Opening your business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.
How your business is initially incorporated with Corporate registries can have a big impact on the options available for remuneration and the deferral and reduction of taxes. From your company's inception through its growth and development, we can advise you on the optimal share structure, corporate tax planning and remuneration strategies.
A methodical plan of action is needed to fulfill your dream or goal of running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new business owners make when starting their new venture.
We can help you
- Determine your start-up capital needs
- Identify sources of start-up capital and backup sources if needed
- Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate
- Select the right accounting software by evaluating your budget, needs and hardware
- Establish procedures to monitor and control costs
- Setup a home office so you can maximize your tax deduction
- Identify all required provincial and local licenses and permits
- Prepare and file your application for your GST and business number
- Provide payroll and payroll tax filing when you bring on your first employee
- Comply with employment laws so you don't get hit with fines and unhappy employees
- Identify your business insurance needs
Small Business Accounting (Bookkeeping)
Running a small business takes time and dedication, and if you are like most small business owners, you have already got a lot on your plate. Why add accounting to your ever-growing list responsibilities when our team is on hand to help? We take care of your books for you, so you can get back to the job of running your business and generating profits!Click to add an engaging title. High quality images go a long way in looking professional online.
Each month or quarter our team will do the following things for you:
- Reconcile your bank account
- Generate an income statement
- Generate a balance sheet
These tasks from the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll services, GST/PST/WCB filings, tax preparation, or any of our other services.