Accurate and timely financial statements are important to the success of a small business.

Financial statements can be used internally to assess the overall financial health of the business, identifying both strengths and weaknesses.

Financial statements in accordance with CSRS 4200 may also be required if you have financed the growth of your business externally and may be requested by your lender as part of their annual reporting.

Maintaining your accounting records are pivotal to the back office operations of your small business.

Having accurate and timely financial records will provide strong support to the CRA or other external auditors and allows business owners to make relevant and effective decisions.

At Carmichael CPA, we offer a variety of bookkeeping services to help ensure you stay up to date on all your accounting records.

Working with an accountant to help file your annual tax return can help find efficiencies in tax savings. However, there is a limit on how much you can save in tax by engaging with them only once a year.

Carmichael CPA will help prepare tax planning strategies to ensure that the decisions you make between each tax return deadline will optimize your annual tax savings.

It can be difficult to navigate through tax compliance requirements and stay up to date on amendments of the Income Tax Act that may impact you and your business.

At Carmichael CPA, we can help you overcome these challenges by assisting with preparation of T1, T2, T3, T4, T5 and T5013 annual returns.

Financial information is often used to help businesses assess financial performance.

Carmichael CPA has the tools to help you analyze your financial results in order to support future business decisions.

Our team can assess the business on relevant key performance indicators (KPIs) and financial metrics that will help provide colour on the business’ strengths and weaknesses.