Client Services

Blue Fish Group provides a broad range of services that are professionally delivered and client-oriented.  As a Blue Fish Group client, you can expect to receive:

  • An initial one-hour consultation free of charge.  We also commit to visiting your place of business to learn more about you and what makes your organization tick.
  • A demonstration of our Business Health Test, which allows us to identify weaknesses in your business and your profit improvement potential using our software-based models and analysis.
  • Timely response to your enquiries; we commit to returning phone calls within one business day.
  • Confidentiality in our working relationship, backed by our Personal Information Protection Policy.
  • Access to additional resources, timely news, checklists and work sample sheets
  • Our booklet on tax saving strategies for businesses.
  • Fee proposals that we will honour.
  • Flexible payment options
  • Friendly, courteous, and professional service.

Below is a list of services that are most commonly provided to our personal and corporate clients.  As this list is by no means comprehensive, please feel free to inquire about a service if you do not see it listed.


Accounting Services

Accounting

For many business owners, the accounting side of running a business may be confusing in all of its intricate details.  Let us save you time and countless headaches by helping you run your business more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:

  • General ledger & financial statement preparation
  • Bookkeeping (Monthly/Quarterly/Annual)
  • Accounting system setup for new businesses
  • Compilation of financial statements
  • Audits and reviews

Auditing

Should your organization require a financial statement audit, we can assist by starting off with a free two-hour initial consultation.  Our goal is to get an understanding of your business or organization and to determine your needs.  We will then be able to prepare a comprehensive proposal that will address the scope of the engagement.  Our audits will also entail the preparation of a letter to management that addresses areas of weakness and recommendations in areas such as the accounting system, controls, efficiency, and human resources.

Accounting System Set-up

Are you lost in terms of how to setup your accounting system?  Are you frustrated with how to best file GST, how to compile and record your expense reports, how to process payroll, how to best record dividends and loans from the company? 

We are happy to analyze your situation and setup a best course of action.  Our services include setting up your accounting file, using a software program like Quickbooks or Simply Accounting, creating your invoice template, setting up your opening accounts receivable and accounts payable balances, training you on how to use the software, showing you how to prepare GST, PST, WCB, and payroll, show you how best to compile and record your expense reports and vehicle kilometre reports, how to print your cheques, and much more.

Please enquire about our fees for setting up your business.  In addition to the accounting program set-up, our services includes training time at our office, and unlimited telephone support for a month.

Year-End Preparation

We consider year-end services the basics of our relationship.  We assist in preparing year-end financial statements and tax returns, and make assessments of client accounting systems, tax situation, and future plans.  Beyond these basics, our goal is to enhance our relationship with clients through our consulting and corporate / personal tax planning services.

Consulting Services

Consulting

We have recognized that there is more to accounting than just financial statements and tax returns. We endeavor to provide services that help our clients grow their business. Our goal is to help you identify weaknesses and tap into opportunities within your business to improve operations and efficiency, increase profits, and most importantly, increase the value of your business.

For more information or to receive a free initial consultation, email Terrence Lau or call (604) 298-5050. Value pricing is available for existing clients.

Business Health Test

Do you understand the health of your business?  This program involves a review of your financial statements and key performance indicators with a view of creating long-term residual value for your business

Objectives:

  • To provide a rating out of 100 for 6 key areas of your business: liquidity, profits & profit margins, sales, borrowing and assets.
  • Identify key performance indicators (KPI) and ratios.
  • Help you understand the concept of cash flow and use this as a KPI
  • Help you understand that positive profitability may not mean positive cash flow
  • Identify how to improve cash flow
  • Help you with pricing strategies
  • Provide answers to what-if scenarios
  • Provide you with a Benchmarking and Goal Seeking Analysis

What you get:

  • A comprehensive Business Health Report showing our findings from our review of your last two to five years of financial statements
  • Two hours of meeting time to go over findings and evaluate what-if scenarios
  • Unlimited telephone support for a month
  • And much more

Strategic Planning Program

This program is a comprehensive planning journey that involves questionnaire completion, a one-day one-on-one strategy planning session that covers

  • Personal Planning
  • Business Planning
  • Your Company Now - SWOT/Key Frustrations/Competitive Advantages
  • Developing 25 Key Strategies
  • Your Strategic Action Plan
  • Your KPI's (Key Performance Indicators)
  • Your financial statements and budgeting for the future
  • Tax review
  • and much more
Afterwards, you will receive a comprehensive report on the strategic planning session. Over the next month of strategy implementation, you will have unlimited telephone support, followed by two separate personal meetings to review your progress.

Retirement and Financial Planning

  • Will I have enough savings for retirement?
  • When can I comfortably retire?
  • How much should I save for my children’s education through RESPs?
  • How much life insurance and disability insurance should I buy?
From this consultation you will complete a comprehensive questionnaire from which you will receive an unbiased review of your financial affairs.  Please note that we are not here to sell you insurance products or RRSPs.  We will provide you with an executive summary on your retirement strategy and an executive summary for your investment strategy.  You will also receive a comprehensive binder that provides the detailed working papers and support for our findings.

 

Tax Services

Corporate Taxation

Our tax planning is geared to providing you with a strategic framework for your circumstances.  These recommendations may involve the use of the capital gains exemption, choosing the right mix of salary and dividends, making the “Capital Dividend Account” election, the possibility of using a family trust, holding land and buildings used in your business in a holding company, purchasing or leasing a car, private health service plans (for deducting medical expenses in a corporation), estate planning, how to best sell or buy a business, and many other strategies.

Personal Taxes

Personal taxes can be a challenge, especially when dealing with self-employed income, RRSP decisions, rental of property, GST, the disposal of real estate, investment income, the final tax return for the passing of a loved one, planning for retirement, and other involving issues.

While fees for a basic tax return start at $175 plus GST, value enhanced packages are also available.  Depending on whether you are self-employed, own rental property, or have a spouse, package elements can include:

  • Preparation of your tax return
  • Preparation of your spouse’s tax return
  • Preparation of your business or rental schedules
  • GST returns
  • Review of business expenses, including home office and car expenses
  • Tax question hotline
  • Free one hour meeting during the year
  • Discussion on estate planning: wills and trusts
  • Life, health, and disability insurance review

If you would like a full description of our personal tax packages, please contact us.

Estate Planning

Estate planning is an integral component of our services.  The level of complexity will depend on your circumstances but may include some of the following areas:

  • How to best plan for the exit from your business
  • How a Family Trust may provide you with significant tax advantages, legal protection, and a means to deal with estate planning concerns
  • How to reorganize your company to introduce the next generation
  • How to introduce new shareholders to your business as a part of your succession plan
  • How to plan for the utilization of the $750,000 capital gains exemption on the sale of shares of a Canadian Controlled Private Corporation
  • Dealing with real estate owned in your corporation and avoiding the double taxation trap
  • Using your corporation as part of your retirement nest egg
  • How best to structure your remuneration in your retirement years
  • and many other areas