• Financial statements
The core information used to prepare tax returns, other information returns, financing applications, and to assess operations and identify opportunities for improvement. They must be accurate and timely to be most useful, but as an entrepreneur your time is likely best spent elsewhere. Contact me and we can discuss how you might produce timely accurate financial statements without using too much of your valuable time.
• Corporate income tax returns and tax planning
Far more tax planning is done at the corporate level with private businesses than at the personal level. There should be a long-term plan that provides general direction, but shorter-term plans are also required to deal with changing circumstances. Also, specific plans to address individual transactions can be warranted. Contact me to discuss your unique requirements.
I have been preparing and filing the required corporate income tax, GST, and various other information returns throughout my years serving private businesses. Contact me for advice or assistance with these.
• Cash flow forecasts and operating budgets
In my experience, many entrepreneurs have a pretty good idea of cash flows and where problems are expected. Putting those thoughts on paper not only reiterates these expectation and quantifies the magnitude of the potential problem, but assists when actions need to be taken to overcome shortages or invest excess funds to increase income. Financing is far easier to obtain with timely financial statements and properly thought out and documented cash flow and operating budgets.
• Operational assistance
Every entrepreneur I know will confirm that there are a seemingly endless number of operating matters that burn up the available hours. Buy vs. lease, chasing accounts receivable, operating system issues, reporting to stakeholders, key performance indicators, getting accounting records up to date and staying there, etc. These tasks not only take you away from the more profitable activities that you probably enjoy far more, but they likely increase your stress, and who needs that. Contact me and we can discuss alternatives.