Foresight • Value • Results
A CPA firm who creates integrated solutions for your needs including:
- Bookkeeping;
- Tax planning and filings;
- Performance review and analysis; and
- Independent accountant’s reports.
WHAT CAN WE DO FOR YOU?
Whether you are a startup, a well-established business, a non-profit organization (NPO), or a public company, if you have a need; we have a solution for you. We are your trusted business advisors. We provide solutions and advice on a wide range of business topics from incorporation, bookkeeping, financial statements and analysis, tax planning and filings, investment and finance decisions, purchase or sale of a business, to independent professional accountant’s reports (notice to reader, reviews, audits and other certificates).
There are many decisions to make and processes to set up when starting a business. We can provide advice and guidance to help simplify the process. We can assist you with:
Business Set Up
- Deciding whether to incorporate or run your business as a sole proprietor
- Determining a share structure that best suits your needs
- Incorporating your business
- Opening a corporate bank account
- Applying for a CRA business number
- Setup of CRA accounts (GST, Payroll, Income Tax etc.)
Record Keeping
- Guidance on keeping business records that meet the CRA’s requirements
- Providing templates and advising on apps to streamline record keeping
- Advice on recording expenses that have special requirements (vehicles, meals and entertainment, gift cards, home office etc.)
- Setting up a bookkeeping system that works for you
- We can take care of your bookkeeping so you can focus on your business or;
- We can help you do your own bookkeeping by either providing you with spreadsheet templates or assisting you with your accounting software
Tax planning and compliance
- Tax filing requirements and deadlines (including payroll remittances, T4s, T5s, GST, T2 etc.)
- How to pay taxes and installments
- Setting up the My Business Account (MBA) and direct deposit to facilitate future correspondence with CRA
- Maximize your with tax benefits with planning advice regarding:
- Deductible expenses
- Splitting income among family members
- Compensation of shareholders (dividends vs. salary and how much to maximize tax benefits)
- Tax implications of shareholders’ lending to or borrowing from the company
- Deferring tax liabilities
Financial Statements
- Preparation of financial statements
- Analysis and explanations of your financial information so you can understand what the numbers mean and how they impact your business
- Providing reports such as a Notice to Reader, Review, or Audit reports that may be required by lenders or investors
Once a business is up and running, they are constantly navigating a changing world and updating processes and procedures as they grow. We can help you to streamline your processes, assist you when obtaining financing, and work with you to plan for the future. We can help by providing a variety of services such as:
Free Evaluation and Assessment
Review and asses your business processes and procedures, tax compliance, financial performance, debt/equity structure, shareholder compensation and financing structure for potential improvements.
Record Keeping
- Converting your accounting system to a cloud-based software such as QBO or Xero to streamline processes and provide real time financial information
- We can take care of your bookkeeping so you can focus on your business. We provide bookkeeping services using QBO or Xero and can perform payroll functions using these cloud-based accounting applications
- Providing templates or app recommendations to make managing your documentation simpler
- If you have gotten behind, we can help you get caught up and develop a system that works for you
Financial Statements and Analysis
- Generate, analyze and interpret monthly/quarterly/annual reports or when needed to facilitate your decision making process (such as revenue trends and variance analysis, gross margin, expense control, finance options and analysis etc.)
- Preparing financial statements or financial reports
- Assistance with business plans
- Budgeting and forecasting
- Providing Notice to Reader, Review, or Audit reports that may be required by lenders and investors
Tax planning and compliance
- Tax preparation and filing services (including payroll remittances, T4s, T5s, T5018, NR4, GST, T2 etc.)
- Work with you to ensure that you meet all deadlines and have perfect compliance with the CRA
- Maximize your tax benefits with tax planning advice regarding:
- Deductible expenses
- Splitting income among family members
- Compensation of shareholders (dividends vs. salary and how much to maximize tax benefits)
- Tax implications of shareholders’ lending to or borrowing from the company
- Deferring tax liabilities
Small public companies often have limited staff and resources but significant accounting and reporting requirements. We can help by providing a variety of services such as:
- Bookkeeping for smaller entities that don’t have in-house accounting staff
- Tax compliance services (payroll remittances, T4, T5, GST, T2 etc.)
- Controllership and virtual CFO services
- Quarterly preparation of financial statements under International Financial Reporting Standards (“IFRS”) and MD&A for Sedar filing
- Year end preparation of financial statements under IFRS and working papers for auditors
Not-for-profit organizations and condominium corporations often have limited resources and significant accounting and reporting requirements. We can help by providing a variety of services such as:
- Updating your accounting system to a cloud-based software such as QBO or Xero to streamline processes and provide real time financial information
- Bookkeeping services using cloud-based accounting services such as QBO and Xero
- Tax compliance services (payroll remittances, T4, T5, GST, T2, T1044, T3010, etc.)
- Financial statement preparation
- Generate, analyze and interpret monthly/quarterly/annual reports or when needed to facilitate your decision making process, apply for funding, or meet reporting requirements from funders
- Budgeting and forecasting
- Review and audit engagements
We have listed the regular services that we can provide to most of the organizations and businesses in the above sections. In the following situations (normally not happen all the time), we can also help in preparation of necessary documents, providing sound advices, and performing the jobs.
