Tax Planning and Tax Return Services Stoney Creek, Hamilton, OntarioOur firm offers a wide range of services to our individual and business clients. Our clients benefit from personalized, quality service that is customized to their specific needs. Some of the services that we offer include:

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Tax Planning

Income taxes can take almost half of our earned income in a year. It is our goal to minimize the taxes that you pay. Some of the decisions that we can assist you with include:

  • Whether to incorporate or not to incorporate. 
  • How to efficiently draw money out of your business. 
  • Whether to buy or lease a car or other piece of machinery.

We have over two decades of experience and are well connected to a network of tax professionals who can assist in specialized areas such as estate planning, corporate restructuring and the preparation of legal documentation for estates and trusts. Our service comes to you prepared for any tax-planning contingency.

Estate Planning

Estate planning involves, but is not limited to:

  • The designation of beneficiaries for liquid assets like RRSP’s or bank accounts; 
  • The manner of ownership of assets - whether owned jointly or as tenants in common; 
  • The preparation of a will or multiple wills  
  • The setting up of family trusts.

Estate planning involves a lot more than just preparing a will and sometimes wills are not essential to an effective estate plan. Each case is different and requires a review of an individual’s assets. In assisting with your estate plan, we will review your assets, beneficiaries and current will. We will then communicate with your lawyer, or if you wish, we can refer you to one of our own legal affiliates.

Financial Planning

A properly structured financial plan enables you to face any challenge that may present itself at each stage of your life. You don’t plan to fail, but many fail to plan. 

We can help you assess your needs and develop strategies that will enable you to achieve your financial goals and strengthen your fiscal security.

Business Valuations

A professional and objective business valuation is a necessary component of many transactions, such as purchase, sale or reorganization of a business; shareholder and partnership agreements; matrimonial settlements; or estate proceedings. Our experienced team will provide you with an objective and accurate valuation of your business assets and goodwill.

Profit Planning and Budgeting

Budgeting is an essential tool in helping you achieve your overall corporate goals. It defines your company’s vision and helps you set reasonable guidelines for expenses.  

Our office can help you clarify your vision and develop parameters with you to help guide your expenditures.

Preparation of Annual Financial Statements

Financial statements are the most important documents prepared by your accounting system.

  • They inform you about the profitability of your company and are used in the calculation of income and other taxes payable. 
  • They provide both you and your bank with information necessary to make credit decisions.

Alternative accounting treatments may have consequences in the amount of tax your company has to pay; the way it is regarded by financial institutions; or the value attributed to the business in the event you want to sell it or take on a partner. 

We can assist you by clarifying the available options and the likely results of choosing any particular course of action. Not only can we insure that your statements are accurate, but we can communicate the information in a way that is easily understandable – even to those with limited financial experience.

Preparation of Tax Returns
  • Personal Tax Returns
  • Estate Tax Returns
  • Corporate Tax returns

Not everyone has a business, but if you are working or have different sources of income you must file tax returns. 

Our office has been assisting both individuals and corporate clients file their taxes for over two decades. Our goal is to minimize the taxes paid by you.  The benefits of using a tax professional will far outweigh the cost.

Business Financing

Our office has been assisting clients in obtaining financing since our inception in 1991. Achieving credibility with a financial institution is critical to your success. Failure to properly finance your operations will inhibit your company’s ability to grow. Our office can help you to obtain this credibility through:

  • Providing professionally prepared, credible financial projections. 
  • Assistance with a clear and credible business plan. 
  • Preparation of accurate financial statements
  • Professional liaison with your banker
Business Plan Preparation

The business plan is a document articulating your company mission. It spells out:

  • The business you are in. 
  • The market you serve. 
  • The results achieved to date, if any. 
  • The future financial projections of your company. 
  • Your long term goals and how your company plans to achieve them.

The business plan may be used to set up a credit facility with a financial institution or raise venture capital. It enables prospective investors and lenders to assess the credibility of your company’s management and business savvy. A good plan makes people want to invest in your business. 

Our office can assist with the preparation of the financial documentation required in your business plan as well as review the written content prior to your submission.

SRED Claim Preparation

Over the years and through our affiliated entities we have gained considerable expertise in filing SRED claims. The claim has essentially two components,

1) The accumulation of costs and preparation of tax filings for qualified projects.

2) The preparation of a technical submission detailing the technological uncertainties that confronted the business and innovations developed in resolving those uncertainties.

Let our office help you wade through the rapid changes in this area of tax legislation. 

Accounting and Bookkeeping Services

Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:

  • General ledger and financial statement preparation
  • Bookkeeping (Monthly/Quarterly/Annual)
  • Accounting system setup for new businesses
  • Payroll administration
  • Preparation of T4’s and T5’s
  • Compilation of financial statements
  • Audits and reviews
Audits, Reviews and Compilation Engagements for Financial Statements

We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:

  • Audit - an intensive examination with the highest level of assurance
  • Review - some analytical procedures conducted with limited assurance
  • Compilation – lowest level of assurance and used primarily for income tax purposes.

We look forward to serving you. Please contact us to set up a consultation to answer any questions or concerns and to find out how we can help with your accounting needs.