Personal assistance with years of experience, advanced training, technical, and financial acumen.
Taxation Preparation Services
It is imperative that your taxes are filed accurately and on a timely basis. Our professional staff receive continuous training re current and proposed tax legislation. Our staff understand the income tax act and its implications on your taxes. Below is a list of the tax returns prepared at our firm:
- Corporate and Personal Tax
- Estate and Trust Tax
- Charity and Non-Profit Information Returns
- GST/HST Returns and related Special Rebates
- Payroll and Other Returns
Other Taxation Services
- Government Audit Assistance and Management: Government audits (GST/Payroll/Income Tax and Others) can be intimidating, “nerve wracking” and painful to the unexperienced. We have extensive experience in this area. We know what CRA wants to see and ensure your information is presented in a manner that contributes to a speedy and successful audit.
- Tax Credit Assistance: Many special tax credits such as apprentice and others exist which we can help ensure you receive the benefit of by knowing your business and those that are available to benefit you.
Understanding the income tax act and being able to accurately apply the legislation is step one. The true value added to you as a client is the ability to apply the legislation in a manner that optimizes your assets and maximizes your wealth. This is achieved at our firm via the following value added services that we are highly qualified in providing to you:
Corporate and Personal Tax Planning: Compensation strategies are implemented to minimize your overall tax and maximize wealth. Income splitting is a key term that can benefit you and yours. Do you have to take a salary? If you are a corporate shareholder, can you take dividends instead? Perhaps a mix of both?
Estate, Family Trust and Succession Planning: Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for a surviving spouse, and can minimize the tax due on the transfer of your business and personal assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order. After an individual's death, we work with the estate trustees (executors) to ensure that the deceased's final tax return and estate tax returns are filed accurately, on time and so as to minimize the amount of tax paid.
Corporate Reorganization and Creditor Proofing: Segregating business assets from your operating company is essential to protect them from potential creditors. Corporate reorganizations can accomplish this in addition to providing corporations with loss utilization strategies and other tax minimization opportunities.
Sale of a Business and Succession Planning: Proper planning in this area can maximize the after tax value received by you on the sale of your business and will protect the future of the business; whether or not you sell to a family member or unrelated individual.
Comprehensive Individual Financial Planning: Canadian pensions are not sufficient for most to survive on and must literally be paid back if you earn over a certain amount in retirement. Proper financial planning now, will protect you in years of retirement and enable you to live a lifestyle that is comfortable and enjoyable.
Reports, Financial Statements, & Accounting Services
By meeting the highest standards of integrity and expertise required by our regulators, our firm is licensed and authorized to provide audits and other reports that may be required by lenders, investors, or perhaps non-active shareholders/owners of your business. We are regulated by the Chartered Professional Accountants of Ontario, to ensure we continue to maintain these high standards and expertise.
Audit: An intensive examination with the highest level of assurance that the financial statements are fairly stated; normally required by publicly accountable companies and not-for-profit organizations. They are also often required where the company has significant debt and/or funding.
Review: Limited assurance report on the financial statements based on enquiry, discussion and analytical procedures. Resulting statements are presented in accordance with generally accepted accounting principles, often making them acceptable to lenders, in lieu of audited statements.
Compilation Engagement: Based on information provided and used primarily for filing with corporate income tax returns as well as for internal management.
Special Reports: Some organizations may not require a full audit or review of their financial statements. They may require some assurance over a particular part of the business such as a division or in the not-for-profit world, on how certain funding was spent. We are able to provide special reports that require a certain amount of assurance over specific information as needed.
Financial Statements: A balance sheet, income statement, and statement of cash flows are the basic financial statements that tell you how your business is performing. We are fully trained in preparing these statements for our clients.
Accounting Software Needs Assessment: Perhaps you are trained in accounting and would like to “do-it-yourself”. We can guide you in choosing the system that would be best suitable to your business and its unique needs.
Bookkeeping: You have an expertise and that is likely not bookkeeping. We and our network can assist you in this area and ensure your data is accurately entered, and on a timely basis. Have a qualified bookkeeper enter your data to ensure you receive reports that help you make optimal business decisions and allow you to focus your time and efforts on your core business and skills.
We partner with our clients to develop long-term goals and strategies to facilitate future growth of their businesses. They often rely on us as their "go to" business advisors when confronted with situations they are not accustomed to dealing with. In addition to our senior staff's industry experience, we have an extensive network of professionals we engage as required.
Financial Forecasts and Projections: “If you fail to plan, you plan to fail?” Let’s project where your business will be at a future point in time. Forecasts and projections can help you adjust now to prevent future non-desirable results from occurring and can make a projected healthy future even healthier.
Cash-Flow and Liquidity Forecasting: Profit is good, but “cash is king”. Many profitable businesses have failed and unfortunately gone bankrupt because they did not understand or apply this in their business. Our cashflow analyses can project periods of time when you will need temporary or longterm injection to keep your business afloat.
Management Advisory Services: Our team has diverse experience which includes having managed and owned their own businesses. We are experienced, trained and able to advise in many other areas in addition to the traditional tax and accounting advice provided by accountants.
CFO Consulting: We have been the Chief Financial Officer. We can assist in advising in such a role or in helping you find yours.
We are proud to serve clients who come from over 40 countries around the world.
The following are many of the industries we service:
- Engineering & Media
- Financial Services
- Food & Beverage
- Government Contractors
- Higher Education
- Manufacturing & Distribution
- Pharmaceuticals & Life Sciences
- Private Equity
- Professional Services
- Real Estate
- Software & Technology
- Transportation & Logistics