What we do
Personal Taxation Services
Professionalism with a Personal touch!
We know that one of your main concerns is reducing your tax bill. This is best accomplished through a complete assessment of your income sources and expenses. Whether you’re an individual, a couple, a family, or even a student, we can help you obtain the best possible tax benefits.
We work with our clients to build a custom plan with charge-saving techniques that are specific to their particular circumstances. We stay up to date on all the constantly evolving complexities of the CRA tax code, and will be able to advise you on the range of tax-saving options that are open to you.
Regardless of your personal circumstances, our tax expertise will prove to be an invaluable asset. Our customized approach is intended to bring clarity and certainty to your tax issues, and to ensure that your tax profile matches your personal aspirations, whilst ensuring compliance.
Companies pay corporate tax, rather than income tax, on their annual profits. This is declared to the CRA on a corporation tax return at the end of your company’s accounting year, and is submitted to them with the full accounts and the calculated tax dues. We will take care of your company’s tax submissions, and can also advise you on the build-up of tax liabilities on a monthly or quarterly basis, so that there are no surprises at the time your corporation tax is filed.
Year End Accounts
We prepare accounts for submission to the CRA in line with recognized accounting standards as well as current legal requirements.
We can also prepare the Board Accounts for your company. These can be prepared on a monthly or quarterly basis to give management all the information they need to make sound financial and strategic decisions.
Business Incorporation Services
Are you considering starting your own business? Having your own business is both exciting and stressful! Planning how your business will operate and manage its taxes and accounts from the outset can help you avoid the pitfalls and ensure that your business gets off to a successful start. We can help you with such planning to make your that your business ends up where you want it to go. Services we can help you with as a new business owner include:
- Help with your initial business goals to clarify your management and financial goals.
- Selecting the optimal business structure for your business by evaluating the tax pros and cons, legal exposure, and other factors specific to your business situation, including the strategic use of incorporating to limit liability and provide the best possible options for minimizing taxation.
Accounting & Bookkeeping
As accounting professionals, we can give the technical analysis required to get you to where you need to be. This includes simultaneous tax/accountancy planning for you, your business, or both. Tax planning is largely the ability to adapt to change, and our commitment to constant client communication ensures that events in your personal and professional life do not lead to surprises at tax time.
We are able to take care of all your accounting procedures and deliver basic financial statements, such as:
- Income Statement
- Balance Sheet
- Statement of Cash Flows
- Bank reconciliations
- Period-to-period comparison
Taken together, these tasks form the minimum foundation required for a smooth operation of your small business accounting system. However, if your business demands more complex solutions, we can further customize the services you receive by adding payroll services, tax planning services, or any of our other services.
Whether it is dealing with vendors, managing customer relationships, or keeping your employees on the right track, maintaining a company’s books is burdensome! If not handled diligently throughout the year, it can cause unnecessary financial stress. We can take the stress off your shoulders by keeping your records intact. We can monitor each transaction your company makes for you to ensure that you can concentrate on the job of running your business and generating profits.
For our bookkeeping services, we provide the following on a monthly or quarterly basis:
- Reconcile your bank account
- Generate an income statement
- Generate a balance sheet
- Clean up your general ledger
- Provide consultations
How we can advise on audits
Auditing is about trust, and having confidence in your business and knowing you have the most accurate, fair view of its financial situation. As a general rule, audits also offer the highest level of assurance in any financial information provided to third parties. They include in-depth examination and confirmation of account balances, inventories, and selected transactions.
It is important to note that audits are not merely for public entities. Some nonpublic organization may also have a need to undergo an annual audit, such as those companies receiving government grants. Furthermore, some financial institutions may also require audits of nonpublic companies for loan applications, based on the financing amount and/or the bank’s assessment of the company’s risk. It can also be the case that companies with silent ownership, e.g. those owned by individuals who are no longer involved in the day-to-day running of the business, may require audits as due diligence of their management teams.
We can assist with your company’s audit requirements, so as to equip your company’s stakeholders with a neutral and objective view of the organization’s financial statements in order that they can make informed, strategic decisions.