Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company's financial goals.
As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
Tax Planning & Preparation
Tax planning and preparation form a winning combination for our successful individual and business clients. Our experienced staff can develop tax-minimization strategies to optimize your after-tax position.
Federal and Provincial Sales Tax (GST, HST, PST and QST)
Many of our clients are responsible for collecting and submitting sales taxes in many different jurisdictions. We can assist your company in the compilation of information and preparation of sales tax returns, and in controlling your sales-tax-related costs.
Estate & Trust Tax Preparation
Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
Harmonized Sales Tax Services (HST) - Ontario and British Columbia
Effective July 1, 2010 the provinces of Ontario and British Columbia will harmonize their provincial sales tax with the federal Goods and Services Tax. Harmonization has a significant impact on businesses operating in these provinces. We can advice on the tax implications under the new legislation, work as subject matter specialist in providing systems solutions to harmonized sales tax, create tax matrix and provide related services.
Management Advisory Services
Even the most qualified managers can benefit from competent, objective feedback. We can help your company's management team develop long-term objectives and specific strategies to facilitate your business' future growth and success.
Purchase and Sale of a Business
Preparation and planning are key to the successful purchase or sale of a business. Our team can assist you with all aspects your transaction, including valuation, cash flow analysis, tax minimization and transition planning.
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.
Successful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years.
Mergers & Acquisitions
Finding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations; product/service compatibility; competitive tactics and position; financial impact; and cash flow considerations.
Many promising businesses experience periods of financial stress. Our team of professionals can help you identify opportunities and risks, and assist with restructuring, refinancing, cash management and other services to help you put your business back on a sound financial footing.
Litigation support involves the quantification of economic damages pursuant to existing or pending litigation using accounting and auditing techniques. We have experienced staff who can compile information efficiently to assist in the calculation and documentation of any potential economic loss or damages.
Accounting and Bookkeeping Services
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.
- General ledger & financial statement preparation
- Bookkeeping (Monthly/Quarterly/Annual)
- Accounting system setup for new businesses
- Compilation of financial statements
- Audits and reviews
Review of tax assessments and tax appeals
Not all tax assessments are valid and tax appeals can be a complex process but we can add value with our expertise. In addition to having many years of experience in the field of taxation, interpreting the tax legislation, our associates as former tax auditors have an understanding of the administrative practices to deal with situation effectively.
Tax Savings and Exposure Review
CQK LLP can assist organization in paying optimum amount of taxes by providing an exposure review and an opportunity review. Exposure review includes identifying areas of non-compliance, quantifying the exposure, making voluntary disclosures and taking steps to correct the exposures. Opportunity review includes transaction analysis to identify over payment of taxes, quantifying the savings, filing refund and rebates as required. We can also review the tax processes, identity weaknesses and set up controls for proactive tax management.
International Financial Reporting Standards (IFRS) Consulting
International Financial Reporting Standards, or IFRSs, will soon become the new “Canadian GAAP” for publicly accountable enterprises (“PAE”). These standards, developed by the International Accounting Standards Board (IASB), will be incorporated into Canadian GAAP, and PAEs will be required to adopt IFRS for annual periods commencing on or after January 1, 2011.
Contact us to discuss how we can be of assistance to you and your company. The need to be able to discuss and present the changes that will be necessary under IFRS is fast approaching.
Managing tax audits
By having us manage your tax audits, you get the insight from the perspective of tax audits. As former tax auditors we can speak the language of the auditor and effectively manage the tax audits for our clients.