Black & White Accounting Services
Black & White Accounting Services
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    • Blog
    • File Tax
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      • About Us
      • Contact Us
      • Resources
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      • Careers
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  • Home
  • Services
    • Taxation
    • Accounting
    • Payroll
  • Industries
  • Blog
  • File Tax
  • Company
    • About Us
    • Contact Us
    • Resources
    • Authorization
    • Appointment
    • Careers
    • FAQ

Who We Serve


BnW's clients span a wide range of industries, each with its unique financial challenges. We bring a wealth of knowledge and experience to every client, tailoring our services to meet specific needs. We have specialized experience working with:




Doctors / Physicians

BnW's team of experienced professionals specializes in the financial needs of medical practitioners. We understand the intricacies of the healthcare industry, including the specific tax deductions, regulations, and financial challenges you face.

Our Services

Real Estate Professionals

BnW provides accurate and timely tax preparation services for individuals and small businesses, ensuring that you never miss a deadline or pay more than you owe.

Our Services

Lawyers & Law Firms

BnW's dedicated team of tax and accounting experts understands the unique financial challenges faced by law firms.

We offer tailored solutions to help you maximize your firm's profitability, optimize tax efficiency, and ensure financial stability.

Our Services

Ride-sharing Businesses

  BnW's team specializes in providing tailored tax and accounting solutions for rideshare drivers on platforms like Uber, Lyft, and Taxi. We understand the unique financial challenges of fluctuating income, expenses, and complex tax regulations.

Our Services

E-Commerce Businesses

 BnW's team of experts specializes in providing tailored tax and accounting solutions for e-commerce businesses. We understand the unique challenges you face, such as inventory management, sales tax compliance, and online payment processing.

Our Services

Construction Professionals

  BnW's team specializes in providing tailored tax and accounting solutions for construction businesses of all sizes. Whether you're a sole proprietor, partnership, or corporation, we understand the industry's specific financial needs.

Our Services

Employed Individuals

Maximize your refund, minimize your stress

BnW's tax services are tailored to working individuals. Benefit from our expertise in deductions, credits, and tax planning. Enjoy peace of mind knowing your taxes are in good hands. 

 

Common Income Slips for Employed Person

Need help figuring out your taxes? Gather these essential documents:

  • Employment income: T4, T4A, T4E
  • Pension and other income: T4A(OAS), T4RSP, T4RIF, T5
  • Other slips: T3, RC62, T5007 (and possibly others)

Common Deductions for Employed Individuals

Maximize your refund! Don't miss out on these potential deductions:

  • Housing: Rent, property taxes, mortgage interest
  • Transportation: Public transit passes (Presto, monthly, weekly), car-related expenses (fuel, insurance, maintenance)
  • Medical: Out-of-pocket expenses not covered by insurance
  • Charitable donations: Receipts from registered charities
  • Education: Tuition fees (T2202A), student loans interest
  • Employment expenses: Specific work-related costs (T2200)
  • Disability-related expenses: Medical costs, equipment, modifications (T2201)
  • Child-related expenses: Child care, disability, arts, and activity credits

Remember: Eligibility for deductions varies. Let our experts help you claim what you deserve.

 

Let's refine those shareable tax credits:

Couple Shareable Tax Credits: Boost Your Refund

Did you know you can share certain tax credits with your spouse or common-law partner? Maximize your tax savings with these options:

  • Charitable donations: Contribute to your favorite causes and split the tax credit.
  • Medical expenses: Share the burden of out-of-pocket medical costs.
  • Tuition credits: Support a student in your family and claim a portion of the credit.
  • Pension income: If one spouse has lower income, consider transferring pension income to maximize tax benefits.

Note: Eligibility and rules for sharing tax credits may vary. Consult a tax professional for personalized advice.


Would you like to add a call to action, such as "Book a free consultation" or "Let us optimize your return"?

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Rentals Business

 Increase your rental property ROI

BnW's tax services identify potential tax savings, ensuring you keep more of your hard-earned income. Benefit from our expertise and focus on growing your rental business.

 

Understanding Rental Property Taxes: Key Concepts

Navigating the complex world of rental property taxes can be overwhelming. Let's break down some essential terms and concepts: 


Buying and Selling Rental Property

  • Capital Gains: Profit from selling a property. Generally, 50% of the capital gain is taxable. 
  • Principal Residence Exemption: Protects homeowners from capital gains tax on the sale of their primary residence. 
  • Flipping Properties: Rapidly buying and selling properties for profit can trigger business income taxation, not capital gains. 


