What accounting services does L&R provide?

L&R provides outsourced accounting, tax preparation (T1, T2, US returns), bookkeeping, payroll, cross-border tax planning, and business advisory services for individuals and businesses across Canada.

Do you handle cross-border tax returns?

Yes. We specialize in Canada-US cross-border tax planning and compliance, including US tax returns (1040, 1120), treaty benefits, FBAR reporting, and dual-citizen tax optimization.

What areas do you serve?

We serve clients across Canada with offices in Penetanguishene, Ontario and Toronto. We also serve US-based clients needing Canadian tax expertise.

How much does a personal tax return cost?

Personal tax return (T1) fees start at $150 for simple returns. Complex returns with self-employment, rental income, or investments are quoted individually. Contact us for a free consultation.

Do you offer virtual bookkeeping services?

Yes. Our bookkeeping services are fully virtual. We use cloud accounting platforms and our secure client portal for document exchange, making it easy to work with us from anywhere in Canada.

What is the Engage Hub client portal?

Engage Hub is our secure online portal where clients can upload documents, view engagement progress, approve invoices, sign engagement letters, book appointments, and communicate with our team.

Services | L&R Accounting Services

📊 Accounting

Outsourced Accounting

Our outsourced accounting service takes the busy work off your plate. Access qualified accountants who handle your financial reporting, year-end preparation, and ongoing compliance at affordable prices.

Time costs your business money. Accounting is complicated and time-consuming. Any error can put your business at risk. At L&R, we have strict controls and procedures in place to ensure accurate reporting and compliance with regulations.

Book a consultation →

✓ Financial statement preparation (balance sheet, income statement, cash flow)
✓ Year-end compilation and review engagements
✓ Monthly and quarterly financial reporting
✓ Accounts payable and receivable management
✓ Bank and credit card reconciliation
✓ HST/GST return preparation and filing
✓ Cloud accounting setup (QuickBooks, Xero, Wave)
✓ Management reporting and KPI dashboards

📑 Tax

Tax Services

Our tax services simplify any complexities dealing with personal and corporate tax. We guarantee full compliance with CRA regulations, timely submissions, and precise calculations that minimize your tax liability legally.

Tax planning is most effective when woven into how you run your business, not bolted on at year-end. Our team analyses your business structure, revenue streams, and personal circumstances to identify the most tax-efficient strategies.

Book a consultation →

✓ Personal T1 tax return preparation and filing
✓ Corporate T2 tax return preparation and filing
✓ HST/GST registration and filing
✓ T4, T5, T3, and other information slips
✓ Tax planning and optimization strategies
✓ CRA correspondence and audit representation
✓ Capital gains tax advisory
✓ Self-employed and sole proprietor returns
✓ Rental income reporting and deductions
✓ RRSP, TFSA, and investment income planning

📖 Bookkeeping

Bookkeeping

Bookkeeping is the foundation of accounting. A company may suffer severe consequences if records are not kept up to date. Inadequate bookkeeping leads to financial mismanagement, cash flow issues, and poor decision-making.

At L&R, we use the latest cloud technologies for an efficient bookkeeping system that ensures your business is tax-ready year round with absolute accuracy.

Book a consultation →

✓ Daily, weekly, or monthly transaction recording
✓ Bank and credit card reconciliation
✓ Accounts payable and receivable tracking
✓ Receipt and expense categorization
✓ Cloud accounting setup and migration
✓ QuickBooks Online, Xero, and Wave support
✓ Monthly financial reports
✓ Year-end preparation for your accountant

💰 Payroll

Payroll Services

We offer dependable and effective payroll services adapted to each client's requirements. Payroll is not just about paying people. It is a legal requirement and a reflection of how well your business is run. Getting it wrong means CRA penalties and unhappy staff.

Book a consultation →

✓ Weekly, bi-weekly, or monthly payroll processing
✓ CRA source deduction remittances
✓ T4 and T4A slip preparation
✓ Record of Employment (ROE) filing
✓ WSIB and EHT compliance
✓ Year-end payroll reconciliation
✓ New employee setup and CRA registration
✓ Direct deposit and pay stub generation

💡 Advisory

Advisory Services

At L&R, we go beyond just providing accounting services. We analyse market trends, plan tailored strategies, and optimize your financial operations for sustained growth. We help businesses make smart financial decisions.

Book a consultation →

✓ Business incorporation and structure advisory
✓ Financial forecasting and budgeting
✓ Cash flow management and planning
✓ Business purchase and sale advisory
✓ Succession planning
✓ Corporate restructuring and Section 85 rollovers
✓ Startup advisory and business registration
✓ Shareholder compensation optimization

🌎 Cross-Border

Cross-Border Tax (Canada-US)

Specialized in Canada-US cross-border tax services for individuals and businesses operating in both countries. Whether you are a Canadian with US income, a US citizen living in Canada, or a business with operations in both countries, we handle the complexity of dual filing and treaty benefits.

Book a consultation →

✓ US 1040 and 1040-NR tax return preparation
✓ Canada-US tax treaty optimization
✓ FBAR and FATCA reporting
✓ W-8BEN and W-9 compliance
✓ Foreign tax credit coordination
✓ Dual residency tax planning
✓ US Social Security and Medicare planning
✓ Cross-border business structure advisory
✓ Expatriate and immigration tax planning

Accounting solutions
built for growth.

Our Services

Outsourced Accounting

Tax Services

Bookkeeping

Payroll Services

Advisory Services

Cross-Border Tax

Outsourced Accounting

Tax Services

Bookkeeping

Payroll Services

Advisory Services

Cross-Border Tax (Canada-US)

Need Help Deciding?

Accounting solutionsbuilt for growth.

Our Services

Outsourced Accounting

Tax Services

Bookkeeping

Payroll Services

Advisory Services

Cross-Border Tax

Outsourced Accounting

Tax Services

Bookkeeping

Payroll Services

Advisory Services

Cross-Border Tax (Canada-US)

Need Help Deciding?

Accounting solutions
built for growth.