Our firm offers a wide range of services to businesses and individuals. The services we offer are listed below along with a brief description of each. Please inquire about a service if it does not appear here.
We are committed to providing our clients with timely and accurate financial information. With the responsible, well-organized financial reporting we provide, efficient daily business operations are guaranteed. Our firm offers a full range of cost-effective accounting services, including
- preparing general ledgers and financial statements;
- bookkeeping on a monthly, quarterly, or annual basis;
- setting up accounting systems for new businesses;
- compiling financial statements.
Audits, Reviews and Compilations
Our role in financial reporting allows for the opportunity to provide constructive solutions in order to maximize your company’s profitability and efficiency. We provide financial reporting on all three general 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.
Responsible, well-organized financial reporting ensures an efficient, daily operation and is the foundation of any successful business. Our qualified staff can assist you with day-to-day bookkeeping.
Interim Financial Statements
We can assist you in preparing your financial statements in accordance with professional standards. However, we do not express opinions or any other form of assurance on the underlying information included within. The statements we produce can be useful for making business decisions.
Financial Forecasts & Projections
Forecasting is paramount when trying to effectively manage a business and make it profitable. From simple projections to complex financial modeling, our experienced staff will assist you in achieving your company’s financial goals.
Estate & Trust Tax Preparation
Effective estate planning facilitates the transfer of assets to your beneficiaries as well as 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, being prepared for business continuity and owner succession is essential. At Mongiat●Bernucci, we guide you through the complex process of getting your financial affairs in order.
Federal and Provincial Sales Tax (GST, HST, PST and QST)
Many of our clients are responsible for collecting and submitting sales tax. We assist your company in the compilation of information and the preparation of sales tax returns.
By keeping abreast of current tax laws and legislation we offer a proactive approach to tax services, allowing us to identify key tax planning opportunities that minimize clients’ current and future tax liabilities. This allows us to provide high-quality service and personal attention.
Planning is the key to success for any growing business. As a result, we ensure tax compliance and planning at all stages of financial statement preparation. We offer our individual and business clients important tax advice and services throughout the year, including:
- tax planning for individuals, trusts and corporations;
- preparing Canadian and US tax returns for individuals, corporations, estates and trusts, and the non-profit sector. (Please refer to the “Online Tax” section to read about how our individual clients can submit their tax information through a secure website.);
- federal and provincial commodity tax planning and compliance;
- tax considerations in marriage settlements;
- tax effects of buying or selling a business;
- representation services regarding notices of objection for income tax assessments and tax audits;
- assisting with and preparing Scientific Research and Experimental Development (SR&ED) Tax credit incentive Claims.
Eligibility questions for claiming the SR&ED tax credit incentive:
Do any of the following describe your current situation or that of your company, partnership, or trust?:
- Are you developing a new product or process?
- Are you working to improve existing products or processes?
- Are you invested in or have plans to invest significantly in technology?
If so, then you may be eligible to receive SR&ED credits from Revenue Quebec and the Canada Revenue Agency (CRA).
What is the time frame?
SR&ED claims must be filed within 18 months from the claimant’s fiscal year-end. Accordingly, you may be eligible for a maximum of two claims within a given period. Under no circumstance will the CRA allow late or incomplete submissions. Once the 18-month time frame expires, the potential entitlement is lost permanently.
For more information, on the SR&ED program, click here
Our success depends on the personal and corporate successes of our clients. We can assist your business in both identifying areas that may hinder profitability and growth as well as in developing solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following are but a few areas in which we provide consulting services:
- Accounting software selection and implementation;
- Business valuations;
- Buying/selling a business;
- Business process improvement;
- Computer systems;
- Financial & retirement planning;
- Estate planning;
- Other services.
The Personal Information Protection and Electronic Documents Act provides strict rules for the protection of personal information held by Canadian businesses. Not only is compliance mandatory for most commercial enterprises but commitment to privacy is also an important factor in your relationship with your customers. Our team can assist you in identifying privacy risks, developing policies and procedures, and implementing any systems or organizational changes necessary to ensure that all personal information in your possession is well protected.