Matrix Accounting:
Handholding, Providing Professional Accountants Support and Advise for New Business Setups in Calgary
Setting up a new business is a daunting task – it requires lots of meticulous planning and far-sightedness. What can make things appear more frightening are the statutory requirements that often can discourage the new entrepreneur from proceeding ahead with the plans.
At Matrix Accounting, our best accountants aim to make things smoother and better, if not easier for start-ups especially in Calgary. On our team, we have extremely talented and cream-of-the-crop professional accountants and taxation experts who have spent years managing the finances of new and existing businesses, across all industries and domains.
For a new entrepreneurial set-up, this is how we hand-hold:
- Engage with the new business owner to advise him on choosing the right and befitting business structure. Depending upon the specific needs and requirement of the client, our in-house expert financial advisors explain the different types of business ownership models, the pros and cons of each and then help them choose the best one.
- Help with the registration formalities for a new business. It is legally mandatory for all new commercial setups to register themselves with the Canada Revenue Agency. A Business Number or BN is assigned that becomes the tax ID for your new entity. Registering a business in Canada requires strict adherence to certain standards and submission of compulsory business documents that need to be duly completed before applying for the BN. Our new business registration experts help you with all the documentation, collation, filing and submission of the application and status follow-up.
- Post-registration statutory obligations – once your business receives a BN, your need to go in for GST/HST registration along with registering with various government program accounts like corporate income tax, excise duty, payroll deductions and import/export, if applicable. Matrix Accounting helps new business set-ups to complete all these mandatory formalities effectively and smoothly.
- Set-up bookkeeping services – Matrix Accounting then helps you put in place the right book-keeping system so that all your outflows and inflows are recorded minutely and appropriately. This is important for proper tax return filing at the end of the year as well as in preparing the annual financial statement for the business.
- Help with start-up business planning – We encourage young self-starters to come forward and share their business ideas with us. Our in-house team of professionals will guide and assist you with converting the idea into a practical business plan so that you can impress interested investors and start work on realizing your dream of becoming an entrepreneur.
- Act as a consultant during purchase and sale of a business – just like starting a new business has its share of challenges, similarly buying an existing business or selling off one comes with issues that need to be resolved. While acquiring a business has liability issues that needs due diligence work from the buyer’s end, selling requires you to take hard decisions pertaining to legal issues, deciding to sell tangible and intangible assets, selling off your shares etc. Our top-notch accounting and financial specialists help by examining relevant documents and advise you on the way forward.