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Blue Ink Accounting - Traditional Accounting, Traditional Services...

Blue Ink Accounting provides a wide range of services to individuals and businesses in a variety of industries. At Blue Ink Accounting, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

 

"The Family that does tax together, saves tax together"

 

Our professional services include:


Accounting Services

From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities, even the most qualified managers can benefit from competent, objective feedback. Blue Ink Accounting's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support with financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.

Our firm provides a full range of cost effective accounting services which include but are not limited to:

  • General ledger and financial statement preparation
  • Bookkeeping (Monthly, quarterly, or annual)
  • Accounting system setup and support
  • Payroll processing
  • Compilation and financial statements
  • Cash flow budgeting and forecasting
  • Personal financial statements
  • Employee benefit and profit-sharing plans
  • Corporate tax planning and return preparation
  • Estate planning and business succession planning
  • Debt and Bankruptcy consulting
  • Litigation support

Bookkeeping/Write-up

Accurate record-keeping is essential to a successful business yet it can also be complicated, and as your business grows time consuming. The qualified staff at Blue Ink Accounting can help you with the organization and day-to-day tasks of bookkeeping so that you can focus on your core business.

We offer both traditional bookkeeping services and virtual cloud based bookkeeping services.

Payroll Services

As a business grows, it must hire more employees, which can result in increased payroll administration.

Blue Ink Accounting's payroll services can help you reduce the time spent on payroll administration through developing and implementing a computerized payroll system that will facilitate processing, timely payment and preparation of payroll compliance returns.

Entity Selection and Restructuring

The decision to operate your business entity as either a sole proprietorship, partnership, or incorporated company has a large impact on your taxes and other liabilities. From your company's inception through its growth and development, Blue Ink Accounting can assist and advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will always be receiving the most advantageous entity type for the functions your business performs.

Accounting Software Selection, Implementation & Training

As technologies rapidly advance and the choices of accounting software packages available for small businesses and individuals increases every day, companies increasingly find themselves struggling with selecting the right software, and needing to update their computer systems. The decision has become even more complex with the increasing development and availability of cloud based accounting platforms. As accounting professionals, the team at Blue Ink Accounting has working knowledge of most of the popular software programs, and can help you choose and implement the software that best fits your needs.

Compilations & Financial Statement Preparation

Blue Ink Accounting's role in the financial reporting process for your company is an opportunity for us to provide constructive solutions to maximize the profitability and efficiency of your company.

Compilations

Compilations are usually requested for internal purposes and are based upon information provided by a company's management. They do not offer assurance but may involve some adjustment to accounting records.

Financial Statements

Financial Statements are often prepared as part of our compilation services, they can be a useful tool for your businesses management team when making financial decisions. Financial statements are prepared in accordance with professional standards, but do not express an opinion or other form of assurance on the underlying information included in them.

Tax Management Services

At Blue Ink Accounting, our policy is to take a proactive vs. reactive approach to the tax services we provide to our clients. We pride ourselves in being able to guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to achieve your financial goals. After all, "the family that does tax together, saves tax together."

Our commitment toward ongoing staff training, expertise, experience, analysis and thorough research allows us to optimize the financial opportunities found in existing as well as recently altered tax laws. We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and notices.

Tax services offered include, but are not limited to:

  • Tax planning for individuals and corporations
  • Return preparation for - Individuals - Corporations - Estates and trusts
  • Federal and Provincial Corporate tax compliance (GST, HST, PST, and QST)
  • Tax considerations in matrimonial settlements
  • Tax effects of buying/selling a business
  • Tax effective retirement and estate planning

Financial and Retirement Planning

Blue Ink Accounting's goal is to help you reach your financial goals and maintain financial independence through a comfortable retirement. We can guide you through tough decision-making processes such as asset allocation, investment performance monitoring, college education funding, retirement plans, insurance, and tax, estate, and business succession planning.

Financial Planning

A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life and/or your businesses life. By incorporating our knowledge of tax and other laws we work with you to structure a financial plan that is appropriate to your circumstances, and because we understand that things can change, we review this plan with you at a minimum on a yearly basis and adjust it for changes to tax and other laws as well as your circumstances.

Estate Planning

An effective estate plan will facilitate the orderly transfer of assets to your beneficiaries, and will provide security for your surviving spouse, and can reduce or eliminate the taxes due upon the transfer of your business and other assets or the dissolution of your business. If you are a business owner establishing provisions for business continuity and ownership succession is critical. At Blue Ink Accounting, we can provide you with the guidance to help you navigate though the complex maze of ensuring your financial affairs are in order.

We are at your service, whether you are developing an investment strategy or evaluating current investments, Blue Ink Accounting can ensure that your portfolio will take into account tax implications for an advantageous after-tax return. The road to retirement is a long one and we can help you to take the proper steps to reach your goals.

Estate and Trust Planning and Tax Preparation

Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Blue Ink Accounting's role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well-thought-out plan as to how to distribute the assets left in one's estate so as to avoid complications and to be sure that the individual’s wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don't have any complications to deal with during a time of loss.

Business Valuation & Succession Planning

The range of needs for valuing businesses continues to widen, and Blue Ink Accounting working in conjunction with reputable and trusted outside professionals, can provide in-depth analysis to help you identify and analyze the factors that drive the value of your company or one in which you have an interest.

Business Valuations

A professional and objective business valuation is a necessary component of many transactions, uses for this service include estate planning and compliance, buying and selling businesses, divorce matters, and family limited partnerships. There are so many factors that contribute to the perceived value of a business. Our expertise help can help you evaluate entities that you have an interest in and guide you towards making business decisions that you feel confident with.

Business Succession Planning

Transitioning your business in an effective manner to your successors is critical to its continued success and prosperity. Through our team's and trusted outside professional advisors' solid backgrounds in tax, succession and estate planning, and other financial and legal matters, we are fully qualified to undertake the complex processes of succession planning and business continuation.

Cash Flow and Budgeting Analysis

Good cash management can improve a company's liquidity, reduce costs, and increase profitability. Blue Ink Accounting can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow is something that can make or break the business' ability to survive. We can help you analyze your spending, re-balance your budget and/or debts for an optimal cash flow to support your business' success. This balance plan would be revisited if and when there were any major changes in your business structure to ensure that you are operating at an optimal level. With our help and guidance, you will always be on top of your finances and ready for the future.

Debt and Finance Advising

Whether your needs are corporate or personal, Blue Ink Accounting's professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and/or reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you are able to handle the payments and the amounts of your current debts, our expertise may be able to save you money and/or lower your payments.

We understand that uncertain times can have uncertain consequences. For those businesses that as a result of technological shifts and economic circumstances find themselves in the position of considering business or personal bankruptcy, our team of professionals both within and outside of our firm can help you navigate the serious and involved legal and tax complexities of the bankruptcy filing system.

Financial Projections and Forecasts

No one can predict the future perfectly, but we can all benefit from planning for it. Blue Ink Accounting combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Forecasting for the future is imperative to your company's success. We make it a point to keep current with market trends and updates so that your business can be prepared for what is to come. Depending on your needs, our work can range from top-level reports to detailed financial models.

Mergers, Acquisitions, and Sales

Business transactions and transitions are complicated affairs, and whether you're buying, selling, or considering a potential merger, Blue Ink Accounting can provide professional know-how to help you successfully structure and negotiate the deal. Blue Ink Accounting employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business for optimum success.


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