Owner Managed Business & Private Companies
L.A. Larson & Associates Ltd. is committed to exceeding our clients’ expectations by providing high quality, integrity based accounting and assurance services. We prepare our clients’ year end packages (financial statements and corporate tax returns) in an extremely timely and efficient manner.
Financial statements are for the most part, compliance based. In other words, they are required by financial institutions, shareholders’ and of course they are required in order to file your corporate tax returns with Canada Revenue Agency. As a result, many business owners do not feel that the process of having their accountant prepare these documents is something that adds value to their business.
At L.A. Larson & Associates Ltd., our goal is to add value to your business. When we meet with our clients to review their financial statements and corporate tax return, we discuss your results not only in terms of where your Company has been but more importantly, where you want your Company to be. Our many years of experience have provided valuable insights to our clients’, and assisted them in growing their business as well as their personal wealth.
By knowing our clients’, we are able to ensure that our clients’ goals are aligned with their current corporate structure. We make recommendations that enable our clients’ to maximize their after tax dollars, and maximize the value of their companies. After all, your business is a valuable asset.
Business Valuation and Litigation Support Services
Laurie obtained the designation of Chartered Business Valuator (“CBV”) in 2005 and is a member of the Canadian Institute of Chartered Business Valuators (“CICBV”). The CICBV is recognized as the accrediting body in the field of business valuation in Canada.
Depending on the nature of the work, a CBV might be engaged to act as an independent expert or in an advisory role. CBVs are often engaged to work in conjunction with other professionals such as lawyers, accountants and tax specialists. CBVs are recognized by the courts and business community as reliable experts.
As a CBV, Laurie has provided expert and advisory reports in regards to Guideline Income, matrimonial disputes, shareholder disputes, corporate restructuring and reorganizations; tax and estate planning and business sales and acquisitions. Laurie has also provided litigation support services to clients and lawyers in a wide range of areas, all of which required a quantification of damages and or losses.
If you are planning on selling your business, we can assist you in maximizing the value of your business. This is a process that should be started 3-5 years prior to the date that you would like to sell.
If you are planning on buying a business, we can assist you in determining the value of what you are purchasing.
We have assisted our clients in a variety of consulting assignments such as cash flow management, business acquisition or divesture, retention of key employees, and reporting to financial institutions. Many small businesses cannot afford the services of a fulltime Chief Financial Officer (“CFO”). We can provide those consulting services on an as needed basis, thereby making it affordable for small businesses to obtain the services of a CFO.
Trusts, Estate and Succession Planning
In order to ensure effective estate planning, we know our clients. We have advised our clients in regards to family trusts, holding companies, estate freezes and overall succession planning. The proper structuring of your affairs will ensure that your family’s objectives are met.
We prepare year of death returns (Terminal Returns), Estate Tax Returns and Trust Returns for family trusts.
Personal Tax Preparation and Planning:
Our personal tax clients get the same attention to detail that our corporate clients receive. During the course of preparing our client’s personal tax returns, we look for tax planning opportunities.
If you are self-employed or receive commission income, w e can advise you in regards to what is deductible and also provide advice regarding the benefits of incorporation.
If you own rental property, we can assist you in determining capital gains, change in use rules etc. There are many complicated rules in regards to the principal residence exemption and we have assisted many clients in this regard.
We provide bookkeeping services including the preparation of general ledger and trial balance, preparation and filing of GST; preparation and filing of WCB; preparation of payroll and payroll remittances; and preparation and filing of T4 Summary and related T4 Slips.