We shatter all the perceptions you might have about a Waterloo accounting firm. We don’t see ourselves as bean counters. Bean counters are a dime a dozen in Waterloo. We see ourselves as business advisers. Our clients aren’t looking for someone just to prepare financial statements and prepare tax returns and be done with it until next year. They want someone to do all of that and make better sense of the numbers for them, so they can make better business decisions.
You didn’t get into business to obsess over the financials or worry about filling your taxes on time. Those things just distract you from doing what you need to do. That’s where we come in. We can take all that burden off your shoulders so you can get back to running your Waterloo based business.
We get really excited about the clients we work with. They’re highly skilled professionals. They’re small business owners. They’re entrepreneurs. They are the engine that drives our economy. We help them run their businesses. We help them understand the numbers. We help them create a better life for their families by putting more of their hard earned dollars back in their pockets. It’s hard not to get excited about that.
Services
We take care of the numbers so you can take care of your business
Advisory Services
We have seasoned experts to help you with SR&ED Claims, Business Consulting, Forecasting and Budgeting.
Accounting Services
Have your Audits, Reviews, and Financial Statements professionally prepared on time, every-time.
Tax Services
Never worry about your Personal and Corporation Taxes, HST, Payroll Taxes, Tax Planning and Advisory again. We will manage it all.Incorporation Services
Incorporating your business can drastically reduce your tax liability. We’ll get you setup correctly in no time.Bookkeeping Services
Let our office handle the books. Our team of proficient & professionals bookkeepers that can help keep your practice finances in order.What business owners are Saying
They are very organized and dependable. I went to them for business and personal tax planning. They allowed me to make informed decisions by giving me different options that were discussed in detail.
Dr. Saj Sheth, Chiropractor
Resources for Business Owners in Waterloo
Get the
The 3 Largest Expenses Doctors, Physicians and Surgeons Can Deduct from a Professional Corporation
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How to Prioritize Paying Off Medical School Loans
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5 Things Doctors, Physicians and Surgeons Should Look for in an Accounting Firm
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How can I finance my new practice?
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How do I acquire a building or property?
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How can I streamline my cashflow?
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Should I buy or build a practice?
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The 3 Largest Expenses Doctors, Physicians and Surgeons Can Deduct from a Professional Corporation
Get the Business Deductibles Cheat Sheet here: https://app.convertkit.com/landing_pages/236306?v=6
Two of the most common mistakes I see many doctors make is either not deducting enough business expenses on their tax returns or deducting too many expenses and thus exposing themselves to the risks of a CRA audit. In this video, Junaid Usmani (Partner) outlines the 3 largest expenses healthcare professionals can deduct from their corporation taxes.
Automobile Expenses: You can only write off your vehicle in relation to the percentage that you actually use it for business. Thus, it might be important for you to keep a log of all the business driving you do.
Membership Fees: Fees that you pay on an annual basis.
Overhead Fees: Paid to the clinic that you work out of.
Other expenses that can be written off include rent, meals and entertainment costs, travel, office supplies and more.
If you still have questions feel free to schedule a call with one of our partners.
SRJ Chartered Accountants
(647) 725-2537 | info[at]srjca.com
https://www.srjca.com/
330 Bay Street, Suite 1400
Toronto, ON M5H 2S8
How to Prioritize Paying Off Medical School Loans
One of the questions I get a lot from my clients is when should I pay off my student loans? Should I pay them off before setting up my professional corporation? Or should I incorporate and practice and worry about student loans later? My name is Junaid Usmani and I'm a partner at SRJ Chartered Accountants. In this video, Junaid Usmani (Partner) explains how incorporating can help you pay off your medical school loans in the fastest and easiest way possible.
If you don't incorporate, most of you will end up paying the highest possible tax rate on every additional dollar you earn. In fact, you may end up paying more in taxes, and as a result have less money left over to pay off those very student loans. Whereas if you incorporate, you will control the amount of money that you take out of your corporation and thus allow you to defer some tax to another year, and reduce your overall tax by strategically only taking out as much money as it make sense to do so.
So to answer this question, it's pretty simple. Incorporate your practice as soon as possible. You can continue to pay off those student loans strategically while making more money in the long run.
If you're struggling to balance these priorities and still have questions, feel free to schedule a call with one of our partners. 30 minutes, no obligations, we'd love to help.
SRJ Chartered Accountants
(647) 725-2537 | info[at]srjca.com
https://www.srjca.com/
330 Bay Street, Suite 1400
Toronto, ON M5H 2S8
5 Things Doctors, Physicians and Surgeons Should Look for in an Accounting Firm
In this video, Junaid Usmani (Partner) explains what to look for in an accounting firm so you make the right decision from the first time.