Living and Renting in the Same House

  • Principal Residence: Only one property can be designated as your principal residence per year. 
  • Partial Rental: If you rent out part of your home, you may be able to claim rental income and expenses.
  • Principal Residence Exemption (PRE): You may still claim the PRE for the portion of your home you live in.


Expenses vs. Assets

  • Expense: A cost incurred to generate income. Examples include repairs, property taxes, utilities.
  • Asset: Something of value owned by a business or individual. Examples include the property itself, appliances, furniture. 


Capital Cost Allowance (CCA)

  • Depreciation: A method of spreading the cost of an asset over its useful life for tax purposes. 
  • CCA: The tax deduction allowed for the depreciation of property used in a business. 
  • Recapture: When a depreciated asset is sold for more than its adjusted cost base, the difference is added to income.


Understanding these terms is crucial for maximizing deductions and minimizing your tax burden.

Would you like to delve deeper into a specific area, such as rental income and expenses, or CCA calculation?


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Students

 Student life is busy enough

Let us handle your taxes. BnW's expert team specializes in student tax returns, ensuring you get the maximum refund while staying compliant. Relax, focus on your studies, and leave the tax worries to us.


 

Need help with your student taxes?

To get started, gather these key documents:

  • Income slips: From all your jobs.
  • Tuition receipts: Form T2202(A) from your school.
  • Rent receipts: If you paid rent.
  • Donation receipts: If you made charitable contributions.
  • Public transit receipts: For eligible expenses.

We can help you maximize your refund! Book an appointment today.


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Retail, Wholesale or Trade Businesses

Retail, Wholesale or Trade Businesses

 Navigating the complexities of retail, wholesale, or trade requires a deep understanding of industry-specific financial challenges.BnW's team of experts provides tailored tax and accounting solutions to help your business thrive.

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Tax Preparation and Planning

Personal Taxes

  • T1 Individual Tax Filing for
  • self-employed
  • sole proprietors
  • partnership
  • small business
  • employee
  • investor
  • T2125 Statement of Self-Employed Earnings
  • RRSP tax deductions
  • GST/HST filing
  • Taxes for rental properties
  • Sale of residential real estate properties
  • Disability tax credit application 
  • Foreign asset and income reporting (T1135 … etc)
  • Non-resident filings
  • Year-round tax planning and CRA representation
  • CRA Appeals and Notice of Objections
  • Filing back taxes

Our Clients

Corporate Taxes

  

  • T2 Corporate Income Tax Return
  • Year-round tax planning, accounting & business support and CRA representation
  • Tax planning, tax deferral strategies, income splitting, and tax write-off guidance
  • Maximizing deductions and credits for your business
  • Issuance and submit of tax slips (T4, T5, etc.)
  • Non-resident filings
  • CRA Appeals and Notice of Objections
  • Filing back taxes

Our Clients

Bookkeeping and Financial Reporting

Bookkeeping Services

  • Monthly bank reconciliation and bookkeeping
  • Efficient and accurate financial record management
  • Streamlined bookkeeping processes
  • Integration with other financial software

Our Clients

Financial Reporting

  • Monthly trial balance and financial statements
  • Compilation of financial statements 
  • Notice to Reader Financial Statements

Our Clients

Ongoing Support

  • Unlimited accounting and business support
  • Cloud, remote and in-person accounting g services 

Our Clients

Business and Financial Advisory

  

  • Incorporation and business structure advisory:
  • Deciding to incorporate
  • NUANS Name Search
  • Articles of Incorporation
  • Initial Return Filing
  • CRA Account Setup (RC, RP, RT, RZ)
  • Comprehensive financial analysis
  • Cash flow management and budgeting
  • Retirement and estate planning strategies
  • Business plans and master budgeting
  • Business projections and capital budgeting 
  • Small business consulting
  • Financing & grants
  • Software implementation & training
  • GST/HST registration advisory
  • Website design, domain and digital marketing plan

Our Clients

Payroll Services

  • Accurate and timely payroll processing
  • Calculation and remittance of federal and provincial taxes
  • Employee record management
  • Year-end reporting and T4 issuance
  • Compliance with employment standards

Our Clients
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BnW - Black & White Accounting Services Ltd.

849 Renaissance Drive, Oshawa, Ontario L1J 8K6, Canada

(437) 979-9997

Copyright © 2025 BnW : Black & White Accounting Services Ltd.- All Rights Reserved (Since 2013)

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