Business Services

  • Evaluation and starting a business
  • Assessing various forms of business start-ups
    • Sole proprietorship
    • Partnership
    • Joint Venture
    • Cost sharing
    • Limited Company
    • Assessing Franchise Opportunities
    • Mergers and Acquisitions
    • Bank Financing
    • Budgeting and Cash flow projections – to help reach business goals
    • Business process improvement
    • Profitability analysis and enhancement

HELPING EXISTING BUSINESSES

AUDITING

  • To meet statutory requirements
  • Evaluate internal control systems and suggest improvements to ensure optimal financial reporting, maximize corporate profits and minimize risk of fraud, embezzlement and other irregularities
  • Business process improvement & profitability analysis

ACCOUNTING

  • Financial statement preparation, analysis and interpretation
  • Accounting system analysis – help provide more meaningful and accurate management information
  • Implementation of reporting systems
  • Analysis of financial reports
  • Benchmarking – compare your performance to industry averages in gross margins, net margins, turnover and other operating ratios

BOOKKEEPING

  • Monthly bookkeeping – including remittances for government taxes, HST, WSIB and union dues

TAXATION

  • Corporate income tax preparation
  • Corporate income tax planning – taking into account the family unit in conjunction with the corporation – both in the current year as well as future years
  • Compensation planning and strategies for small business owners
  • Tax loss utilization and strategizing
  • Use of holdings companies and other corporate structures

GOVERNMENT TAX CREDITS

  • Claiming Scientific Research & Experimental Development (SR&ED) Tax credits
  • Apprentice Tax Credits (ATTC)
  • Other tax credits

GOVERNMENT REPORTING ASSISTANCE

  • GST returns
  • EHT and WSIB returns
  • T4 and T5 supplementaries and summary
  • Contractor reporting

SUCCESSION PLANNING

  • Transfer to family members or other third parties – planning & implementation
  • Evaluation of alternatives to passing company to children or selling to third parties
  • Business valuation

EMPLOYEE BENEFITS AND COMPENSATION

  • Evaluation of alternatives to maximize employee motivation

VOLUNTARY DISCLOSURE TO CANADA REVENUE AGENCY

  • Used to eliminate penalties on unreported income, if done properly