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Pricing

We're thrilled to have you as a client. At VJ Tax & Accounting, we understand that every business is different. Our services are tailored to meet your business needs.

We offer packages that meet everyone's needs, Please read below to find the best fit for your situation. Flat monthly rates are based on the accounting basis and number of monthly transactions.

Tax Return Prep
Regular

$50/ Tax Return

Investor

$25/ Rental Statement
$25/ Capital Gain Statement

Business

$100/ Self-Employed

$400/ Corporations

Monthly Rate - Accrual Basis Bookkeeping
Starter

$300/ mo
10% discount (
Prepay annually)

Up to 50 Transactions

Monthly Bookkeeping

Annual Financial Statements

Annual Financial Review

Monthly Bank Reconciliation

HST Filing

Payroll Processing - Up to 2 Employees

QuickBooks Online

Setup & Training

Pro

$550/ mo
10% discount (
Prepay annually)

Up to 100 Transactions

Bi-Weekly Bookkeeping

Semi-Annual Financial Statements

Semi-Annual Financial Review

Monthly Bank Reconciliation

HST Filing

Payroll Processing - Up to 5 Employees

QuickBooks Online

Setup & Training

Premium

$800/ mo
10% discount (
Prepay annually)

Up to 150 Transactions

Weekly Bookkeeping

Quarterly Financial Statements

Quarterly Financial Review

Monthly Bank Reconciliation

HST Filing

Payroll Processing - Up to 10 Employees

QuickBooks Online

Setup & Training

Monthly Rate - Cash Basis Bookkeeping
Starter

$150/ mo
10% discount (Prepay annually)

Up to 20 Transactions + 1 add-on

* HST Filing

* Payroll Processing - Up to 2 Employees

* Semi-Annual Financial Statements

* Accounting for loans, leases, or lines of credit

Pro

$260/ mo
10% discount (Prepay annually)

* HST Filing

* Payroll Processing - Up to 2 Employees

* Quarterly Financial Statements

* Accounting for loans, leases, or lines of credit

Up to 50 Transactions + 2 add-on

Premium

$500/ mo
10% discount (Prepay annually)

* HST Filing

* Payroll Processing - Up to 5 Employees

* Monthly Financial Statements

* Accounting for loans, leases, or lines of credit

Up to 100 Transactions + 4 add-on

Hourly Rate - Bookkeeping
Starter

$60/ Hour

25 to 79 Hours/mo

Pro

$50/ Hour

80 - 159 Hours/mo

Premium

$40/ Hour

160+ Hours/mo

Services Included in Hourly Rate

Day 2 Day Bookkeeping

Bank Account Reconciliation

Payroll Processing

Credit Card Reconciliation

Accounts Payable & Receivable

Monthly Financial Reports

The key difference between accrual and cash-based accounting is the timing of when transactions are recorded. Accrual accounting focuses on recognizing revenue and expenses when they are earned or incurred, while cash-based accounting relies on actual cash inflows and outflows. The choice between these methods depends on factors like the size and complexity of the business, regulatory requirements, and the need for accurate financial reporting.

  • Incorporation vs Sole Proprietorship
    Incorporation and sole proprietorship are two different business structures, each with its advantages and disadvantages. Understanding the differences between them can help you decide which option best suits your business needs A sole proprietorship is the simplest and most common form of business ownership. It is an unincorporated business owned and operated by one individual. Incorporation involves creating a separate legal entity known as a corporation. It is owned by shareholders and managed by a board of directors. The corporation is considered a distinct legal entity separate from its owners.
  • Liability
    The owner of a sole proprietorship is personally responsible for all business debts and liabilities. There is no legal separation between the business and its owner, which means personal assets are at risk. Shareholders' liability is limited to the amount they invest in the company. Their personal assets are generally protected from business debts and liabilities. NOTE: There are times when directors can remain personally liable for a business's debt if certain preconditions are met. For example: > Unpaid employee wages and vacation pay. > Employee source dedications and remittances. > GST/HST remittances
  • Taxation
    In a sole proprietorship, the business income is considered the owner's personal income and is reported on their personal tax return. There is no separate business tax return. Corporations file their own tax returns, and corporate profits are subject to corporate income tax. Shareholders also pay taxes on any dividends they receive.
  • Control
    In sole proprietorship the owner has full control over the business and makes all decisions without having to consult other stakeholders. Corporations are managed by a board of directors, and major decisions are made collectively. Shareholders elect the board of directors and may have a say in certain decisions through voting rights.
  • Advantages
    Sole Proprietor: Easy and inexpensive to set up, less paperwork and formalities, direct control over the business, and flexibility in decision-making. Incorporation: Limited liability, potential for easier access to funding, more credibility with customers and suppliers, and potential tax benefits.
  • What business structure is right for you?
    Choosing between incorporation and sole proprietorship depends on factors such as the nature of your business, potential risks, tax implications, growth plans, and personal preferences. Many small businesses start as sole proprietorships due to simplicity, while others may choose incorporation for added protection and growth opportunities.
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