- Helping companies grow since 1983
Our Services
Industries and Businesses Served
Grunwald & Co. has extensive experience in multiple industries including manufacturing and distribution, wholesale and retail, healthcare professionals and their businesses, financial services, technology and startups, real estate as well as not-for-profits and charities,
We work closely with businesses and have 40+ years of experience assisting them through their life cycle – from initial investment and launch to national and international expansion to divestment and succession planning and implementation. Accordingly, we are familiar with the challenges that businesses face at every stage.
Accounting and Assurance
Grunwald & Co. provides three levels of service with respect to communications on financial statements: audit, review, and compilation.
Audit
Audited financial statements are the strongest indicator of the credibility of the financial statements. An audit can help detect deficiencies in internal controls which may highlight areas susceptible to fraud, identify potential process improvements or identify potential tax-reduction strategies. An audit can also identify material misstatements or non-compliance with the applicable financial reporting framework (i.e., IFRS, ASPE or ASNFPO).
Review
Reviewed financial statements enhances the confidence that the financial statements have been prepared in accordance with the applicable financial reporting framework. A review can identify material misstatements or non-compliance with the applicable financial reporting framework.
Compilation
Grunwald & Co. can assist business owners and/or management with the preparation and presentation of its financial information and corporate income tax returns.
Grunwald & Co. prepares financial statements with the above-noted engagement reports in connection with multiple scenarios, such as:
- Shareholders, investors or potential investors require the financial statements/information for their investment decisions,
- Where lenders/creditors require the financial statements/information for compliance pursuant to loan agreements,
- Where laws or regulations require them, and
- For tax purposes.
Corporation and Personal Taxation and GST/HST
How much tax does my business owe? How much tax do I owe? When are my taxes due? Is there any way to reduce the tax owing? Can I defer the taxes owing? I forgot to file – now what? I received a letter from Canada Revenue Agency and am uncertain how to respond. Sound familiar? We can help.
Since 1983, Grunwald & Co. has navigated the Canadian tax landscape to assist its clients increase savings and avoid penalties. We work collaboratively with our clients and their legal advisors to develop strategies customized to our clients’ business and personal circumstances. We advise on organization structures, tax minimization strategies as well as estate and succession planning.
Charities and Not-for-Profits
How do I setup a registered charity? Can a charity disburse funds out of the country? What activities and/or expenditures should I be concerned about? What is a disbursement quota and what happens if my charity has a shortfall? I received a letter saying that the charity I govern is going to be revoked – what should I do? What is a non-arm’s length charity and what are the ramifications of making donations to a non-arm’s length charity? My not-for-profit organization has yet to receive charitable status from CRA – what am I supposed to file?
We have the answers to these questions and more.
Grunwald & Co. provides assurance, accounting and compliance services to Canadian charitable and non-for-profit organizations in various sectors including but not limited to charitable foundations, community resource centres, private schools and daycares, religious organizations, and government funded organizations.
We also assist charities and not-for-profits in preparing the T3010 registered charity information return, T1044 NPO information return and/or T2 corporation tax return, as required.
Tax Appeals and Voluntary Disclosure
You may have received unexpected correspondence from Canada Revenue Agency such as a notice of (re)assessment, demand to file, review letter or disclosure requests. Or you forgot to report income and/or file certain forms for one or two or twenty years. What should you do now? We can help.
With our knowledge of both the income tax act and GST/HST legislation, we can guide and assist you if you are facing an assessment from the Canada Revenue Agency, or considering a voluntary disclosure.
We have extensive experience dealing with CRA audits and reviews and work diligently to achieve the best outcome.
Business Valuation and Litigation Support
How much is my business worth? Should I purchase/sell the business assets or shares of the business? I’m filing a business interruption claim with my insurer – how much am I entitled to receive from my insurance company? I’m getting a divorce – how much do I owe my spouse? I am a beneficiary of an estate but am concerned I did not receive my fair share pursuant to the will – how much am I entitled to receive? I’m having a dispute with my co-owners and cannot resolve it – how should I proceed?
As business valuators, we provide business valuations in various contexts such as: corporate reorganizations, partner and shareholder disputes over value, purchase and sale of a business, family law matters, insurance claims, breach of contracts and license disputes.
In addition, in our role as litigation consultants, we can assist in assessing economic damages and lost profits, investigating fraud, and provide clarification of complex financial issues.
We have experience in mediating financial matters – please contact us to discuss if we can be of assistance to you.
Advisory Services
Over our 40+ years in practice we have provided a range of advisory services to our clients as well as others referred to us because of our experience as objective advisors.
The services we provide in this area include:
- Modelling and preparation of detailed cash flow and profit projections
- Performing due diligence as part of an investment or acquisition
- Advising on the structure of purchase and sale transactions
- Assisting in the negotiation process
- Reviewing transaction documentation, shareholders' agreements, and bank and lender proposals
Discover How We Can Help
Simply give us a call at 416-955-0607 or fill in the form below for a complimentary introductory discussion. We will learn more about your business needs to see if we are a good fit.