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LLP CHARTERED PROFESSIONAL ACCOUNTANTS

Accounting and Tax

Accounting services include the preparation of year-end financial statements, interim financial statements and pro-forma financial statements. The year-end financial statements can be prepared based on three separate levels of assurance. The level of assurance is the determining factor on the amount of work done.

Notice to Reader:

The lowest level of assurance – these financial statements are “plausible” in the circumstances.

Review Engagement:

The intermediate level of assurance – through the use of enquiry, analytical procedures and discussion, we report that the financial statements are, in all material respects, in accordance with Canadian generally accepted accounting principles.

Audit:

The highest level of assurance – through the use of generally accepted auditing standards we report that the financial statements present fairly, in all material respects, the financial position of the company, the results of its operation and cash flows in accordance with Canadian generally accepted accounting principles.

Corporate, Estate and Personal Tax Returns

We provide tax compliance services including preparing tax returns for corporations, individuals, estates and trusts. We also deal with the Canada Customs and Revenue Agency with respect to information, reassessments or audits.

Comprehensive Taxation Planning

We have tax specialists who advise individuals and owner-managed businesses concerning strategies that minimize taxes, including:

  • identifying all deductions and reserves allowable
  • maximizing the small business deduction
  • accessing your capital gains deduction
  • implementing family trusts and incorporating professionals to split income
  • success planning to minimize taxes when you transfer ownership of your business
  • estate planning to minimize tax in your estate on and after death

Merger, Acquisition and Corporate Reorganizations

There are many tax implications affecting buying, selling or reorganizing a business. We structure the transaction in the most tax effective way.

GST Consulting

We determine how GST applies to your business. This includes identifying goods and services that are not taxable for GST purposes, maximizing input tax credits, and designing your accounting system to minimize the risks associated in a GST audit.

Assurance

Assurance services include the preparation of year-end financial statements, interim financial statements and pro-forma financial statements. The year-end financial statements can be prepared based on three separate levels of assurance. The level of assurance requested is the determining factor on the amount of work done by the chartered accounting firm.

The lowest level of assurance is a Notice to Reader.

These financial statements are “plausible” in the circumstances.

The second level of assurance is a Review Engagement.

Through the use of enquiry, analytical procedures and discussion, we report that the financial statements are, in all material respects, in accordance with Canadian Generally Accepted Accounting Principles.

The highest level of assurance is the Audit.

Through the use of generally accepted auditing standards we report that the financial statements present fairly, in all material respects, the financial position of the company, the results of its operations and cash flows in accordance with Canadian Generally Accepted Accounting Principles.

Tax

Corporate, Estate and Personal Tax Returns

Lazer Grant provides tax compliance services including preparing tax returns for corporations, individuals, estates and trusts. We also deal with the Canada Customers and Revenue Agency if they request information, reassess or audit you.

Comprehensive Taxation Planning

Lazer Grant advises individuals and owner-managed businesses concerning strategies that minimize taxes, including:

  • identifying all deductions and reserves allowable
  • maximizing the small business deduction
  • accessing your capital gain deduction
  • implementing family trusts and incorporating professionals to split income
  • succession planning to minimize taxes when you transfer ownership of your business; and
  • estate planning to minimize tax in your estate on and after death.

Merger, Acquisition and Corporate Reorganizations

There are many tax implications affecting buying, selling or reorganizing a business. We can structure the transaction in the most tax effective way.

GST Consulting

Lazer Grant can determine how GST applies to your business. This includes identifying goods and services that are not taxable for GST purposes, maximizing input tax credits, and designing your accounting system to minimize the risks from a GST audit.