Business Tax Services
Our experience has been that most new businesses get off on the wrong foot because of failure to be properly informed about all the issues. We can save you a lot of time and trouble by pointing you in the right direction with sound and comprehensive advice that is easy to understand.
If you are starting a new business, whether it is a sole proprietorship or a corporation, feel free to call us. Whether you need help with a business plan or projected financial statements, Tax Partners has the resources to set you in the right direction. You will appreciate how our knowledge and experience can help you make better decisions about your business. 82% of our clients are self-employed and small business corporations.
Let us help you today with:
- Incorporation / New business start-upStarting a business is a huge undertaking. Somewhere between finding your niche and finding success you have a lot of financial planning to take care of. Just getting a startup off the ground is a full-time job, so where will you find the time to plan for the future? You can lower your tax liability when you incorporate it. Don’t trust your future to a One-Size-Fits-All business incorporation website. Every startup has its own specific needs. We will identify yours and guide you through the process, start to finish.
- Accounting and financial reporting the need for financial statements may vary from year-end reporting to shareholders, to applying for loans, to selling the business. We will work with you to prepare your Notice to Reader for your business
- Financial statement preparation (Notice to Reader – NTR)A Notice to Reader (NTR) or Compilation Report is the production of unaudited financial statements. An NTR is simply information compiled from financial data provided by the client or bookkeeper. Most small and medium-sized businesses are only required to have an NTR done annually to meet the criteria for the Canadian Income Tax Act.
NOTICE TO READER REPORT/COMPILATION REPORT
Our team of accountants compiles the information from the financial statements provided and assembles the report into a standard financial format. This package includes the Notice to Reader Report, a balance sheet, and income statement; the possibility of notes too for financial statements. Minimal work is done to confirm the integrity of the financial statements is authentic to business activities. As the information provided is not required to be produced following GAAP (generally accepted accounting principles), users are left to trust the business owners’ honesty and record-keeping provided as accurate information.
The Notice to Reader/Compilation report along with the financial statements includes:
- Data compiled received from the client or the client’s bookkeeper to assemble into financial statements
- The report clearly states the scope and limitations of the report accuracy of the data was not verified
- Caution to readers the statements may not be applicable for their use
- The individual who prepared the report includes their professional status and the accounting firm
- Government reporting requirements help you stay on top of the filing and reporting requirements so you don’t have to do them on your own, and prepare your documents so your business is fully compliant.
- BudgetingBudgeting is a challenge for many businesses. We will look at your current situation and your plans for the future to determine how to best allocate your assets, plan for debt repayment, and build equity.
- Accounting software consulting and implementation there are many great products available to help you manage your company’s day-to-day finances. We can help you identify the best software for your needs and set it up so it runs correctly. We have no affiliation with any particular software company, but we’re familiar with many, so you can count on our unbiased advice.
- Financing your business whatever the reason you need funding—expansion, debt relief, innovation— we can help! We will work with you to determine your best source for that funding, how much money you need, and, most importantly, we will move you through the application process to secure it.
- Business Valuations Need to know how much your business is worth? Our accountants can assist with corporate reorganizations, evaluate a potential acquisition or sale transaction and provide support with family law issues such as the quantification and division of net family property.
- Acquisition & Divestment Are you looking to grow through a strategic acquisition? Is it time to sell your business and realize your personal goals? Our expert advisors can help plan and guide you through these complex transactions to meet your unique objectives.
- Corporate Finance Planning precedes success – do you need another perspective when evaluating your options? We can assist with budgeting, cash flow projections, the review of financing alternatives, risk management, and strategic planning.
- Forensic Investigations If you suspect fraud or another transgression within your company, swift and discrete action is imperative. Our team of investigative and forensic specialists brings a deep wealth of experience in enforcement, public practice, and regulatory matters. We gather the evidence you need to answer your toughest questions by combining accounting and investigative expertise. Working with you one-on-one, we respond quickly and confidentially to resolve your most sensitive issues.
- Litigation Support and Dispute Resolution Clear information let you deliver solid results in the courtroom. The thorough analysis, insightful reporting, and credible testimony our experts provide will help you advance your case with confidence. We know the markets you are in and have the bench strength to provide advice and litigation support on a wide range of issues, helping to resolve any dispute or uncertainty, from pleadings to final judgment.
Some of the services we offer are but not limited to:
- Quantification of Damages
- Shareholder Disputes
- Business Interruption
- Matrimonial and Estate Disputes
- Succession Planning Who will take the reins when you or other key team members move on? We can work with you to create a succession plan and help identify, develop and retain qualified employees who are aligned with your business objectives and capable of moving your business forward.
- Human resources Could you benefit from HR expertise, but do not want a full-time commitment? Our Certified Human Resource Professional and Leader (CHRP/CHRL) can help with the development of organizational practices and employee relations, talent acquisition, health and safety, training and performance management.
- Information technology We offers a full spectrum of value-added information technology solutions that improve efficiency, security and system reliability. We specialize in Enterprise Resources Planning (ERP) software, infrastructure and cloud solutions, custom software solutions and other IT services.
Our clients trust us to protect their financial and business interests. We work hard to earn and keep that trust.
Contact us today for a FREE initial consultation appointment at [email protected] or by phone at 905-836-8755