Services – Chartered Accountants in Edmonton

As a client of Gallo and Company Chartered Professional Accountants you have access to a full complement of services for all your business and personal needs. Specifically:

 

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Full Cycle Accounting

Information is critical for any business. You cannot make good and timely decisions about your business without accurate information. As a full cycle of accounting firm, we follow all the steps necessary to process business transactions and create a set of financial statements. We can ensure you have the information you need and – when you need it – to grow and manage your business.

 

  1. Choosing Accounting Software

 

Accounting software makes it easier for a business to track their financial health. When used properly, it can create invoices, track expenses and generate a variety of reports.

With so many different programs to choose from, picking the right accounting software for your business can be challenging. As Edmonton accountants, we will walk you through the costs, usability and features of a several software programs, ultimately helping you choose the best fit for your company.

 

 

  1. Preparation of Financial Statements

 

As Edmonton accountants, we use the information from your accounting journal and your general ledger to  prepare your business’s financial statements: the income statement, the statement of retained earnings, the balance sheet, and the statement of cash flows.

 

Some companies prefer to have their statements prepared monthly to keep a tight hold on their financial position. Other companies have longer accounting cycles. Either way, financial statements must be prepared at the end of the company’s tax year.

 

 

  1. Bookkeeping

At Gallo and Co, we can assist you with the ongoing financial recording of transactions that keep your business running smoothly. Should you choose to forgo accounting software, we can assist you in:

  • Processing invoices, receipts and payments
  • Running your payroll system
  • Preparing financial systems
  • Calculating GST
  • Managing A/R and A/P

 

As far as bookkeeping is concerned, are a wide variety of other tasks that an Edmonton accountant can perform. Like the above list, they are generally related to the ongoing maintenance of your financial records.

 

  1. Developing Budgets

A key component of financial data activity is in the creation of budgets. Learning how to properly establish a budget can help you manage your financial position. At Gallo and Co. we can help you create a budget that is ambitious – but realistic, as well as help you set goals, prioritize them and create a way to achieve them.

 

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Assurance and Review Engagements

Audits and reviews can be a stressful time for businesses; we at Gallo and Company have years of experience auditing small and large entities. We strive to not only fulfill the legal or contractual requirements for you, but provide additional value in the audit process. Specifically we will:

  • Develop an audit plan that puts your needs first
  • Ensure the audit or review is efficient, effective and relevant
  • Provide valuable recommendations around internal controls
  • Provide recommendations on reporting frameworks
  • Provide insight into corporate governance and best practices

 

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Tax

Whether you are a complex business or just filing your personal tax return, proactive tax planning is critical to ensuring you take advantage of tax legislation. As Edmonton accountants, our leadership is dedicated to maintaining a cutting-edge tax practice. This is achieved through intense training and continued professional development. Specifically we can help in all matters related to:

 

Corporate tax compliance

Canada’s tax laws are very complex and constantly changing. This makes tax compliance quite challenging for Canadian businesses, or foreign companies with operations in Canada.  Our tax professionals will ensure your returns are free of errors and submitted in a timely fashion.

 

Trust and Estate compliance and planning

Trusts and Estates have become an increasingly important area for tax planning. Expert advice is highly recommended due to the complexities found in the preparation and compliance of estate tax returns.

 

 

 

Owner tax planning

As a business owner, your fiscal year end is the perfect time to consider ways to improve your tax position. As Edmonton accountants we can help you review your business tax considerations, family tax considerations, compensations and investments.

 

Not For Profit compliance

At Gallo and Company we strive to keep your non-profit in good standing by complying with annual filing a reporting requirements.

 

GST and other provincial tax issues

Determining what services and products are taxable or whether you are should be getting an input tax credit to can be unclear. Whether you are at the audit, assessment or collection stage, Gallo and Co. can help you solve your GST-related issues.

 

 

Tax and Divorce

Lawyer fees, spousal support, child support and splitting property can all affect your tax situation. Gallo and Co. will be able to guide you through the financial side of your divorce, explaining who pays what and what it means for your taxes.

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Consulting and Other Services

Chartered Accountants are more than just number crunchers; we help you achieve your goals. For businesses Gallo and Company wants to be your strategic partner, in essence your CFO, and assist you in making the right decisions. For personal tax clients, it is about helping you retire the way you want. Specifically we can assist in:

  • Cash Flow projects
  • Lease versus Buy decisions
  • Buying foreign property
  • Complex corporate reorganizations and structuring
  • How to motivate and retain valuable employees
  • Audit and review information other than financial
  • Growth through acquisition
  • Business valuations
  • Planning around estates and retirements
  • Buying and selling businesses

 

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US Tax Services

We offer in-depth US tax services that include:

  • Tax preparation and filing,
  • Real Estate Rental Income from US properties, and
  • Sale of US properties and estate taxes.

To learn more about our US tax services, click here.

 

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