How We Help You

Of course we do the things that you would expect from an accounting firm, like preparing your year-end financial statements and tax returns. Tax planning for the coming year is usually done as part of the year-end process, but changes in your life may necessitate tax planning at other times of the year.

As the list below is by no means comprehensive, please feel free to inquire about a service if you do not see it listed.

(Click Service Title For Details)

Business Development Services

This is not about marketing or advertising. It's about helping you increase the value of your business, a business that works so that you don't have to.

The first step is to explore the possibilities by looking at the 4 Ways to Grow your Business. (this is represented by each of the steps in our firm's logo with the end result reaching the targets that you have set for your business). You'll see how small changes can have a profound impact on the profitability (and hence value) of your business.

The Next Step is the Planning Session. First you will complete a Business Development Questionnaire which will start to open your eyes to the aspects of your business that need improvement. After we have analyzed your answers on the questionnaire we will meet for a full day to explore your business to come up with an Action Plan. Note that I didn't say a Business Plan. Business Plans just gather dust, but an Action Plan is a prioritized set of initiatives and specifies what is to be done, by who, and by when.

Then we work with you to make sure that you stick to the Action Plan and measure the Key Performance Indicators against targets that we have set together. We will literally push you to do the things that you have committed to do. On your own it's easy to get FTI disease (Failure to Implement), but when you make a commitment to someone else you will move heaven and earth to keep that commitment.

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Corporation Year-End - It's More Than Just Financial Statements

Our mission is to give you peace of mind. When we work on the year-end statement for your corporation we do more than just prepare financial statements. More specifically, here's what you get:

Professionally prepared financial statements with "Notice to Reader" communication and corporate tax returns within the time frames that we agree on. (Note: Your bank may require a "Review Engagement Report" so we should review your bank agreement before we start working on your file).

Analysis of your corporate and personal income to determine mix of salary and dividends that will maximize wealth.

A Business Performance Review - this is a one-page report summarizing certain key performance indicators over the last 5 years and will highlight areas for improving proit and cash flow

A meeting with you to review the financial statements before they are finalized.

Unlimited telephone and email consulting privileges for any questions that you might have.

We will update your computerized accounting records for our adjustments and make sure your numbers agree to ours.
To save you the hassle of dealing with the tax authorities, we will follow up on any queries they have as well as review any statements and assessments you receive from them.

One dozen, homemade cookies.


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Quickbooks Installation and Training

Here's what you get:

Assist you with the transfer of balances from your present system into Quickbooks. We need your latest balance sheet, aged accounts receivable, aged accounts payable, and year-to-date payroll information (gross pay deductions and net pay for each employee - from January 1 to conversion date)

Initial training session. Here we show you the day to day workings in Quickbooks - creating invoices, entering vendor bills, receiving payments, making bank deposits, paying vendor bills, entering cheques and other payments. This way you're equipped to enter transactions from the conversion date to the current date.

Follow up training session. Here we see how you've done since our last visit and answer any questions you might have. We also show you how to reconcile the bank and introduce you to some of the other features of Quickbooks - like time-tracking, payroll, tracking revenues and costs by job, and producing reports.

Unlimited telephone consulting privileges for any questions that you might have.


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Estate Planning

Working with your lawyer and your insurance advisor we come up with a plan of distribution that first and foremost meets your wishes, and secondly minimizes taxes. The process is something like this:

Clarify your objectives - you (and your family) need to have a clear idea of how you want your estate distributed, according to your values. This is the most important step in the estate planning process. The remaining steps cannot be completed until this is done. 

Review your will(s)

Prepare a statement of net worth using information provided by you - e.g. financial statements of private companies, investment statements, etc.

Estimate taxes payable on death and how your estate would be distributed among your beneficiaries

Suggest strategies to minimize taxes within the constraints of how you want your estate to be distributed.

Of course it's not as simple as that and there are a lot of issues that arise as we go through the process. That's why you need a co-ordinated effort from your accountant, lawyer and insurance advisor, because each of us brings a different perspective and adds value.


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Corporate Re-organizations

Over time changes may be required to the share structure of your corporation, perhaps to bring in new shareholders or take advantage of tax incentives such as the capital gains deduction, or to set up a holding company for investments.

We work with you to clarify your objectives, then design a plan to re-organize the share capital of your corporation and communicate in detail with your lawyer. Then we follow up to make sure that it's done properly, and complete the required tax election forms.

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