Financial Advisory From Segal

Financial Advisory From Segal

At Segal LLP, we recognize the trust you have placed in us as your financial advisors, and in these unsettling times, we are ready to assist. Here are a few ways we can help you deal with the current climate of uncertainty:

1) Assess your current financial position. You may want to consider having some financial modelling work done to project your cash flow and financial position. With a clear understanding, you can adjust your planning accordingly. Further, we can work with your financial institution in preparing a turn-around plan to assist with financing.

2) Assist with filing your corporate taxes as soon as possible, particularly where you expect a refund of corporate instalments. An assessed tax return may also be required by a lender as part of their decision-making.

3) Prepare your annual financial statements as quickly as possible. Regardless of whether your year-end statements are typically audited, reviewed, or compiled primarily for tax purposes, these may be a key tool in obtaining short or longer-term financing as they will be one of the documents initially requested by a lender, as well as providing the basis for your annual tax filing.

4) Work with you to file your personal tax return as quickly as possible, particularly if you are expecting a tax refund. The CRA is currently assessing basic income tax returns in less than 24 hours and paying refunds in as quickly as a week of filing in some cases. Notwithstanding the extended deadlines now allowed by the CRA, this could be particularly helpful if:

  • You need a refund/cash as soon as possible or just want to have a rainy-day fund during the next few unpredictable weeks.
  • You need a Notice of Assessment so you can negotiate a lower mortgage or other purposes.
For any assistance with your financial needs, please do not hesitate to reach out to us. With a diverse team of business advisors, we can help you effectively plan your future through these uncertain times.

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