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We provide advice on various tax and financial issues faced by business owners and managers, such as:

Salary vs. dividends
Incorporation, proprietorship or partnership Financing alternatives
Financial forecasts and budgets

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We provide the following business start-up services for new business owners:

Assisting with Canada Revenue Agency (CRA) Business Account registration
Advising on tax considerations for hiring employees vs. contractors
Advising on payroll deductions and compliance
Accounting and bookkeeping systems set up
Advising on GST and PST filings

Financial Statements

Businesses require financial statements for users such as owners and managers, and for investors and financial institutions. We provide the following financial statement preparation and assurance services:

Compilation Engagement (Notice to Reader)

Review Engagement

Audit Engagement

In an audit engagement, we provide an independent and objective opinion that the financial statements fairly present a company’s financial position, financial performance and its cash flows. Generally, Canadian corporations are required to have an annual audit performed. However, some privately-owned corporations may waive this requirement by passing an annual resolution signed by all shareholders.

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We prepare tax returns to report business income as follows:

Sole proprietors report business income on their personal T1 tax return.
Partnership business income is reported by the individual partners on their personal T1 tax return.
Corporations report business income on a T2 tax return.
Other tax services we provide include the filing of T4 and T5 slips and summaries.

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We provide the following services to improve the performance and efficiency of business operations:

Audit (review) the operation of your existing computer system and accounting software, and provide recommendations
Assist in the purchasing decision and, if required, installation of a new computer or accounting system
Provide training and ongoing support to QuickBooks users
Consulting and development of web-based Line of Business applications