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;

– The setting up of trusts.

In fact, 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 first requires a review of an individual’s assets. Sometimes the objectives of an estate plan can be achieved by simply changing ownership or designating a beneficiary.

In preparing your estate plan we will review your assets, beneficiaries and will. We will then communicate with your lawyer, or if you wish, we can refer you to one of our own legal affiliates.

A properly structured financial plan enables you to face any challenge that may present itself at each stage of your life.

Using our financial planning process, we can help you assess your needs and develop strategies that will enable you to achieve your financial goals and strengthen your fiscal security.

As you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor structure an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return.

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.

Your budget 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. The road to failure is marred with too many companies that have not had adequate financial planning.

The fact is if you don’t articulate your projected costs and revenues over the course of a year, you have no way of knowing which direction you are going in or even which direction you want to head towards.

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

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 both 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 in a partner.

We will help you navigate this minefield 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.

We consider the preparation of financial statements as a means to an end not an end in itself. Although accurate financial statements are essential, understanding them and using them to make effective business decisions is more important: It is our job to help you in this regard by sharing our knowledge.

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

For those of you with simple tax returns or one source of income, there are many tax programs available that can help.

On the other hand, all kinds of decisions may come into play when rental properties, investment income, or unincorporated businesses are involved. These decisions require experience and expertise which cannot be provided by a simple tax preparation program. Nor can off-the-shelf software provide you with advice on how best to minimize your taxes now and in the future. We can.

The benefits of coming to our firm of qualified professionals almost invariably outweigh the costs.

Getting a financial institution to provide a loan can be one of the most difficult and stressful areas of running a business. Banks eye start-ups warily in particular since so many go under in the first few years. Achieving credibility with a financial institution is critical to success. Without bank support, you will have to finance the business out of your own pocket and unless you have very deep ones, growth may be unnecessarily constrained. Gaining credibility with a bank requires you to:

– Provide professionally prepared, credible financial projections.

– Ensure your own personal credit rating is favourable.

– Present a clear and credible business plan.

– Ensure adequate equity in the company. (In other words, there should be enough capital provided by company owners or internally generated funds.)

Presentation is everything. Good relations with a bank depend not only on the financial information you present, but on how you are perceived by the banker. Poor perceptions easily result in lost deals. As your Chartered Accountants, we are instrumental in insuring that any presentation made reflects favourably on you and your business. We are the effective liaison between your company and its financial institution(s).

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.

– What are 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 its business. A good plan makes people want to invest in your business.

We would certainly play a major part in the preparation of your business plan. Much of the information prospective investors are interested in is financial and include both historical data and projected statements of income and cash flow. We can help you put together a sound, credible business plan to get investors on board.