Accounting & Tax Solutions

Wealth Solutions Financial > Our Services > Accounting & Tax Solutions

We appreciate that every client has distinctly different requirements. Tell us about yours.

Accounting

Our team provides a complete range of accounting services for individuals, their businesses, corporations and nonprofits in these areas:

Financial statement preparationAudit / Review / Compilation (Notice to Reader)
Tax planningIdentification of opportunities and prevention of issues / Restructuring
Tax complianceCorporate, personal, trusts and estates
Outsourced accounting services
CFO duties
Bookkeeping & payroll Services – Learn more via this link
Commodity tax / Harmonized Sales Tax
Succession and estate planning

Tax

Tax is one of the most complex and challenging aspects of accounting. Our tax specialist team will protect your earnings and safeguard your assets. Our clients will receive full service solutions for their personal and corporate needs.

For individuals, business owners, and corporations our advice is practical and proven. We assist clients with income taxes, estate and succession planning, as well as numerous other income tax issues. Our strategies include trusts and alternative structures tailored to our clients’ diverse and complex requirements.

Letters from the CRA? Late filings? We can help. Our team has negotiated many tax settlements with the Canada Revenue Agency on behalf of our clients. So if you have trouble with CRA or not filed taxes in previous years and need to catch up, call us for expert help.

We provide services in the following areas:

Corporate and personal tax planning
Identification of opportunities and issues
Cross border issues
Transfer pricing
Mergers, acquisitions and reorganizations
Strategic estate and succession planning
Tax compliance
Corporate, personal, trusts and estates
Tax consulting
Harmonized Sales Tax (HST)

Audit & Assurance

Do you want more confidence in the financial and operational health of your organization?

Non-profit organizations and businesses require timely and accurate financial report for decision making purposes. Whether you’re a business owner, CEO, CFO, Controller or Board Member, we can provide guidance and services to assist you with your financial report requirements. Talk to us for a free cost benefit analysis on whether an audit or review is something you should consider.

Does your Business Really Need an Audit or a Review?

Business owners and organizational leadership may require an audit or review for the following reasons:

when planning for a new business venture
when seeking financing or when a current lender requires a financial statement
for retirement planning or the sale of a business
to meet a statutory or contractual requirement
to establish monitoring procedures

What are the Benefits of an Audit or Review?

Depending on your situation there are different engagements and with our professional help we can find the best return for you. Common benefits that will give you a good return on your investments are:

increasing financial reliability and integrity
the ability to negotiate financing or improved financing terms with lenders
peace of mind for business or organization stakeholders (investors, bankers, owners, leadership or board members)
higher business sale value (if you are intending to sell your business)
improved operational efficiency
improved shareholder relations
assessment of staff / employees so that training can be provided if needed
opportunities for cost savings

Business Advisory

Our clients are all in different stages of their business cycle: start up, growth, or in transition due to retirement. Depending on the stages and challenges you are facing, we can offer advice based on first-hand experience with business financials and planning. We’ll tailor our service to your needs, bring in our full service team, and support you when you need us.

Our business advisory services include:

Management advisory
Financial modelling
Business financing
Mergers and acquisitions
Corporate structuring and restructuring
Reorganizations
Divestitures
Due diligence
Cash flow projections
Exit, retirement and succession planning

Bookkeeping Services

Business Owners: Are you ready to save time and add a strong supporting network to your business?

Our bookkeeping services include:

an experienced, certified team with CPA oversight
a proven technology platform
monthly advisory and financial reporting
a world-class service rating

We provide bookkeeping services that are fully customizable and scalable based on your changing requirements no matter what business you have. Your organization’s shareholders will always have timely information and current financial reporting.

Bookkeeping Packages Can Include:

Correct set of up your Chart of Accounts
Bank / Credit Card Reconciliations
HST Recording and Remittance
Payroll Services
Payroll Filings
Financial Statements (for your personal records)
Year End Support: Includes working papers and support for the preparation of your year-end financials
Consultation with a Chartered Professional Accountant (CPA) for business advisory
Data migration from older software applications into QuickBooks Online
Wholesale pricing on your QuickBooks Online accounting software
Set up and training on bookkeeping technologies
24 Hour (or better) response time
Accounting services like year-end financial statements, corporate and personal tax return

Estate Planning

From now until 2020, statistics estimate an unprecedented 70% of Canadian business owners will be in a position to retire. Of those surveyed, 50% admit they are unprepared for succession in their companies. Changes and uncertainties can erode business value so it’s critical to get the right advice well in advance of your business sale.

For those who would like to sell their business or plan their retirement, our services include:

Business Transition:

Business valuations to identify the value of your business
Strategic planning and strategies to maximize value in your business
Tax compliance, tax efficiencies, tax planning
Asset protection techniques including trusts, estate freezes, and tax rollover elections
Consulting to ensure the correct steps to buy, sell or transition ownership of a business
Analysis of risk factors, and ways to mitigate risk factors
Compensation and shareholder agreements
Timing, costs and common issues that can arise during transition
Profit sharing plans & pensions for retiring and new owners

Retirement & Estate Planning:

Pension planning
Tax issues for snowbirds and those living in the US or outside of Canada (cross border)
Estate administration and freezes
Family trusts
Advice on selection of wealth manager and diversification of investments