D'AnnaTurnerMoore LLP - Home

By: Dannaturnermoore  09-12-2011
Keywords: financing, Tax

TurnerMoore associates are able to provide a full range of professional services for your business life cycle, from startup, through operations to the disposal of your business, ranging from audit and reviews through compilation and controllership, investments, technology and various specialized consulting services. Each TurnerMoore Group member has at their disposal the wealth of expertise and experience of the entire group to provide clients with assistance in meeting today’s needs and in planning for the future

We recognize that entrepreneurs take great pride in what they have built. We develop a full understanding of the clients business, including its history, in order to provide individualized professional services. TMG maintains a structure designed to serve your particular needs. One partner serves as your primary contact and is leader of the TMG team working on your behalf, while other TMG affiliates act as "professionals on call", providing a wide range of business advisory services, including financial and estate planning, computer and network consulting, development of business plans and financial projections, and general business advice to ensure that the entrepreneur fully exploits their own potential.

1 - Financial Reporting and Assurance

We are committed to providing quality professional services providing meaningful financial reporting that assists clients in improving the efficiency and effectiveness of their operations, increasing profit and minimizing tax liability.

We provide financial reporting on all three levels of assurance:

Audit - an intensive examination with the highest level of assurance, designed to help you meet the challenges of managing risk. Using proven audit procedures, we test the adequacy of your system of internal controls, compliance with generally accepted accounting principles, and the possibility of material errors being present in the data, resulting in an auditor’s report to the board of directors providing our opinion on the financial statements.

Review - some analytical procedures conducted with limited assurance. Using inquiry and analytical procedures, we review your financials to provide a basis for expressing limited negative assurance that we are not aware of any reason to believe that the statements are not in accordance with generally accepted accounting principles.

Compilation - based upon client information provided and used primarily for internal use, presenting your financial statements for information purposes only without expressing any assurance as to their accuracy.

2 - Accounting and Ancillary Services

TMG member firms offer all traditional general business accounting services, including:

  • Controllership support

  • Accounting systems design, implementation, and support

  • Financial statement preparation, business plans, loan applications, and corporate tax returns

  • Bookkeeping and internal management reporting

  • Payroll processing

  • Meeting your compliance reporting requirements

  • Computer consulting, training and support

3 - Taxation, Planning, Reporting and Compliance

At TMG we understand the tax challenges businesses and their owners face. We develop tax plans to achieve the objectives defined at both the personal and corporate level. Through our forward-thinking approach we customize effective tax plans that provide you and your business a competitive advantage.

Corporate Tax Planning

The underlying objective of any corporate tax plan will be to minimize current and future taxes. We prepare your corporate tax returns with this in mind. We recommend effective tax strategies that will defer and minimize taxes. We may accomplish this by suggesting changes to your accounting process or perhaps other changes that will improve your bottom line. Other alternatives may involve reorganization, amalgamation or a transfer of assets between business entities. We can assist the owner manager through additional strategies such as income splitting and customized remuneration packages. We can prepare and file your corporate tax returns, represent you in dealings with CRA, review and amend previously filed tax returns, and address any other corporate tax issues your business may have.

Personal Tax Planning

By preparing a proper personal tax plan you and your family will enjoy the benefits of tax minimization. Using state-of-the-art technology and maintaining continuous professional development standards, your TMG professional will have a thorough understanding of constantly changing tax legislation. A tax plan for an owner-manager will integrate both personal and corporate tax planning objectives with the ultimate goal of tax minimization. We work with you to ensure your short and long term goals are met, monitoring developments and recommending changes as required.

We can prepare and file your personal tax returns, represent you in dealings with CRA, review prior years’ tax returns and address all of other personal tax needs.

Commodity and Payroll Tax

In addition to income taxes, your business will also have to comply with numerous commodity and payroll related tax reporting requirements, such as RST, GST, WSIB, EHT and payroll source deductions. Your TMG professional will be able to assist you in designing a system to correctly report these taxes and ensure you take full advantage of the legislation while avoiding interest and penalties.

We can assist in preparing and filing the required tax returns, represent you in dealings with the relevant government agency, file objection notices, obtain and interpret legislative rulings, recommend compliance controls, review prior years commodity tax returns and address any of other commodity tax needs.

4 - Business Advisory and Management Consulting Services

TMG member firms bring an integrated approach to client business advisory and management consulting services. TMG experienced professionals with the specific skills and knowledge, assist clients in leveraging change and addressing the challenges of today’s business world.

Business Planning and Financing Proposals

Whether through growth and expansion, or a new business start-up, a sound business plan is key to developing and maintaining a viable business model. The most consistent causes of business failure identified are the lack of vigorous planning and the absence of measurable strategic goals.

This plan will also be required to support financing proposals. Through obtaining knowledge of client business in combination with our extensive experience, TMG member firms will assist in developing a business plan to satisfy the needs of target lenders.

Business Reorganization

Understanding the issues and needs of clients, TMG member firms will review the business operations and discuss long-term goals to recommend best solutions and alternatives for business restructuring. Our diversified and experienced team understand all aspects of business operations, financing, and tax implications. We strive to achieve optimal strategies enabling clients to meet their objectives and goals, minimize risk and maximize tax savings.

Information Systems Design, Implementation and Support

TMG member firms offer extensive services on a variety of leading financial software and systems. We can assist in analyzing your needs, sourcing and evaluating suitable solutions, designing and implementing installations to ensure you meet your productivity and efficiency objectives.

TMG member firms help clients improve their bottom line and cash flow. We become your partner in developing and achieving business success.

Starting a Business and Business Coaching

TMG members have the experience and skills required to help you properly evaluate opportunities, plan for and implement business startups, and arrange financing. Once implemented, we can assist in monitoring performance, updating and reformulating your business plan as necessary to ensure your success.

5 - Financial, Estate and Succession Planning

Through various estate planning strategies, your goals and objectives of ensuring that the greatest amount of the estate passes to your intended beneficiaries are met. As such, timely estate plans are critical to ensure wealth preservation and tax minimization, as well as providing for special needs of successors.

Succession planning provides for the continuity of your business as well as a chosen exit strategy should you withdraw from the day to day operation. This vehicle is often used to see that the family business is passed to the next generation and is the process by which suitable replacements are identified and brought into position at the desired time. Through careful planning, the succession of your business can be effected to meet your continuity and exit objectives as desired.

At TMG, we have experienced members who are qualified to develop comprehensive estate and succession strategies, in order to create plans that recognize your personal and financial circumstances and ensure that your specific goals are met.

Keywords: financing, Tax