As a firm of Chartered Professional Accountants, FPA provides a broad range of services to meet the varying needs of its clients. We offer a broad spectrum of expertise from simple bookkeeping and payroll services to guiding you through the complexities of estate or tax planning.

Professional fees are based on a combination of the time and skill required to perform each service. Invoices are issued and are due upon completion of each project. Payment is required before we submit individual tax returns, unless you have made prior arrangements.

Accounting & Assurance

With over 40 years experience advising small and medium sized independent businesses, we provide the kind of information you need to make the right decisions. We understand what services would fit your unique situation and work with you to achieve your financial goals.

If you need the third party assurance that only an audit can provide, we will take the time to learn about your organization and then tailor our audit to suit your needs. We will use the information we gather during the course of our audit as an opportunity to make recommendations about your business or organization, to help you be more efficient.

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If you don’t require an audit, you may still need the added credibility of a review of your financial statements. While this entails a less intensive review of your accounting records, it still provides us the necessary information to make insightful recommendations about your business.

Perhaps our compilation services may be all that you need right now. A compilation is an extension of the basic accounting and bookkeeping services we offer to compile financial data into a financial statement format on a monthly or an annual basis.

As your business grows we can help meet your changing needs with cost accounting, financing proposals and other business information requirements.

No matter where you are in your business development we can make a significant contribution to your company’s performance.

Taxation

In addition to working on your business to make it successful and efficient, our objective is to keep taxes to a minimum. We work with you to develop an overall plan to accomplish that goal for your business.

Taxes can also have a large effect on your personal tax and estate planning. We can help you develop a long-range financial plan that takes into consideration tax implications of investments and the timing of deductions.

Tax Return Preparation

As Chartered Professional Accountants, our goal is to provide you with appropriate financial and tax advice, not just preparation of your tax returns. We are committed to being well informed of changes to tax law, new regulations and current developments concerning tax issues. This information will help you take advantage of all the deductions you are entitled to. In order to keep you well informed about current tax developments and legislative changes, we issue regular tax newsletters and publications highlighting current developments.

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We are knowledgeable advisors of income tax, provincial corporation capital tax, federal goods and services tax, and provincial sales tax. We can review your accounting systems to ensure that appropriate controls and systems are in place to help you to get the maximum refunds or tax credits you are entitled to and to ensure that taxes are being collected and remitted promptly.

Occasionally, there are issues that are not clearly dealt with in the tax legislation. As these issues are often decided by the courts, we regularly review court decisions pertaining to taxation in order to be able to provide you with appropriate advice concerning those ambiguous items. While we will always advise you of any possible actions that could benefit you, we will never advise you to take an action that is clearly not lawful, nor will we knowingly assist you to take such an action.

FPA prepares tax returns of varying complexities. All income tax returns are prepared by accounting professionals using the latest computer software that has been approved by Canada Revenue Agency and reviewed by a Chartered Professional Accountant. Income tax returns (personal and corporate) are filed electronically whenever possible. Although a return with any complexity can benefit from our high level of experience and professionalism, corporation tax returns or individual tax returns with investments, rental income, and business income should always be prepared by a professional.

Bookkeeping, Payroll & GST

Our regular monthly bookkeeping service can relieve the day to day stress of running your business. We look after writing up your cheques, deposits and invoices as well as reporting and remitting federal and provincial sales taxes.

We provide a complete payroll service including payroll calculation for any period, separation slips, payroll remittance reports and T4 slips at year end.

Management advice

Customers in all industries are demanding higher quality products and services, faster turn around, and dramatically lower costs. Balancing these demands with new, more stringent government regulations and rapid technological changes increases the challenge significantly.

To make the best possible decisions on all areas that affect your organization’s performance, you need sound, objective advice. You need a business advisor who is part of your management team. We have worked with clients to implement systems such as cost accounting in fully integrated farm operations and inventory controls for retail operations. We understand the individual needs of closely held small and medium sized businesses. Our professionals have broad experience and can provide the personalized advice you need.

Financing & Value estimates

Our advisory professionals will provide you with the financial and tax implications for business decisions that need to made. We consider the economic implications, the tax effects, and the financial statement impact of every transaction. If you’re planning to buy or sell a business, we can provide an estimate of value based on an analysis of all the available financial information. We can also serve as an independent negotiator on your behalf in the event of a purchase or sale.

Estimating the value of your business is a critical element in decision-making, tax planning, and estate planning. We have experience advising clients through the purchase and sale of businesses, financing proposals (including government assistance), financial restructuring, corporate reorganizations, family law disputes, and employee share ownership plans, and other tax-related transactions.

Estates & Trusts

You want to know that your loved ones are taken care of in the event of your death. We can guide you in setting up trusts and estates in order to minimize income tax, minimize probate fees, and ensure that your assets are distributed as you intended.

If you’ve been named as the Executor of a will, we can make you aware of what your duties are and guide you through this process with efficiency and care.

Research & Development

Canada’s Scientific Research & Experimental Development (SR&ED) investment tax credits are among the most lucrative. Tax credits of as much as 35% of eligible costs may be refundable, even if no tax is owing! We can minimize the administrative burden while optimizing your SR&ED claim.

In addition to offering advice on proceeding with your claim, we offer services that include:

  • Reviewing your business processes to identify and track eligible projects and costs
  • Preparing the technical reports for SR&ED projects
  • Identifying eligible SR&ED costs by project
  • Assisting in presenting your claim in the event of a CRA audit
  • Training your staff in the criteria and requirements of the SR&ED program

Contact one of our tax professionals to discuss your unique SR&ED concerns.