Experience: You need to be informed about the specifics of your industry.
Accessibility: You need to be getting the attention and services you require
Guidance: They must be able to understand the law but also help it apply to you. They should help you navigate financial space and ultimately let you make the decision that’s best suited for you.
Growth Potential: You want a firm that is going to help you grow through various phases of your career.
Real-life Relationship: Your accountant must know intimate details about your business, your life goals, and your finances. By doing so, they can help you make the best decisions for you.
If you need further information, contact us at SRJ Chartered Accountants by phone, email, or our website.
SRJ Chartered Accountants
(647) 725-2537 | info[at]srjca.com
https://www.srjca.com/
330 Bay Street, Suite 1400
Toronto, ON M5H 2S8
How can I finance my new practice?
In this video, Shayan Rashid (Partner) and Craig Gibson from Scotiabank's Healthcare Banking discuss how you can get 100% financing for your new healthcare practice from Scotiabank.
Starting from scratch: If you provide us with budgets beforehand of how much you’re going to spend for equipment, how much for the premises, the bank can finance up to 100% of that including all the taxes.
Existing practice: That would be usually done on an appraisal basis and there are quite a few large appraisal companies in Canada that provide appraisals to the bank and to the person buying the office.
Other things you want to consider are interest payments, documentation for the bank and obtaining advisors.
If you want to discuss setting up the corporation or even how the structure will be maintained, you can give us a shout at SRJ Chartered Accountants. If you want access to all the information in this series, you can go to srjca.com/healthcare.
SRJ Chartered Accountants
(647) 725-2537 | info[at]srjca.com
https://www.srjca.com/
330 Bay Street, Suite 1400
Toronto, ON M5H 2S8
How do I acquire a building or property?
In this video, Shayan Rashid (Partner) and Craig Gibson from Scotiabank's Healthcare Banking discuss the advantages and disadvantages of buying vs. building your practice.
How to Buy an Existing Practice: All of the necessary documents and the option to buy either the shares or assets are discussed.
How to Build a New Practice: All of the factors that need to be taken into consideration and the items you need, such as a solid foundation and advisor team, are discussed.
The better option varies from client to client, and Scotiabank can help finance it either way.
If you have any questions for Craig, feel free to reach out to him directly at Scotiabank Healthcare Banking. If you have any questions about accounting or tax you can reach out to me. If you want access to all the information in this series, you can go to srjca.com/healthcare.
SRJ Chartered Accountants
(647) 725-2537 | info[at]srjca.com
https://www.srjca.com/
330 Bay Street, Suite 1400
Toronto, ON M5H 2S8
How can I streamline my cashflow?
In this video, Shayan Rashid (Partner) and Craig Gibson from Scotiabank's Healthcare Banking discuss how to streamline the cash flow in your healthcare practice.
Large Purchases: Put anything large on to a term-loan and pay it over time and use your credit lines strictly for cashflow items.
Funds for Personal Use: It’s important to get the right tools if you want access to your money right away.
In order to keep your cash flow running smoothly, it’s important to stick to monthly budgeting and annual reviews.
If you have more questions you can reach out directly to Craig, Scotiabank Healthcare Banking or if you want any advice on tax or strengthening up your structures, reach out to us at SRJ Chartered Accountants. If you want access to all the information in this series, you can go to srjca.com/healthcare.
SRJ Chartered Accountants
(647) 725-2537 | info[at]srjca.com
https://www.srjca.com/
330 Bay Street, Suite 1400
Toronto, ON M5H 2S8
Should I buy or build a practice?
In this video, Shayan Rashid (Partner) and Craig Gibson from Scotiabank's Healthcare Banking discuss how you can get 100% financing for your new healthcare practice from Scotiabank.
If you can buy a building with your new practice and you can afford it, then definitely consider buying it. Talk to your accountant and talk to your lawyer first, but the bank recommends it and has a program for financing it.
The terms and documentation for the bank loan are discussed as well as whether it’s better to buy or lease the property.
If you or your colleagues have any questions, specifically about buying the property for your practice, you can give Craig a shout. If you have any other tax or accounting questions, you can reach out to me directly. If you want access to all the information in this series, you can go to srjca.com/healthcare.
SRJ Chartered Accountants
(647) 725-2537 | info[at]srjca.com
https://www.srjca.com/
330 Bay Street, Suite 1400
Toronto, ON M5H 2S8