When you buy a business:
- Financial due diligence
- Tax advice on acquisition structure (should you purchase shares or assets, and their tax implications)
- Should you use holding company to buy shares of the target company
When you sell a business:
- Preparation of a well-informed selling package to attract more potential buyers
- Whether you should sell shares or assets
- How to prepare in advance in order to qualify life time capital gain exemptions (LTCGE)
When you borrow money from the bank or raise funds from investors:
- Business plan preparation assistance
- Pro forma financial statements
- Review and audit engagements
When you are involved in a lawsuit:
- Audit or review of financial documents and information
- Preparation of financial information and reports
- Providing communication reports as required in a Consent Order
We provide personal tax services which include:
- Basic personal tax returns
- Rental properties
- Business income for sole proprietors/unincorporated businesses
- Deductions of expenses from employment income (T2200)
- Investment income, capital gains and losses, and foreign investment reporting
We firmly believe that a thorough understanding of our client’s business and industry, including operating software, regulations, operations and procedures, and key performance indicators (KPIs), is critical to provide value added services and client’s success.
Fortunately, we have practical working experiences in a variety of industries providing services such as:
- Controllership/CFO
- Audits and reviews
- Financial statement preparation and analysis
- Cloud based accounting (QBO, Xero, and others)
We have significant experience in industries such as:
- Oil & gas
- Consulting contractors
- Realtors
- Real estate leasing
- E-commerce (including Airbnb/Amazon)
- Not-for-profit organizations
- Condominium corporations
- Restaurants and hospitality
- Personal services
- Retail
- Mechanical shops
- Construction
- Technology
- Other specialized industries
Due to our extensive experience we are able to work with you to gain an understanding of your unique business and tailor our services to meet your needs.
Competitive Prices
We are in a unique position where we are able to offer high quality services for a competitive price. While both partners are very experienced professionals with 30 years of public practice experience combined, and significant experience at a national firm, we are focused on keeping our overhead low so that our prices are significantly less than the big firms.
Fixed Prices
We believe in charging a fixed price so that there are no surprises when it comes to our bill. Traditionally, accountants have charged clients based on the number of hours worked resulting in uncertainty as to what the price will be at the end of the day. We recognize how important it is for businesses to have transparent prices that they can rely on.
Our initial consultation is free, and then we will work with you to provide a detailed quote for services that we will commit to, so that you can have the comfort of knowing what the cost will be in advance.
We believe it is important to take a hands-on approach with our clients. Our partners are directly involved with client work and are very accessible. We aim to return your emails and phone calls within one business day.
We believe it is important to have a strong relationship with our clients and therefore we ensure that there is continuity in who you work with from year to year. We want our clients to feel confident that they can reach out to us throughout the year whenever the need arises; as we want them to consider us their trusted advisors who can help them navigate the business world. Transparent and timely two way communications is very important to us to ensure that we can provide you with the best service possible.
As all of our clients are unique, we also believe in tailoring our services to meet our clients’ needs. We can provide all of our services electronically through email, phone calls, and virtual meetings but alternatively can set up an in person meeting or pick up your documents if that is preferable and better suits your business.
We strive to put ourselves in our client’s shoe and ask ourselves the following questions:
- What would we do if this was our own business?
- Have we maximized the company’s tax benefits?
- Have we used all appropriate tax deferrals, deductions, and income splitting techniques that are available?
- Would the company benefit from changes in the corporate structure?
- Can we identify any potential issues or areas for improvement?
For any business practice to be successful and achieve growth, you need a very well organized system in order to serve your clients and provide exceptional services.
We have very sophisticated IT systems to ensure that deadlines are met, that information can be exchanged seamlessly, and to facilitate our communications with our clients.
We can complete all work virtually through email, our client portal, and virtual meetings, although we still offer traditional in-person services as well.
Our website has a Client Portal where we can securely exchange information, an Information Centre where you can find up to date information, pricing, and other useful documents, as well as our Get a Quote system, where you can provide some basic details to receive an estimate of what our services will cost.
WHY WOULD YOU CHOOSE US?
As Chartered Professional Accountants (legacy designation Chartered Accountants), being recognized as the highest level of professional accountants across the country, not only will we help you in filing tax returns, preparing financial statements and completing other compliance work, we also provide financial insight and guide you through each specific challenge that you face during your business journey. When working with a Chartered Professional Accountant you can be assured that everything will be completed to the highest professional standard.
We are a firm with two hands-on partners with more than 30 years of public practice experience combined and 20 years of post-designation experience. While having an extensive knowledge of accounting, tax, assurance and business experience, we are also willingly to embrace the most advanced information technologies to provide more efficient and effective solutions to our clients and foresight in accounting services that will pivot you into a world driven by data.
FIRM PROFILE
We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success.
We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the assistance you receive comes from years of advanced training, technical experience and financial acumen. Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationship is indicative of our commitment to excellence.
To be the most trusted and respected accounting firm by providing innovative and practical services that contribute to our client’s success in an exceptional team environment, where our firm members grow professionally and can be responsible members of our community.
To provide businesses, entrepreneurs and individuals with the highest quality professional services delivered in a timely, efficient and innovative manner; and to meet our client’s needs through mutual financial success.
- Honesty, integrity and ethics in all we do
- Strive for excellence in the work we perform
- Respect our clients and treat them as we want to be treated
- Provide an enjoyable work environment
- Give back to the communities we serve