Running a business is hard work and something you need to concentrate on. It is quite difficult to be able to do all things well and there are certain things you might not enjoy doing or you do not have the expertise, time or training in order to do them efficiently and effectively. As we all have limited time it is important to balance it between work, social, sleep and family obligations and there is very little time if any to do your bookkeeping, accounting, taxes and investment decisions.
It’s always best to delegate things to your trusted financial advisor your Toronto Accountant and your investment advisor who are experienced, professionally qualified, trained and licensed and have the time to keep up with ever changes in Canada Tax laws and economics and market conditions.
Your Toronto accountant is best your best source to handle the complexities of your tax returns and dealing with CRA on your behalf. Your accountant should work with your bookkeeping service to ensure that your books are being prepared so that the year end tax preparation is easier and that you are claiming and receiving all of the tax benefits you are entitled to. Your accountant is a great source for other financial advice for your business too. Helping you determine what your risks, goals and challenges are and providing you advice to achieve your desired success.
As your business grows and becomes more successful so does the money you may decide to leave in it and invest. You may require insurance in order to meet bank loan requirements or to provide income for dependants or loved ones. You need to decide what type of insurance to purchase and buying life insurance has many options available and its best to discuss it with your advisor.
As almost all Toronto accountants are not licensed to sell investments and insurance products they usually have a few investment advisors and/or financial planners who they work with who can assist them and their clients with their investment needs and assist in accumulating wealth and preservation of capital based which is based on assessment of your risks and financial goals.
Investments can range from stocks, mutual funds and fixed income investments both in your non-registered, registered account (RRSP), Tax Free Savings Accounts (TFSA) or Education Savings Plan (RESP).
Of the many investment advisors and financial planners I have dealt with over the many years I have been practicing public accounting here are just a few professionals in the Greater Toronto Area (GTA) who are always happy to take on small to large size clients and assist them to help them grow and achieve their financial goals.
Charles E. Michael, Edward Jones – 1779 Avenue Road, North York, ON M5M 3Y8 Tel: (416) 780-1991
George Robinson, BMO Nesbitt Burns – 255 Queens Ave, Suite 1900, London, ON N6A 5R8 Tel: (519) 646-2312
Monica J. Weissmann, Manulife Securites Inc. – 4101 Yonge Street, Suite 700, North York, Ontario M2P 1N6 Tel: 647-405-8535
Paymon Teymouri , TD Waterhouse – 8889 Yonge Street, Richmond Hill, Ontario L4C 6Z1 Tel (905) 707-6864
John Kattan , BMO Nesbitt Burns – 1 First Canadian Place, 40th Floor, PO Box 150 Toronto, Ontario M5X 1H3 Tel (416) 359-6907
It’s always best to ensure that your Investment advisor and accountant work together to ensure that you are reaching your goals and in a tax efficient manner.
Feel free to contact one of the above contacts or I would be pleased to personally introduce you to one of my contacts for investment and/or insurance advice.
Should you need Tax, Accounting or Bookkeeping services please feel free to contact me at (416) 398-1700 or fill out my contact form on the right hand side.
