” I have been operating my company for almost 20 years. Ten years ago, I need a help in doing bookkeeping and accounting in a more accurate and professional way. The team headed by Glen provided me with that expectations and more. They made me feel at ease with my accounting needs and supported me with enough information on how to navigate the financial rollercoaster this pandemic brings as it impacts my company.

With Gadowsky & Associates LLP, I am able to do what I do best in my company, Wee-World Day Care Ltd., and leave my bookkeeping, payroll and accounting worries to them.”

Florence Cornel, Owner

” I have been both a business and personal tax client of Glen Gadowsky FCPA, FCGA and Gadowsky & Associates LLP for upwards of 26 years. I really appreciate Glen & the firm’s professionalism & expertise. They provide me with personalized service for me & my business that go beyond my daily accounting needs. I choose to have monthly in-person meetings where I have my accounting questions answered & business guidance when I need it. All this allows me to focus on my passion, taking care of my clients and their owners at Crestwood Veterinary Clinic.”

Dr. Mary Machum, Owner

” We have been a client of Gadowsky & Associates LLP since 2013 when they took over our prior accountant’s firm. The transition was very smooth, and we gained so much knowledge from their team for both corporate and personal taxes. During changes affecting my personal life, they have been there for me and have given me very valuable advice. I always have confidence in their knowledge whenever I ask for advice on my corporate and personal tax planning. In working with their corporate, payroll and personal tax team, they make sure I understand everything and answer my questions succinctly. “

Maureen Hamilton-Tree

“Glen Gadowsky FCPA, FCGA is my go-to guy at Gadowsky & Associates LLP. He’s there to answer my questions when I call or pop in and has been there for me and my business for over 20 years. I really feel like he and his whole team have my personal & my business’ best interest at heart. They provide me with in-house bookkeeping, business advice when I ask for it & they get my accounting done to minimize my taxes, so I don’t have to worry about any of that. I get to focus on my clients and spend my time perfecting their vehicle custom work, here at Car Pretty Inc.”

Jurgen Stolk, Owner

News

Sign Up to receive our monthly newsletters.

LATEST NEWS

Small Business Deduction Reviews

Our team at Gadowsky & Associates LLP has seen an increase of corporate post assessment reviews from Canada Revenue Agency in regards to claiming the small business deduction. In order to claim this deduction on your corporate tax return, your corporation must have earned income from active business within Canada. This deduction has a business limit that must be shared amongst associated corporations in a taxation year & is reduced by any portion that is assigned to another associated corporation.

Here is a sample of the wording on the letter:

Our records show you identified your corporation as a Canadian-controlled private
corporation (CCPC) at line 040 of your T2 corporation income tax return. You also
claimed the small business deduction (SBD) on line 430.
Generally, a CCPC can claim the SBD on income earned from an active business carried
on in Canada. To support your claim, send us all of the following:
1) a description of how you earned the income
2) a copy of your financial statements
If we do not receive the requested documents, we will disallow the amount.
You have to send your documents or call within 30 days of the date of this request.
After 30 days, we will reassess your returns based on the information we have.
You can send your documents using our online services at:
Canada Revenue Agency

If you receive one of these letters we are here to assist you with submitting the necessary documents to Canada Revenue Agency. If you already have Audit Shield, reviews of this nature would be eligible for coverage.

NEWS HOME

ASSOCIATIONS