Client Services
Our firm offers a wide range of services to our individual and business clients. Our clients benefit from personalized, quality service that is beyond comparison. We have listed the services that we offer to our clients, together with a brief description.
As the list below is by no means comprehensive, please feel free to inquire about a service if you do not see it listed.
Audits, Reviews and Compilations
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:
*Audit - an intensive examination with the highest level of assurance
*Review - some analytical procedures conducted with limited assurance
*Compilation - based upon client information provided and used primarily for internal use.
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Bookkeeping/Write-Up
Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping. We also assist with monthly bank reconciliations and special adjustments so that you have up-to-date accurate information to base your important business decision on. We can also assist you if helping with your accounting to cover holidays or for training new employees.
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Cash Flow & Budgeting Analysis
A business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company's financial condition, estimate financing requirements, and track cash-flow sources and uses.
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Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company's financial goals. We also assist with forecasts and projections to assist you in obtaining financing.
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Forensic Accounting
Our team includes a certified fraud examiner who can assist you in determing if theft has occurred as well as documenting and quantifying issues for criminal charges and/or insurance claims. We also have extensive experience in assist couples with the division of assets upon seperation and ensuring that all of the assets have been properly recorded and valued.
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Fraud Prevention & Detection
Our team includes a Certified Fraud Examiner who combines her skills as an auditor to assist you in establishing good internal controls to minimize fraud. We also apply these skills to assist in detecting fraud and theft.
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Tax Services
We prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include, but are not limited to:
*Tax planning for individuals and corporations
*Return preparation for
- Individuals
- Corporations
- Estates and trusts
- Not-for-profit organizations
*Provincial and federal commodity tax planning and compliance
*Tax considerations in matrimonial settlements
*Tax effects of buying/selling a business
*Tax effective retirement and estate planning
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Estate & Trust Tax Preparation
Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
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Tax Planning & Preparation
Tax planning and preparation form a winning combination for our successful individual and business clients. Our experienced staff can develop tax-minimization strategies to optimize your after-tax position.
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Accounting Software Selection & Implementation
With the number of computerized accounting software packages available for small businesses and individuals growing every day, selecting one that is right for you has become increasingly difficult. As accounting professionals, we have knowledge of most programs, either through personal experience, or industry literature. Our experienced staff can help you choose and implement the system that best fits your needs.
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Business Succession Planning
Effective transition of your business to your successors is critical to its continued prosperity. With a solid background in tax, succession and estate planning, and other financial matters, we are fully qualified to address the complex issues of business continuation.
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Debt & Financing Services
Debt management and the evaluation of financing options are issues that an experienced professional deals with every day. Let us use our experience to assist you in securing financing for your personal or business needs or consolidating your current debt to a more manageable level.
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Estate Planning
Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order. We've experienced loss with the passing of Geoff Widdis. Its made us all realize that life is short and how important it is to have a proper estate plan in place. It is vital for businesses to consider what will happen if a key person or shareholder dies. It is also very important for individuals to ensure they have up to date Wills and to review the tax ramifications of their Wills so there are no horrible surprises for the beneficiaries.
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Financial Planning
A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security.
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Purchase and Sale of a Business
Preparation and planning are key to the successful purchase or sale of a business. Our team can assist you with all aspects your transaction, including valuation, cash flow analysis, tax minimization and transition planning.
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Privacy Policy
We at Gibb Widdis CPAs Professional Corporation, value your business and respect your privacy. We respect the trust you place in us as your accountant when disclosing personal information.
CPAs, like all providers of personal financial services, are now required by law to inform their clients of their policies regarding privacy of client information. CPAs have been and continue to be bound by professional standards of confidentiality that are even more stringent than those required by law. Therefore, we have always protected your right to privacy. However, we have now formalized our existing policies to ensure compliance under the Privacy Act.
Types of Nonpublic Personal Information We Collect
Because you come to us for our expertise in financial matters, we collect nonpublic personal information about you. Due to the fact that much of the information we collect from you is sensitive information, all information is collected with your consent. In addition, information provided to us or obtained by us from third parties will be done with your authorization.
The type of information we collect from you is used for a variety of types of engagements:
-Tax returns (personal and corporate)
-Trusts
-Audits
-Review Engagements
-Compilation Engagements
-Bookkeeping
-Valuations
-Tax Planning
-Tax compliance such as filing T4 and T5 slips
Information such as tax filings and financial statements will be provided to you (the client) and to the appropriate government authorities. Should other individuals or institutions request your personal information, we will obtain your consent prior to supplying it to them. We do not sell or provide confidential information to anyone.
Parties to Whom We Disclose Information
For current and former clients, we do not disclose any nonpublic personal information obtained in the course of our practice except as required or permitted by law. Permitted disclosures include, for instance, providing information to our employees (in accordance with the terms of their employment), and in limited situations, to unrelated third parties who need to know that information to assist us in providing services to you. In all such situations, we stress the confidential nature of information being shared.
Protecting the Confidentiality and Security of Current and Former Clients’ Information
We retain records relating to professional services that we provide so that we are better able to assist you with your professional needs and, in some cases, to comply with professional guidelines. In order to guard your nonpublic personal information, we maintain physical, electronic, and procedural safeguards that comply with our professional standards.
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More Information
For more information on our Privacy Policy, please contact Colleen Gibb our office at
colleeng@gibb-widdis.on.ca
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