Small Business Accounting
Taxes Simplified.
Profits Maximized.
Most business owners go to their accountant for tax filings, their lawyer for legal advice, their realtors for real estate advice, and their bank for investment advice.
Often these advisors have conflicting recommendations leading to thousands, sometimes hundreds of thousands of dollars of lost opportunities.
At JPM Partners we think differently...
We want to understand your full financial situation so that we can implement an integrated tax, estate, and investment plan for your small business and your family.
Actual Client Example
Get StartedScenario
Mr. and Mrs. Smith (both in their mid 40's) came to us looking for tax preparation services as they felt that they were not getting value added advice from their current accountants.
- Mr. Smith is a sales employee for a pharmaceutical company earning about $300,000 per year (T4)
- Mrs. Smith is an independent mortgage broker earning $250,000 in self-employed commissions per year
- The family requires $225,000 per year to meet their personal lifestyle obligations
Their current accountants were preparing personal tax returns for them on an annual basis and Mrs. Smith claimed all of her commissions personally as a sole-proprietor.
Under their current structure they were paying about $225,000 per year in tax/CPP/EI, leaving them with about $325,000 after-tax, or $100,000 remainder after their personal expenses.
Not bad, but as you’ll see there’s much room for improvement...
The JPM Partners Integrated Approach
After some careful analysis, we made the following changes.
- Incorporate a company to carry out Mrs. Smith's business
- Pay Mrs. Smith a salary of $70,000 per year from said corporation
- Retain earnings in her corporation to fund their future retirement
- Build a tax efficient corporate investment plan
Under the new plan, they were now paying a total of $166,500 in annual tax, leaving them with $158,500 per year to save and invest. That’s a $58,500 per year improvement, or a 58.5% improvement!
To put that in context, $58,500, invested annually over a 20-year period at a 5% rate of return would give this family an additional $1,934,000 in retirement savings.
At JPM Partners we solve these types of issues on a daily basis and have done so for thousands of clients. We start with tax and integrate your entire financial plan under one roof to ensure your business and family end up with the most financially secure future possible.
Get the tax and financial advice you're missing.
If you've found yourself asking the below questions year after year, then you've come to the right place!
- Are you frustrated with the level of tax you're paying?
- Do you feel like tax and financial advisors aren't speaking the same language?
- Are you often left wondering if you are leaving money on the table due to a lack of integrated planning?
Keep more of your hard earned money.
Information is one of the biggest keys to success when it comes to owning and operating a small business.
Save Thousands with an Integrated Tax Plan.
At JPM Partners we have helped thousands of clients properly integrate their tax, and investment strategies. And we don't just talk the talk, we walk the walk. We know small business owners because we ARE small business owners.
✓ Accounting Record Cleanup
✓ T2 Corporate Tax Filing
✓ HST Filing
✓ Compensation Planning
✓ T5/T4 Filing
Testimonials
Hear from our clients first hand.
In all of my experience in business, I have never had the opportunity to work with such an incredible account firm such as JPM Partners. JP went above and beyond to help get my business set up and Geoff has been so much more than just an Accountant. Geoff takes time out of his day to help me when I'm having issues with my books and provides a level of customer service that is hard to come across these days. Thank you JPM Partners for being such a great business partner!
Brittany T.
Over the years we have both dealt with, and used numerous accounting firms. The folks at JPM Partners go so far beyond anything else we've experienced it does not even compare. From the moment you engage with their team of specialists you feel as though they have meetings behind the scenes about YOU. Each and every time we call, they always seem to know what we need, who can help with their request, and are one step ahead. John Paul and Geoff have worked seamlessly together helping us plan for the future, while staying on top of our day to day business needs; these guys are pros and I recommend them every chance I get. Growing our business has been crazy and stressful, but you guys have been a tremendous help - thank you.
