Are you earning maximum profit from your business?
Is your business economic downturn or recession proof?
Can you take money out of your business comfortably without feeling guilty?
Do you have the right people, processes and tools in your business?
Do you have a succession plan or an exit plan for your business?
Do your finances keep you up at night?
Do you have systems and tools that help you review your past, keep on top of your current affairs and forecast your business's future?
You Will Save Time - Focus on what you do best and outsource the rest
You Will Pay Less Tax - One of our main focuses is to help reduce the tax your business pays by ensuring you are taking advantage of every strategy available to you through optimizing all your available deductions and organizational restructuring.
You Get Expert Advice - We are your sounding board. We are here to listen to your ideas, plans and goals and help you draft the best financial roadmap to accomplish each and every one of them.
You Will Have Less Financial Errors - By having our team review your transactions every month you get the double check you need to ensure when items are submitted to the government they have been reviewed and you can ensure their accuracy.
You Will Reduce Your Accounting Costs - Most businesses save money in their accounting department by leaning on an external fractional team. The accounting costs we bill your business are generally cheaper than having a full time internal team member on payroll.
You Will Have More Tools - We don't just do record keeping. We work with your management team to turn your records into reports that help you read, analyze and understand your business.
Our team works directly with entrepreneurs, owners, and management to improve a company’s long-term financial health. We become part of your team, bringing our diverse experience and network of resources. Most CPA and bookkeeping companies do not have in house CFOs, which means you will have to do your own forecasting, variance analysis, budgeting and capital strategy.
When you partner with us, we can have our CFOs, Accounting and Bookkeeping Teams work together for greater synergy and a sounder strategy.
A fractional CFO is an experienced CFO who provides services for organizations in a part-time, retainer, or contract arrangement. This offers a company the experience and expertise of a high-end CFO without the in-house cost—salary, benefits, and bonuses—of a full-time CFO.
Unlike a full-time CFO who oversees and maintains all general financial strategy or an interim CFO who performs CFO duties before or between CFO hires, a fractional CFO’s duties are typically on a project basis and specifically tuned to the company’s particular challenges or goals. Fractional CFOs most commonly partner with companies to help overcome financial challenges, achieve growth, optimize strategy, implement systems, raise capital, or navigate an audit or transaction.
Help Overcome Financial Challenges
Achieve Growth
Optimize Growth and Review Long and Short Term Financial Strategies
Raise Capital
Risk Management
Create Or Review Budgets, Cashflow Worksheets and Financial Projections
Navigate an Audit or Acquisition
Implement Updated or New Software Solutions
Create & Launch Franchise or Licensee Programs
Hiring a full-time CFO can be expensive, especially for small and medium-sized businesses. Fractional CFO services allow companies to access high-level financial expertise without the cost of a full-time salary and benefits package.
Fractional CFOs typically work on a part-time basis, giving companies the flexibility to scale their financial management needs as their business evolves. This flexibility is particularly valuable for startups and growing companies that may not require a full-time CFO initially but need access to financial expertise on an as-needed basis.
Expertise
Fractional CFOs are often highly experienced professionals with diverse backgrounds in finance and accounting. They bring a wealth of knowledge and expertise to the table, helping companies make informed financial decisions, develop strategies for growth, and improve overall financial performance.
Strategic Guidance
Fractional CFOs can provide valuable strategic guidance to help companies achieve their long-term financial goals. They can assist with financial planning, budgeting, forecasting, and risk management, ensuring that businesses have a solid financial foundation to support their growth and success.
Efficiency
Fractional CFOs are often highly experienced professionals with diverse backgrounds in finance and accounting. They bring a wealth of knowledge and expertise to the table, helping companies make informed financial decisions, develop strategies for growth, and improve overall financial performance.
Access To Networks
Fractional CFOs can provide valuable strategic guidance to help companies achieve their long-term financial goals. They can assist with financial planning, budgeting, forecasting, and risk management, ensuring that businesses have a solid financial foundation to support their growth and success.
Our offerings are fully customizable to meet your needs and budget. We start with your current system and build up, so you can avoid costly and unnecessary software transitions. We are obsessive about client security, so you don’t have to worry about the safety of your data.
Receipt and Expense Tracking
Accounts Payable Management
Accounts Receivables Management
Bank, Credit Card & Loan Reconciliations
Chart of Account Set Up and Management
Inventory Support
GST/HST/PST Reporting and Filing
Reporting: Profit & Loss, Balance Sheet, Comparison and Current, Cash Flow Statements, Forecasting Support
Expertise and Accuracy
External bookkeeping teams typically consist of professionals who specialize in financial record-keeping and reporting. They have the expertise and knowledge to accurately manage your company's books according to accounting standards and regulations. By outsourcing bookkeeping tasks to a dedicated team, you ensure that your financial records are accurate, up-to-date, and compliant, reducing the risk of errors and financial discrepancies.
Time and Cost Savings
Outsourcing bookkeeping can save your company time and money. Instead of hiring and training in-house staff or trying to manage bookkeeping tasks yourself, you can rely on an external team to handle these responsibilities efficiently. This frees up your time and resources to focus on core business activities and strategic priorities. Additionally, outsourcing bookkeeping eliminates the need for investing in software, infrastructure, and ongoing training for in-house staff, leading to cost savings in the long run.
Your payroll process is more than just a necessary business function—it’s a tool that manages important expenses and obligations and helps ensure employee trust with timely and accurate payment.
Poorly managed payroll can mean staff turnover, tedious manual calculations for statutory holidays and vacation pay, falling behind with legislative changes, and errors in year-end government agency filings. Payroll mistakes can lead to significant penalties and interest on reassessment. Outsourcing payroll addresses these risks and saves time and money.
