Services

We are built to serve corporations and have an incredible tax team that ensures you're taking advantage of every option to minimize how much you pay to the Canadian government.

As a corporation, you’ll have to file your corporate income tax return at your fiscal year end. We’ll produce a set of financial statements and file your T2 corporate income tax return, aligning it with your financial goals and working to minimize your income tax liability.

Canadian Corporate Tax Planning

Your long-term personal financial goals should align with your business. We’ll work with you to ensure your business and long term plans are aligned by choosing the right balance of salary, bonus, or dividends, or by determining the optimal corporate structure.

Financial Statement Compilations

If you run a corporation, you’ll need to produce a set of financial statements at your fiscal year-end. We’ll go through your accounting data to ensure your numbers are organized and accurate. We’ll then produce a set of statements that best suits your financial goals.

Why consider LiveCA for your taxes?

When you keep everything under one roof (bookkeeping, payroll, tax planning, etc) it makes preparing the final return much faster and more accurate. There's no need to explain items to another firm or live with unnecessary delays. Think of it as the farm-to-table approach of corporate taxes.

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Most companies outgrow their bookkeepers quite quickly as things become more complex. It's not uncommon for a bookkeeper to feel overwhelmed, especially if they have other clients.

Think of us as the last bookkeeper you'll ever need to hire before bringing things in-house.

We've worked with some of the most complex bookkeeping for SaaS, e-commerce, Fintech, health/medical and professional services companies.

Deferred revenue, bookkeeping for your USA subsidiary, flawless Stripe and Paypal reconciliations and accurate Shopify reporting come naturally to the team. We've worked with hundreds of companies in unique situations and have a growing list of procedure documents that will give you comfort knowing we've got things covered.

What system do you recommend?

This depends on a lot of factors, but Xero typically fixes many of the issues fast-growing Canadian companies encounter if they're using Quickbooks Online (QBO). These range from foreign currency discrepancies to bank reconciliation bugs to sales tax modules not picking up certain transactions. We can cover this more on a call to determine if you're at risk or if it makes sense to stay on QBO.

We don't recommend you use Wave, Freshbooks or Sage Business Cloud Accounting in most situations.

All of the bookkeeping technology will be discussed during the sales process, which you can start here if you like.

Our team of payroll specialists are here to support you and run your payroll.

Why should LiveCA process your payroll?

• No pay runs will be missed.
• We'll ensure your calculations are accurate and are in accordance to your provincial employment standards act.
• We'll bring up issues before they're committed into a pay run and take the stress off of you to learn all of that yourself.
• We'll help you navigate new government initiatives, especially as they relate to the COVID-19 crisis.

Can you payroll on your own?

• Yes, and we'll be here to answer your questions throughout the year.
• At year-end, we'll review your T4s and reconcile them back to your accounting system to make sure nothing gets submitted incorrectly that could get you in trouble.

What do most people choose?

• They choose for us to do it.
• Why? Because it's cheaper than hiring a full-time HR/payroll coordinator and if you already have an HR coordinator, they are typically too busy to run payroll.
• It's also a good practice to segregate HR and payroll to help avoid certain types of fraud that could occur with one internal coordinator.

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We can pay your bills on your behalf (with your approval, of course).

On average, once you have 15+ bills to pay each month, it becomes a lot more involved to manage the process on your own.

Why consider outsourcing the payment of your bills?

• Organized and off your plate.
• We'll track down EFT and wire instructions so you won't need to track those anymore.
• We'll send out remittances so vendors ask fewer questions about when their payment is arriving.
• We'll keep track of due dates.
• We'll find the best FX rate so you don't have to take what the bank (or a fintech app) tells you to pay. (FX brokerages are very important these days).

What's the process?

• SUBMIT - We'll receive all the bills to pay into a Receipt Bank inbox (you can email them in or snap a photo) and then prep up a list for you to pay each period (usually on the 15th and the 30th).
• APPROVE - You'll note which items you'd like paid (we'll also show the due dates) 
• RELEASE - We'll release the funds to the vendors, usually through a tool like Plooto or your cash management system online (RBC Express, TD Cash Management, etc).

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CFO is quite possibly the most misunderstood position in finance. What do they really do? What don't they do?

We consider CFO services to include the following:

• Cashflow planning
• Budgeting
• Board report updates
• Business plan consulting
• Variance analysis

Does this come with every plan?

• Sort of.
• Every company is unique and has different levels of intensity when it comes to this work.
• If something seems like a special project or would require significant effort on a monthly basis, we'll figure that on our sales calls and be very clear what is and isn't included in the different pricing options.

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CFO is quite possibly the most misunderstood position in finance. What do they really do? What don't they do?

We consider CFO services to include the following:

• Cashflow planning
• Budgeting
• Board report updates
• Business plan consulting (do the unit economics work?)
• Variance analysis

Does this come with every plan?

• Sort of.
• Every company is unique and has different levels of intensity when it comes to this work.
• If something seems like a special project or would require significant effort on a monthly basis, we'll figure that on our sales calls and be very clear what is and isn't included in the different pricing options.

‍

CFO is quite possibly the most misunderstood position in finance. What do they really do? What don't they do?

We consider CFO services to include the following:

• Cashflow planning
• Budgeting
• Board report updates
• Business plan consulting (do the unit economics work?)
• Variance analysis

Does this come with every plan?

• Sort of.
• Every company is unique and has different levels of intensity when it comes to this work.
• If something seems like a special project or would require significant effort on a monthly basis, we'll figure that on our sales calls and be very clear what is and isn't included in the different pricing options.

‍

CFO is quite possibly the most misunderstood position in finance. What do they really do? What don't they do?

We consider CFO services to include the following:

• Cashflow planning
• Budgeting
• Board report updates
• Business plan consulting (do the unit economics work?)
• Variance analysis

Does this come with every plan?

• Sort of.
• Every company is unique and has different levels of intensity when it comes to this work.
• If something seems like a special project or would require significant effort on a monthly basis, we'll figure that on our sales calls and be very clear what is and isn't included in the different pricing options.

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