Go Further

At Kagan & Kagan, we understand how vital accurate accounting is for any business, regardless of size or industry. It keeps track of where the money comes from, and just as importantly, where it goes. Without it, companies cannot have a complete picture of their financial standing, including what they owe, who owes them, and their cash flow. 

Our Chartered Accountants offer a variety of services that fit the needs of any company. Our team can work with you to maximize your credits and deduction to minimize your tax burden and conduct review engagements to create reports that will assure your banks and investors of your operation's financial viability. Our team can also set up systems that will help identify inefficiencies, ensure you follow the latest regulatory reporting standards, and find ways to eliminate waste.

We build trust with our clients by providing timely and accurate advice and guidance. Our team adds value to your operations by addressing your needs with the ability to scale up as you grow. We can provide long-term solutions or help in a pinch, all with the focus of driving your business forward. The accounting services we provide include:

• Financial statement reporting 

  • Notice to Readers

  • Review engagements

  • Audit engagements 

  • Special audit reports

• Year-end financial reports

• Tax structures and planning

• Corporate tax returns (T2)

• Personal tax returns (T1)

• GST/HST

• Canada Revenue Agency (CRA) support

• Financial planning

• Business advisory services 

At Kagan & Kagan, we build relationships by keeping your best interests in mind with all that we do. Contact us today to see how we can help make sense of your financial situation and achieve your goals.

As the old saying goes, the only certainty in life is death and taxes. Kagan & Kagan offers a wide range of taxation services for both individuals and corporations. We can work with you to ensure you receive the maximum credits and deductions to minimize your tax burden. Our team of professionals can help create a detailed tax plan to ensure all aspects of your financial plans work together. We are up-to-date with the latest rules and requirements of the Income Tax Act and CRA policies. 

For Individuals:

We can file personal returns for individuals, help with RRSP planning, and provide tax-effective retirement planning advice. Our team can deal with capital gains from the sales of properties or investments. For the 2020 tax year, we can help with new COVID related benefits.

For businesses:

We assist businesses in dealing with all aspects of taxation, from filing complex returns with the Canada Revenue Agency to GST/HST returns. Our experts can work with companies to develop plans and strategies to minimize their tax burden as much as possible. We can help prepare and represent businesses facing a CRA audit. For the 2020 tax year, we can help file returns that deal with COVID-19 programs like:

• Canada Emergency Wage Subsidy (CEWS)

• Temporary Wage Subsidy (TWS)

• Canada Emergency Rent Subsidy (CERS)

• Canada Emergency Business Account (CEBA)

We can help all businesses, big or small, to have the highest tax efficiencies to improve their bottom lines.

Kagan & Kagan can help you plan for your future to reach your retirement goals and leave your loved ones a legacy. Our estate and financial planning service work with you to give a complete review of your financial situation and enact a plan that will build your nest egg. 

Estate planning:

Having an estate plan is vital for your family. While most people focus on building their wealth, many do not think about how to transfer it. A plan will help ensure you have a legacy to give to your loved ones and the organizations you support. Our expertise can minimize your tax burden while maximizing the amount you can give your beneficiaries. Our services include:

• Review your estate's ability to cover final expenses and taxes

• Develop options for business succession plans to sell or pass on to family

• Power of attorney

• Provide insight into life insurance

• Creation and advice on trusts

• Advice on charitable giving

• Advice on investing

Financial Planning:

We can work with you to develop a financial plan to help you reach your goals, whether it's starting a business or retiring by the age of 50. Our team can create a customized strategy that will help you be in control of your money. Depending on the situation, it can be to cut debt, invest for the future, start a business or curb your expenses, all while helping you achieve a comfortable standard of living. We can help with both short and long-term goals. Our services include:

• Review your financial situation and offer suggestions to improve it

• Help reduce and eliminate debt

• Maximize your estate

• Advice on investment opportunities

• Develop savings and investment strategies

• Utilize government programs like Registered Retirement Savings Plans (RRSP) and Tax-Free Savings Plans (TFSA) to their full potential

Take the first step on your path to your financial goals by calling Kagan & Kagan today.

As the speed of business increases, it can be challenging to distinguish the signal from the noise. Kagan & Kagan can help put things in focus by being a trusted advisor for your business by offering an expert's perspective on everything from how your operation functions to a potential deal's risk and rewards. Our team of experts is available when you need specialized knowledge or looking to make sweeping changes with your business.

Our team can help develop a strategy for expansion by helping you figure out what is most important. When it comes time to expand, we can help with the process of applying for loans. If you have financial problems, we can assist in many areas, from managing your debts to finding and cutting unnecessary expenses. We provide advice for:

• Ways to increase revenue

• Succession planning

• Strategies to minimize taxes

• Assist in developing a strategy

• Help create a business structure

• Create budgets to help reach business goals

• Risk mitigation

• Improving efficiencies

• cash flow management

Our team knows one of the fundamental problems many businesses face is cash flow. While an operation may be profitable, the ebb and flow of revenues can create a situation where a company cannot pay its employees or suppliers. We can help develop strategies that help eliminate these cash crunches by developing cash reserves and spending plans to ensure there is money in the bank.

We can create systems that help to identify waste, fraud and improve efficiencies. Our team can review and pin down the actual cost of holding inventory and develop strategies to reduce this expense. We can create financial forecasts so you can make better business decisions quickly and provide advice on property and equipment lease or purchase decisions. If you want to sell your business, we can provide the expertise and resources to help find its value and a fair market price. 

You worked hard to build your business, but what happens when you want to retire? Will you cash out to your partners, sell it to your employees or another firm? Will your children want to keep the company in the family and hold leadership positions? No matter what the answer is, Kagan & Kagan can help.  

Fundamentally, a succession plan is all about preparing for eventual change. It should be developed well before any planned transition because the unexpected can happen. We can create a plan that will help protect stakeholders, assuage your lenders' and suppliers' fears, and help ensure the business remains viable. A succession plan is essential if you plan to step away or suddenly become unable to operate the business. 

Our team can help you prepare for all eventualities. If you plan on selling in the future, we can work with you to increase your business's value and help identify the best time to sell.  If you have partners, we can work out agreements to fairly value your shares so they can buy you or your family out. Suppose your intentions are for your family to take your place. In that case, we can help develop procedures to groom your replacement well ahead of time to ensure business continuity. Regardless of which path you choose, we can help build a strategy so the transfer taxes do not cripple the business.

Remember, a succession plan is not written in stone. What if your heirs decide they do not want to take a leadership role in the business, or a partner chooses to cash out? What if the government decides to change your tax situation? Circumstances can change drastically in a short amount of time, so the plan should be reviewed and revised frequently.