Service summary

1. James Abbott CPA & Associates Client focused first. Since 2008, our firm has been focused on helping clients feel more secure about their financial affairs. Our first step is always to listen to the client and determine what the client’s short term and strategic needs are. Our solutions are not off the shelf – each client is presented with a unique strategy or solution to help them save, pay less taxes and become better off. We help our clients get more organized and stay on top of payroll and HST filing through our bookkeeping services. We consult and advise on business start-ups and franchises. Business cases for financing are one of our specialties. We work with each client to develop safe income tax strategies to minimize the amount you pay. Corporate Tax Returns T2s are a strength area for our practice – we love working with owner managers to help them grow their business and capital. Bookkeeping: Our bookkeeping services at James Abbott CPA & Associates comes with many benefits over handling the bookkeeping yourself. Our staff are experienced bookkeepers. This means that we can reduce the hours that would have been required to do the bookkeeping, while providing an accurate product that can be painlessly transitioned for your tax filings and other accounting needs. Our experience also provides us with a strong understanding of what the CRA is looking for, on what things they are strict, and where they are more lenient. This can help us to maximize your savings and stay within the limits of the CRA in order to help avoid unnecessary fines or audits. Certified QuickBooks Pro Advisor: QuickBooks has 75% of the desktop accounting market because it’s the best. We are Certified QuickBooks Pro Advisors. We can help with anything from installation and set up to staff training. Let us help you get the most out of all of the information in QuickBooks. Ask us how we can save you up to 30% on your QuickBooks purchase. Certified QuickBooks Online Advisor: We are Certified QuickBooks Online advisors. We can help with anything from setting up your bank feeds, navigating and staff training. Let us help you get the most out of all of the information in QuickBooks. Ask us how we can save you up to 40% on your QuickBooks purchase. Payroll: We can help with: •Flexible Solutions – from texting in your employee hours to setting up dedicated email accounts, we make sending in your hours and payroll easy. •We’ll determine who requires CPP and EI taxes and make the calculations. •We’ll keep track year to date so T4s are quick and easy. •We’ll issue your ROEs – Record of Employment electronically for any employees.

2. •Take away the hassle – we can set up your employees on direct deposit. No more cheques to write. •We keep you in the loop. We can send your paystubs directly to your employees and copy you. •We’ll remind you when government remittances are due. Tell us how you want to be reminded –we’re good sending texts, emails or calendar invites.We’ll even phone if you like. •Personal Income Taxes – why a CPA is the best choice We’re professional, we’re experienced and up to date and we’re ready for your personal income taxes. We’ve got over 20 years of experience to help you file correctly and remain on the right side of CRA. Every year we retrain on what’s new in tax legislation, what interpretations and tax legislation changes have occurred and what’s coming down the pipe and how it affects your personal income taxes. We’re thinking multiple years ahead in counselling our clients on tax planning. You’re not looking for the lowest cost or the quickest –you’re looking for quality advice and service. We specialize in getting to know our clients, their personal income taxes history, and their objectives. We provide specific solutions and strategies to help you save money. We don’t believe that someone with a six week night school course who only works during tax season can provide competent and reliable service to their clients in a ten minute appointment. We’re available full-time year round and we have years and years of experience. We invest heavily in the best tax software we can buy. Our practitioner-only based tax software costs over 30 times more than the personal version. We feel that this investment pays our clients back 100 fold in savings opportunities and reduced errors. We are digital – not only are we registered e-filers we are also online with CRA’s Represent a Client. That means no more mailing or faxing documents; we can submit any receipts through an electronic window directly to your file. No more getting time stamps or waiting two weeks for CRA to confirm delivery of traditional mail. We take the time to explain your tax rights and opportunities. We can simply explain how a few simple changes can sometimes save thousands of dollars. We recently advised clients to change their RRSP contributions resulting in 10% more refund on every dollar. Clients that were taking care of elderly parents were able to claim two tax credits they were unaware of. The list of deductions and credits is long; knowing what’s available and when to use them is key.

3. Corporate Income Taxes require a CPA with experience We’ve got the expertise to professionally complete your corporate income taxes with the minimum tax liability. With over twenty years’ experience helping our clients grow their businesses and keep more money, we’re here to be your financial partner. We specialize in working with owner managed businesses in industries from Construction to Health Care to Retail to Transportation. Let our experience help build your business. There’s a lot more to preparing your corporate year end than your tax return. Your corporate year end must include both your Financial Statements and T2 Corporate Income Tax Return. In some cases, an audit of the Financial Statements must be completed. Most Banks will only accept Financial Statements prepared by a CPA. Your Financial Statements will include a Balance Sheet, an Income Statement and may include a Statement of Cash Flows and Notes. The Balances Sheet is a snap shot of your financial position at the end of the year –what you own, what you owe and what’s owed to you. The Income Statement is the movie about what was sold during the year and how profitable it was. The Statement of Cash Flows shows where the cash came from and where it was spent. As part of preparing the Financial Statements, we’ll review the accounting for each item in your financial statement to ensure the statements are accurate, complete and professionally present the results of your corporation. The Financial Statements become part of the Corporation’s permanent records. The Financial Statements should be approved by the Board of Directors and kept in a safe place. Your financial statements are the calling card for the financial wellbeing of your business. We can present your financial information in the best light for your business. Well prepared statements shed insight and understanding to your business. The T2 Corporate Tax Return includes the information from your financial statements but makes the adjustments to calculate taxable income and your tax liability. Some items such as meals are only 50% deductible whereas some income such as dividends from Canadian Corporations may not be taxable at all. We’ll review each item with you to ensure you’re the best positioned and best informed. Business Plans Perhaps you’re thinking about buying a franchise or have a great business idea that requires financing? Banks, Private lenders, and Angel Investors all require a business plan before lending or investing. We can help you prepare a successful business plan. We have worked with diverse businesses such as Franchises, Manufacturers, Health Clinics and Addiction Treatment Centers. The basis of your business plan is a written document describing your opportunity. There may be a power point based on the document. The best business plans reflect a reality that supports the opportunity but also reflects the challenges and threats to your business.

4. Growth and Profitability Consulting Do you feel busy all the time but don’t seem to making more money? Has the business grown but your income hasn’t? We can help you to earn more on each sale and keep more of each dollar. Question we can help with are: Which customers are most profitable? What customers are unprofitable? How can I have more free time? How do my margins look compared to my industry? How does profitability stack up against my estimates? Maybe your business has been cooking along for five or ten years but you’d like to take it the next level. Transitioning your business from a small business to medium size business is just as perilous as start-up was. We can help you refine your strategy and tools, skill and tactics to ensure that your business ends up on top.