Weekly, Bi-Weekly, Semi Monthly Managed Payroll Services
WSIB
WCB
Source Deductions - Monthly Remittances
Tax Payments
Annual T4s
Record of Employment (ROEs)
With our expertise and attention to detail, you can trust us to handle all aspects of your corporate accounting year-end needs efficiently and accurately. Let us help you streamline your year-end processes and ensure compliance with regulatory requirements while maximizing tax savings and optimizing your financial performance.
With our expertise and attention to detail, you can rest assured that your business will be set up for success in Canada. Let us handle the complexities of the incorporation process so that you can focus on growing your business with confidence.
With our personalized approach and attention to detail, you can trust us to handle all aspects of your personal taxation needs with professionalism and expertise. Let us help you navigate the complexities of the tax system and ensure that you achieve your financial goals while minimizing your tax burden.
With our CRA Audit Support Services, you can have peace of mind knowing that you have a dedicated team of experts on your side, fighting to protect your interests and achieve the best possible outcome. Let us help you navigate the complexities of a CRA audit with confidence and ease.
Tanya Smyth
Sarah Williams
First and foremost, the expertise and guidance I receive from Danielle is unparalleled. It's obviously from the first conversation that she has years of experience in financial management and strategic planning. Every week she brings a wealth of knowledge to the table and helps me navigate complex financial decisions with confidence. Her insights are invaluable in optimizing my business's financial processes, identifying cost-saving opportunities, and setting realistic goals for growth.
Moreover, the flexibility of the program is a game-changer for my business. Instead of committing to a full-time CFO hire, I get to access high-quality financial leadership on a part-time basis, which is both cost-effective and efficient. This allows me to benefit from expert guidance without the overhead of a full-time salary, giving me the flexibility to allocate resources elsewhere.
Overall, I can wholeheartedly recommend the Fractional CFO program to any business looking to elevate their financial management practices. Danielle's expertise and personalized approach, has made her an indispensable partner in my business journey.
Rachel Bigg
We offer support services in Google Docs & Sheets, Dext, and Hubdoc.
We offer support services in a variety of CRMs, Payment Processors, HR/Payroll and Ecommerce programs such as Shopify, WooCommerce, Lightspeed and more.
Small businesses in Canada can claim various expenses as deductions on their taxes to reduce their taxable income. It's essential to keep detailed records of these expenses, including receipts and invoices.
Here's a list of common expenses that Canadian small businesses can claim on their taxes:
Supplies: You can claim expenses for office supplies, stationery, disposable supplies, and small tools and equipment necessary for your business operations.
Professional Fees: Deduct fees paid to accountants, lawyers, and consultants for business-related services.
Advertising and Promotion: Expenses related to advertising, marketing, and promotional activities, such as advertising campaigns, website development, and social media marketing costs.
Insurance: Premiums paid for business insurance, including liability, property, and vehicle insurance.
Vehicle Expenses: If you use a vehicle for business purposes, you can claim a portion of expenses like fuel, maintenance, and insurance. Be sure to keep a mileage log. (If you don’t keep a mileage log understand there’s a higher chance of being denied your expenses, but at bare minimum keep all your receipts)
Part time businesses generally claim 30% of their vehicle expenses
Full time businesses generally claim 60% of their vehicle expenses
Business Meals and Entertainment: A portion of expenses related to business meals and entertaining clients or partners can be deductible.
If it’s while you’re working and by yourself, you can claim 50%
If you take a client out it’s 100%
Travel Expenses: Deduct expenses for business-related travel, including airfare, accommodations, and meals while away from your business location.
If you’re traveling more than 30km away from your home - it’s travel
Interest on Business Loans: You can claim interest paid on loans used for your business.
Depreciation: Capital cost allowance (CCA) can be claimed for the depreciation of assets such as equipment, machinery, and vehicles used for business.
Home Office Expenses: If you operate your business from home, you can claim a portion of your home-related expenses like utilities, rent, and property taxes, based on the percentage of space used for business.
Typically you can claim 20% if you do not run any physical services out of your home
If you run a physical service out of your home you can claim up to 60% - Salon, Nail Salon, Photography Studio, Professional Services, Medical Services etc
Internet and Phone: Expenses for internet and phone services used for business purposes.
Internet is typically 20-40%
A Personal Phone is typically 40-60% depending on use
If you have a dedicated business phone you can claim 100%
License and Permit Fees: Fees paid for business licenses and permits are generally deductible.
Bank Charges: Deduct bank fees and charges related to your business accounts.
Maintenance and Repairs: Expenses for maintaining and repairing business assets and property can be claimed.
Dues and Subscriptions: Membership dues for professional organizations or industry associations are typically deductible.
Education and Training: Expenses for training and courses related to your business can be claimed. Some personal development expenses can be claimed such as a business coach.
Charitable Contributions: Donations made by your business to registered charities may be deductible.
Salaries and Wages: This includes employee salaries, wages, and any benefits or bonuses paid to employees.
Subcontractor Payments: Expenses paid to external contractors are typically deductible.
Facility Rent: Deduct the cost of renting an external office or workspace, including lease payments for commercial property. This is a space that is not your home.
Facility Utilities: Expenses for electricity, gas, water, internet and telephone services are deductible.
It's crucial to keep accurate records and consult with a tax professional to ensure that you're following Canadian tax laws and regulations, as they can change over time. Additionally, some expenses may have specific eligibility criteria, so it's essential to verify with the Canada Revenue Agency (CRA) or a tax expert.
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