Our firm offers a wide range of services to our individual and business clients. Our clients benefit from personalized, quality service. We have listed the services that we offer to our clients, together with a brief description.|
As the list below is by no means comprehensive, please feel free to inquire about a service if you do not see it listed.
Accounting Services and Financial Statements
Preparation of meaningful financial statements, and reviewing them with you to ensure that you understand them is a mainstay of our practice. Do you understand what your financial statements really mean? Do you know the questions your lenders will ask? Do you need help determining the answers?
Would you like your financial reports further enhanced with graphs and a financial analysis? We would like to do that for you. Our firm provides a full range of cost effective accounting services including financial statement preparation, and related reviews or audits. We also assist with accounting system setup for new businesses,including assistance with software selection and implementation, e.g. Simply Accounting.
How about a "financial checkup" or a "diagnostic review" to determine the strength of your business and to show you how you can fix any problems?
Financial Forecasts & Projections
Forecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company's financial goals.
Tax Planning & Preparation
Tax planning and preparation, enhanced by well-rounded personal financial planning, is a corner stone of our practice. Why? Because we enjoy it! Get your tax returns done at a firm where you meet and know your tax preparer, all of whom are qualified Chartered Accountants with tax experience! Supplement it with financial planning advice from a CA with financial planning credentials - R.F.P., CFP and CLU. We challenge you to find a public accounting firm in P.E.I. with such a good blend of financial planning and business advisory designations to help you.
Estate & Trust Tax Preparation
Not only can we help you with tax returns for living trusts, we can also help you at life's end. Unfortunately, the government often wants a share of your estate even at the end. Hopefully, we have been able to assist you or your loved ones in planning for this time.
If you are an executor or a lawyer looking for assistance in preparation of tax returns, we can help you. Or, we can help your own executor to prepare the final tax returns. Maybe not recognized by many individuals, including lawyers, there are often decisions and elections that can be made on final tax returns and estate returns to save substantial taxes. We encourage you to see us for help if you are an executor, and encourage you to recommend in your Will that your own executor seek tax advice.
Is your Will up to date? Have you taken the appropriate steps to reduce taxes, to protect your assets and to ensure your beneficiaries get the most from your estate? You need estate planning to organize the transfer of assets to your beneficiaries and to provide security for your surviving spouse. Whether you are an individual with minimal assets or a high net worth business owner, we can help you sort out your concerns and help you plan for the inevitable.
As a Chartered Life Underwriter (CLU), Blair Corkum can offer objective advice on whether you really need life, critical illness or long-term care insurance. We can review your options to protect your assets in case of a debilitating disease resulting in high costs for a nursing home or at-home attendent care. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order, and we do it objectively because we sell no insurance or investment products, nor receive any commissions or referral fees from those who do.
Do you have enough money for your future plans? Are there things you should be doing now to improve your personal financial situation?
A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Blair Corkum has his Certified Financial Planner (CFP) designation, and is the only Registered Financial Planner (R.F.P.) resident in P.E.I. (issued by the Institute of Advanced Financial Planners). He prepares complete or partial personal financial plans including advice on investment strategies, risk management (insurance), taxes, retirement income, estate planning and special financial needs. He has written many articles on various financial planning topics, which are available from our office.
Financial counselling to employees regarding retirement and severance compensation packages and to business owners regarding business succession, including giving education seminars, are other elements of his financial planning experience. He has given workshops and presentations on retirement issues to organizations such as the Public Service Commission of P.E.I., the Canadian Coast Guard, the R.C.M.P. and The Learning Centre for the Province of PEI. Although he has taken the mutual funds course offered by the Institute of Canadian Bankers, and holds the estate planning and insurance designations, Chartered Life Underwriter and Registered Health Underwriter, he is not licensed to sell securities or insurance. Consequently, individuals seek his opinions when they are concerned about potential conflicts by financial advisors who sell products. He charges by the hour and received no commissions or referral fees, which could influence a person's objectivity or independence.
Business Advice and Consulting
We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound.
In addition to acting as a sounding board for management, we provide comprehensive, flexible financial strategies that address the issues affecting your business. If it is a marketiig or strategic plan that you need, we will work with Baker Consulting Inc. who offer services in that respect.
Accounting Software Selection & Implementation
With the number of computerized accounting software packages available for small businesses and individuals growing every day, selecting one that is right for you has become increasingly difficult. As accounting professionals, we have knowledge of various programs, either through personal experience or industry literature. Our staff can help you do your needs analysis and choose and implement the system that best fits your needs.
Child and Spousal Support Advice
Are you in need of financial calculations and planning advice as a result of a marriage or common-law break-up? Do you know how to calculate the child support which you must pay or are entitled to receive? Do you know the effects of taxes on your spousal support?
We can answer these and other questions, while working with your mediator or lawyer to reach a satisfactory agreement. Blair holds a Financial Divorce Specialist designation, qualifying him to work with financial budgeting and analysis for individuals when there relationship breaks down.
Blair Corkum was asked to provide assistance to the Office of the Attorney General of P.E.I. upon the implementation of the Child Support Guidelines in October 1997 as a result of his combined education and knowledge in accounting, financial planning and tax. This opportunity provided him with a niche in the area of family law support services. As a result, he was appointed to the Advisory Committee on Child Support to the federal Deputy Minister of Justice until its windup in 2001 and has written and taught a variety of workshops and seminars in Atlantic Canada. He offers advice to judges, lawyers and clients on determination of income, cash flow and tax issues for child and spousal support purposes.
Investment Portfolio Diversification and Risk Review
Blair Corkum, CA, R.F.P., CLU, CFP will review your portfolio with respect to the types of investments you should hold given your personal risk profile, and advise you as to whether your existing holdings should be re-evaluated. We are not licensed to buy or sell securities, nor to give specific advice on particular products, and we receive no commissions or referral fees related to sale of product.
Risk Management (insurance and creditor protection) Advice
We will review your personal situation to determine whether you have the appropriate amount and type of life insurance. We will also review other areas of risk with you to determine if there are additional procedures you should implement - whether it be other types of insurance, use of corporations or trusts, revisions to investment holdings, etc. Although Blair Corkum has his Chartered Life Underwriter and Registered Health Underwriter designations, we are not licensed to sell insurance and we receive no commissions or referral fees related to sale of product.