Businesses

Accounting services:

• Bookkeeping/Write-up (Monthly/Quarterly/Annual)
• Accounting system/software setup for new or existing businesses
• Financial statement analysis
• Cash flow projections, financial forecasts and banking proposals
• Compilation financial statement preparation
• Budgeting analysis
• Payroll services
• T-slip preparation (T4’s, T5’s etc)
• Training for Simply Accounting and Quickbooks

Assurance services:

• Audit engagements and audited financial statements – Users of financial statements such as outside directors, lenders, or other stakeholders require credible financial information reported on by independent auditors. An audit is the foundation on which this credible financial information is based and provides the highest level of assurance.
• Review engagements and reviewed financial statements- For the majority of clients an audit of their financial information is not necessary. Most privately owned and managed businesses frequently do not require an independent audit of their financial information. In these circumstances we can offer a review engagement, which consists of discussion and analysis and provides limited assurance.

Tax preparation and planning

• Corporate tax return preparation and E-filing
• Corporate tax planning
• Tax implications in matrimonial settlements
• Tax implications of buying/selling a business
• Tax planning for retirement
• Assistance with government taxes (Harmonized Sales Tax (HST); Source deductions; WSIB, EHT)

Advisory services

• Business start-up or expansion
• Mergers, acquisitions, reorganizations, and sales of businesses
• Management advisory services
• Business valuations
• SR&ED consulting and preparation
• Offsite controller/CFO services
• Assistance in obtaining financing
• Representation and negotiations with tax authorities
• Tax, accounting and advisory services for regulated professional s (doctors, dentists, lawyers, architects, insurance brokers, travel agents)
• Business succession planning

SR & ED consulting

When you think of the term Scientific Research and Experimental Development you may think of test tubes and scientists in white lab coats. In fact, even the most basic development work which is carried out by most businesses in many industries may qualify as an eligible SR & ED activity.

There are three basic types of work that may qualify as SR & ED:

1. Basic research – activities carried out to advance a particular scientific knowledge without reference to a specific application;
2. Applied research – activities carried out to advance a particular scientific knowledge with a view to a specific application; and
3. Experimental development – activities designed to create new, or improve existing materials, products or processes.

Canada has some of the most generous incentive programs available for businesses that conduct SR&ED. There are four different incentives available:

1. An immediate write off of SR & ED expenditures, including capital expenditures, used 90% or more in the activity. Unused amounts can be carried forward to a future year;
2. Claim a federal tax credit of up to 35% of the eligible SR & ED expenditures against the Federal corporate tax liability. For some companies an immediate cash refund is available in the absence of a federal corporate tax liability;
3. Carry-forward unused federal credits ten years or carry-back three years;
4. Certain provinces administer their own SR & ED incentive programs which offer similar tax credits and immediate tax refunds for qualifying companies.

If a professional service you require is not listed, please contact us at 613-820-0335 or [email protected]