial planning and compliance, and optimizing my financial performance.
I highly recommend their services to any contractor in need.”
-Luis Da Costa, Google Reviews
Service is always top notch and they are very professional
“I’ve been a client since 1998 when I started consulting. Service is always top notch and they are very professional. Sure, you can find someone cheaper, but how great is their service? Their tax planning is excellent and peace of mind knowing that you’re working with one of the best Accounting firms.”
-Jason Charbonneau, Google Reviews
4. Faris CPA
Address: 255 Duncan Mill Rd #604
Phone number: +1 844-340-5771
Business hours: 9:00 AM – 5:00 PM (MON-FRI)
Founded by Sam Faris in 2014, Faris CPA is an accounting firm that caters to diverse clients, offering audit, regulatory compliance, and high-level accounting services.
Interestingly, they’re skilled in dealing with tax disputes and are knowledgeable about every taxation law and regulation set by the CRA. More importantly, they can assist you with offshore tax disputes, customs duties, and cross-border taxes.
Of course, they can also be proactive in using their impressive talent. In fact, they’re well-versed in the intricacies of the lifetime capital gains exemption and can assist you in keeping every single cent of your hard-earned earnings.
Sadly, their team has a reported size of only 10 members. That might make it harder for them to accommodate new clients, especially during tax season.
Pros
- 10 years of experience
- Specialises in tax disputes
- Deals with cross-border and offshore tax issues
- Can assist in applying for lifetime capital gains exemption
Cons
- Small team
Resolved my issue on timely basis
“I was referred to Sam Faris by a business partner who had an excellent experience before. I found that Sam and his team are experts with CRA issues and resolved my issue on a timely basis. More importantly, his fee is very reasonable. Many thanks and I will definitely recommend the firm to others.”
-Khaled Darwish, Google Reviews
Incredibly thorough and honest in his work
“Sam was absolutely amazing, I was in desperate need of urgent tax help with little time left and he managed to get everything done flawlessly in the last 2 weeks! He is incredibly thorough and honest in his work. Truly appreciate him! Thanks Sam!”
-Conrad, Google Reviews
5. SRJ Chartered Professional Accountants
Address: 330 Bay St. #1400
Phone number: +1 647-725-2537
Business hours: 8:00 AM – 7:00 PM (MON-FRI)
SRJ Chartered Professional Accountants, founded in 2011, provides a diverse range of accounting services for personal and corporate purposes.
Personally, I applaud them for their small business focus and expertise in handling books for solo practitioners like doctors and lawyers. What’s even more interesting is that they can assist in filing for SR&ED tax credits! SR&ED is a tax incentive program granted to businesses that produce worthwhile scientific and technological R&D work.
Beyond that, they also have an extensive list of advisory services and can be consulted on matters related to business valuation, litigation support, and budgeting.
Sadly, they’re one of the most in-demand accounting firms in Toronto. They’re fully booked most of the time, especially during tax season.
Pros
- 13 years of experience
- Can assist with SR&ED tax credit filing
- Comprehensive advisory services
- Free initial consultations
Cons
- Tends to get fully booked quickly
- Sometimes misses calls or emails
Very professional, reasonably priced
“SRJ Accountants did a fantastic job walking me through the HST housing rebate process, and organized my information. They handled everything swiftly, and submitted my paperwork for me. I ended up getting my full refund weeks earlier than expected. Very professional, reasonably priced. I recommend them!”
-Eileen Tan, Google Reviews
Really owe this business a lot and am very grateful for their help
“SRJ has helped me so much the last few years. My new business took a huge hit during the pandemic and lockdowns. The whole team at SRJ helped me stay afloat with applying for grants, tax refunds, and the rent subsidy help. Really owe this business a lot and am very grateful for their help.”
-Eric McKinnon, Google Reviews
