tax and accounting consultation services

© COPYRIGHT 2023 Appli Marketing Inc.

accounting and bookkeeping services
Chartered Professional Accountant logo

Contact

As your business develops, Centrim Professional Corporation can provide personalized strategic planning sessions for your business and your personal finances. If you encounter complex accounting or tax situations, we can get the answers and assist you with implementing tax and accounting strategies that will redirect your business in the best way forward.

 

Centrim Professional Corporation also works closely with Appli Marketing Inc. in providing business consulting, business development and marketing services that include optimizing your business practices and processes, and reviewing your margins and cash flows to determine how to best improve your products, services and bottom line.  Give us a call if you find that your business is struggling and needs some fine tuning and forward strategic planning to meet your financial requirements and goals.  We can evaluate your unique situation and provide recommendations to improve your financial position.

Tax and Accounting Consultation

Keeping good records and backup support for your transactions is critical to operating a successful business.

 

We are here to assist your company with your bookkeeping needs, whether you would have us take care of your monthly bookkeeping or assist you in the process of doing your own books. We are always available by phone, email, secure portal, or in person.  Consultation and advice on best practices, complex journal entries, or specific regulations is never more than a click or call away.

 

You may be in the process of choosing between various bookkeeping alternatives for recording your business transactions. We can assist you in choosing the best option for your business operation and assist in onboarding and implementation of accounting procedures and policies using best business practices. Linking up with Centrim Professional Corporation via virtual accounting software is an alternative that could save you time and money. If you are interested in virtual accounting, we'd be happy to assist you with recommendations and implementation.

 

It's all about you and choosing the best solutions to serve your specific business.

 

Payroll

We offer payroll services making the payroll process easy and seamless for both you and your employees. We can assist you with payroll processing, CRA remittances, Record of Employment (ROE) and T4 preparation and filing. Whether you choose to do your payroll or have us take care of it for you, we are here to answer questions and take care of the details. The employee standards have gone through several changes over the past years. We can be a reliable resource for ensuring that your payroll processing practices are compliant.

 

GST preparation and remittance

We are available to take care of your monthly, quarterly, or annual GST processing and netfiling. This service is also provided with monthly, quarterly, or annual bookkeeping services.

Accounting and Bookkeeping Services

Services

Whether you have a small-to-medium sized enterprise (SME), operate a not-for-profit organization (NPO), are a controlling shareholder of a large corporation, or an individual taxpayer, we can assist you in getting your tax returns filed. With vast experience in a wide variety of industries and business sectors we can assess your unique situation and provide advice and alternatives that best serve your needs.  

 

As much as we dislike taxes, they are a part of life we cannot ignore. The Canada Revenue Agency and the provincial government regulations are extensive and complex. At Centrim Professional Corporation we make it our business to stay on top of the changing legislation and tax requirements for you.

 

Give us a call to set up a free initial consultation on your tax filing requirements. This will enable us to assist you better in tax planning for the best outcomes for your business or individual situation by capitalizing on opportunities and minimizing risk and tax exposure.

 

Our services include but are not limited to:

 

  • Personal tax planning and filing
  • Corporate tax planning and filing
  • Charity and not-for-profit returns
  • Farm, business, and rental income tax return schedules
  • Real estate property purchase and sale capital gains analysis 
  • Capital dividend elections
  • Investment income portfolio tax reporting
  • Foreign specified property information returns
  • Advice on whether and when to incorporate and tax benefits 
  • Dividend versus wages strategic planning and filing
  • TOSI (tax on split income) evaluations 
  • Payroll and GST tax remittance and filing services

 

Too often corporate shareholders of SME's wait until their corporate returns are filed and taxes are due to plan their financial outlays and find themselves with a large tax bill at the end of the year. We can assist you with up front planning and work through the alternatives that can avoid these types of unfortunate situations.

 

We make the tax process easier by consulting with you on your various tax filing requirements (corporate, personal, or otherwise). This enables us to assist you in tax planning and alternatives analysis, capitalizing opportunities and minimizing risk and tax exposure.

 

Our e-filing procedures make taxes less taxing for you!

Corporate and personal tax planning and filing

Financial statements are critical in giving a picture of the health of your organization or business and in making sound management decisions. They are also often used by third parties or stakeholders. As business owners, it is important to understand the needs of the users of your financial information.

 

Users can include shareholders, investors, banks, government ministries and agencies, regulators, and the general public. These users have various needs such as making lending decisions, predicting the ability of the entity to generate cash flows, determining profitability, and making financial projections. 

 

There are three types of engagements that the accounting body has established providing different levels of service to entities.

 

Compilation Engagement

Compilations, previously known as NTR's or Notice to Readers, are the most cost-effective solution for small-to-medium sized businesses and are often adequate for the users of the financial statements. The objective is to compile the financial information into financial statements based on information provided by the client.

 

Review Engagement

A review provides limited assurance on the financial statements based on the application of Canadian generally accepted standards. Through enquiry and analytical procedures, the practitioner provides a conclusion on the reviewed financial statements. This process is more rigorous but is less costly than an audit.

 

Audit Engagement

An audit opinion provides the highest level of assurance based on the application of the applicable reporting framework. This higher level of assurance is often required by third party users and requires extensive additional audit procedures performed by the practitioner and the audit team to achieve reasonable assurance over the financial statements.

 

Whether you require an audit, a review, or a compilation, we are here to assist you in navigating the financial reporting complexities and accounting standards requirements. We work closely with our clients to better understand their unique circumstances, ensuring that decision makers and stakeholders receive relevant and reliable financial information.

 

Additionally, Centrim Professional Corporation provides further consultation, insight, analysis and other resources to help our clients better understand the financial information. These highlights are designed to enhance strategic business planning and growth for your company.

Compilation, review, and audit engagements

corporate and personal tax
services