Capstone LLP

Chartered professional accountants in Toronto, Capstone LLP focuses its work on small business accounting and corporate tax. Its members are licensed public accountants, so the firm can issue audit and review reports as well as prepare the everyday accounts and returns most owners need. It says it tailors its approach to the size and needs of each client.

Accounting and assurance for smaller companies

Some clients need only a compilation of their financial statements, which the firm prepares on the Notice to Reader basis. Others need a full financial statement audit or a review engagement, which the firm can carry out because of its public accounting licence. The firm presents accuracy as the reason for this work: statements have to be timely and correct before they are of any use to the owner.

Corporate and personal tax work

For companies the firm prepares T2 corporate returns, taking a proactive and strategic approach aimed at keeping each client's tax as low as the law allows. For individuals with employment income, self-employment or several income streams, it prepares and files the T1 personal return. Specialist claims it handles include GST and HST housing rebates, the disability tax credit and scientific research and experimental development (SR&ED) claims.

Setting up and advising a business

The firm incorporates businesses and prepares and files articles of incorporation. It points out that professionals such as dentists, doctors, lawyers and other practitioners can incorporate through a professional corporation, and it says incorporation can bring tax benefits and protection for personal assets. Beyond incorporation it gives advice on business plans, business valuation, strategic planning and management consulting, and provides outsourced CFO support for owners who need senior finance input without a full-time hire.

Cloud accounting tools

The firm supports cloud accounting packages including QuickBooks Online, Xero and Wave, and says that working with the tools a client already uses gives a better day-to-day experience.

Who the firm serves

Clients range from small, medium and large businesses to health practitioners such as dentists and doctors, plus lawyers, realtors and IT consultants.