Edelkoort Smethurst Schein CPA’s LLP offers a wide range of consulting services targeted to a small businesses as well as large publicly traded companies. Services are customized to the client’s particular requirements. Please refer to our key areas of focus, and contact U.S. to discuss how we can deliver customized consulting solutions on-time, on budget to your meet the needs of your organization.
Financial management and literacy is important for all organizations. Edelkoort Smethurst Schein CPA’s LLP has led the development of financial management training and education for many years. The Firm has provided ongoing support to AFOA Canada in the development of management workshops and courses as well as worked with other organization across Canada to customize training courses and workshops. The most important deliverable is to present concepts in a way that is easy to understand and apply in the daily operations of organizations.
Buying and Selling a Business – Tax Advisory
Buying or selling a portion, or all of a business, is a decision that many Canadians are faced with during their lives. The tax implications of these transactions can be very complex, and should be taken into consideration and properly understood as part of the overall planning process. As an example, there are typically three models for selling a business: the asset sale, the share sale and the hybrid sale. The model used depends on the type of business, the industry and the relative needs of seller and buyer, and each model has different tax and liability consequences. The asset sale, is often preferred by the buyer. By purchasing only assets, the buyer avoids taking on the corporate liability that comes with purchasing shares and also benefits from increased tax deductions such as capital cost allowance that exceed the deductions available in a share deal. The share sale, is often favoured by the seller, who simply disposes of the shares and reports the resulting capital gain on their personal tax return; the appeal is that the seller may then be able to take advantage of a capital gains tax exemption that is not available in an asset deal. The gap these differing models can create between buyer and seller interests leads to the hybrid deal, which is often the case. Whether buying or selling a business, our Firm has the expertise and experience to unravel the complexity within these transactions and provide you with sound, practical corporate and personal tax guidance – all of which could save you a lot of taxes.
Interim Controller / CFO
The senior financial positions within organizations have always been very extremely important, but in recent years the demands have increased dramatically. With this in mind, it is a tremendous “value add”, when a company can have experienced and qualified financial managers to support their team on an interim basis. Ideally we would like to develop a long standing relationship with your company, to become familiar with your business, people and processes, so that we are able to jump in and out of interim financial management projects on an ongoing basis. However, often the interim requirements are one-time events, and that can be handled as well.
Edelkoort Smethurst Schein CPA’s LLP has many combined years of management experience including senior financial positions with publicly traded companies in energy, manufacturing, distribution, consumer packaged goods, health care, paper products and financial services. One of our partners is part of a group of independent financial managers who can provide interim controller / CFO services covering a wide range of requirements. The group meets on a regular basis to discuss best practices and availability to assist clients.