Our Services
CHY Accounting & Tax is a boutique professional accounting firm established in 2016. We specialize in accounting services (including tax accounting and provision services), U.S. and Canadian tax services, advisory services, and bookkeeping and payroll services.
Preparation of company financial statements (e.g., monthly, quarterly and/or annually)
Compilations of financial statements
Preparation of income tax accounting schedules (e.g., tax provisions), including the required notes to the financial statements (for both Canadian and U.S. entities)
Optimization of the financial close process (e.g., documentation, process development, and the more efficient utilization of staff and technology)
Preparation of accounting opinions, including determinations relating to the accounting treatment of complex transactions
Review of financial statements to ensure completeness and compliance
Finance team support during the preparation of financial statements
Advice on the selection of an ERP system (e.g., NetSuite, SAP)
Assistance in the implementation of an ERP system
Accounting Services
Tax planning for corporations
Corporate structuring advice
Preparation of federal and state corporate tax returns/forms
Preparation of federal and state partnership tax returns/forms
Nexus analysis for the determination of state income tax filing obligations
Tax planning and advice for businesses entering the U.S. (e.g., foreign branch vs. U.S. entity), including tax treaty analysis and preparation of treaty-based returns
Confirmation of U.S. tax compliance and reporting obligations (in accordance with the Canada/U.S. tax treaty)
Recommendations regarding entity selection for new businesses (e.g., Limited Liability Company, C-Corporation, partnership)
U.S. Business Tax Services
Tax planning for corporations
Corporate structuring advice
Preparation of corporate tax returns/forms
Determination of the tax treatment of business-related transactions
Compensation structuring and planning, including cross-border secondment structuring for employees (e.g. tax equalization structuring)
Tax planning and advice for U.S. businesses entering Canada (e.g., foreign branch vs. Canadian entity)
Confirmation of Canadian tax compliance and reporting obligations (in accordance with the Canada/U.S. tax treaty)
Recommendations regarding entity selection for new businesses (e.g., corporation, partnership, sole proprietorship)
Canadian Business Tax Services
Analysis of financial performance, including profitability review and recommendations
Advice on business and strategic planning
Analysis and review of company-wide cost structures (e.g., operations and administration), including recommendations on cost reductions
Planning for business expansion, including advising on the financial and tax aspects of a business acquisition
Preparation of financial budgets and forecasts
Assistance with obtaining company financing
Analysis and review of company financing arrangements and supplier contracts
Development of internal controls and accounting processes
Centralization of internal support services (e.g., finance team)
Training, mentoring and hiring company finance staff
Development of customized financial models to assess various financial outcomes, including business profitability, product pricing, cash flows, break-even points, and investment requirements, among many others
Advisory Services
Business expansion and acquisition planning (including capital raising support)
Profitability analysis and advice relating to existing business and special projects
Development of pricing strategies for revenue and profitability growth
Identification and implementation of cost reduction strategies
Planning for the sale of a business to maximize shareholder value on sale price
Analysis of existing debt facilities, including potential recommendations on restructuring strategies to achieve a lower debt-servicing cost
Managing cash-flows and banking relationships, including foreign currency hedging
Performing financial planning and analysis, including budgeting, forecasting and the development of financial models
Development of internal controls and systems for stronger financial reporting and analysis
Providing strategic direction to the company from a financial and business perspective
Fractional CFO Services
Recording daily financial transactions such as purchases, sales, receipts, and payments
Organizing and maintaining financial records in an orderly manner
Managing bills and invoices from suppliers, ensuring they are paid on time
Tracking customer invoices, ensuring timely collections, and managing overdue accounts
Reconciling the company's bank statements with its financial records to ensure accuracy
Identifying and resolving discrepancies between records and bank statements
Calculating and processing employee salaries, taxes, and other benefits
Ensuring compliance with tax filings and employee deductions
Generating key financial reports such as the Balance Sheet, Income Statement and Cash Flow Statement
Preparing financial records for tax filings, including sales taxes, and payroll taxes
Bookkeeping Services
