We help you with every aspect of your tax preparation and planning, including individual and corporate returns. We also offer a complete range of accounting and auditing services, including financial statement compilation, reviews and audits.
In the event of a tax audit, we are authorized to appear on your behalf before the Canada Revenue Agency.
Financial Statement Preparation
We prepare accurate and timely financial statements that you can present to your financial institution or third parties.
The statements are prepared as follows:
- Compilation Engagement – A Compilation engagement results in the preparation of unaudited financial statements, based on information provided to us by management. As a part of the process, we identify significant issues with the information, calculate taxes owing or refundable and make any necessary adjustments. This type of engagement is sufficient for many businesses but may not meet the needs of lenders or other third parties.
- Review Engagement: A review of financial statements is performed in accordance with Canadian generally accepted standards for review engagements, which require us to comply with relevant ethical requirements. It is a limited assurance engagement during which we perform procedures, primarily consisting of making inquiries of management and others within the entity, as appropriate, and applying analytical procedures, and evaluating the evidence obtained. The procedures performed in a review are substantially less in extent than, and vary in nature from, those performed in an audit conducted in accordance with Canadian generally accepted auditing standards. The objective of the review is to allow us to conclude that nothing has come to our attention that causes us to believe that the financial statements do no present fairly, in all material respects, the financial position of the entity as at the end of the period, and the results of its operations and its cash flows for the period in accordance with the applicable Canadian accounting standards (those for private enterprises or those for not-for-profit organizations). A review engagement provides more assurance to the users of the financial statements and is often requested by stakeholders, lenders and other third parties.
- Audit Engagement: An audit engagement provides the highest level of assurance on financial statements. It is conducted in accordance with Canadian generally accepted auditing standards and is designed to obtain reasonable assurance that the financial statements taken as a whole are free of material misstatement, whether caused by fraud or error. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
Tax Planning & Preparation
At Horizon Group we keep abreast of the most recent tax legislation, and our knowledgeable tax professionals will provide tax consulting services and strategies to help you maximize your tax benefits.
- Corporate income tax– We review the company’s taxes to ensure maximum tax efficiency through a review of alternatives such as salary vs. dividends, asset transfer into the company, etc. We efile your corporate tax returns.
- Personal income tax– We efile your personal tax returns.
- GST, Trust returns, Estate returns, T5 preparation for interest and dividends paid, T4 preparation and Payroll remittances
We are able to take care of registering your company for all the required filings. We can complete the forms for you, or we can assist you with completing them yourself. This ensures you file on time and that you know exactly where you stand each month. We take the stress and worry out of filing tax returns.
Additional Services Available:
General Ledger and Bookkeeping (Monthly/Quarterly/Annually)
Accounting System Setup and Guidance for new or developing Businesses