Chartered Professional Accountants - Gilmour Group CPAs

We charge the majority of our fees on a menu basis. This means that although we use our hourly rates to determine the ballpark of fees for each service, we look at the actual benefit delivered and the effort and expertise applied to determine our fees.

We are happy to share our fee structure because we believe that if we explain how it works then we are more likely to have a happy client and a good result at the end.

As an example, one of the most common services our clients purchase from us is a “Notice to Reader” financial statement. This is a basic financial statement and tax return package that is suitable for basic annual filings with most regulatory bodies and agencies in Canada. It is not the most expensive of our services, nor is it the least.

Let’s say it is the service level right in the middle of the pack of available services and it is the one that by far most of our clients purchase from us. Our invoices are broken into segments:

Behind the Basics

$300 - $1,000

Financial Background
Year End Bookkeeping
Tidying Balances of Bank Loans & Fixed Assets

Foreign Exchange corrections

The Basics

$ 2,750

“Notice to Reader” Financial Statements
T2 Corporate Tax Returns

Beyond the Basics

$300 - $1000 plus extras

Annual Tax Planning
Review of Results
Financial and Tax Reorganization

Income splitting

Behind the Basics - These are the background services that are required before we can begin the tax returns and financial statements. These services are mostly year end bookkeeping type services. This should not be confused with monthly and annual bookkeeping services. The monthly bookkeeping is assumed to already have been done by a staff person at the client’s or an outside bookkeeping service. Our entries include things like tidying balances of bank loans and fixed assets. This service runs for most clients from $300 to $1,000. The majority of invoices have $500 allocated here.

The Basics - This is the essential service that our clients come to us to have done the “Notice to Reader” financial statements and the T2 corporate tax return for Canada.

The financial statements are generally $1,700 for most clients. The size of the client has a limited impact on this charge because all clients must complete one of these. What does impact the charge is the complexity of the business. So we do see businesses with sales under $2,000,000 that are quite complex and we see businesses with sales over $2,000,000 with quite simple structures and financial statements.

The T2 corporate tax return is generally $1,050. There are returns that get much more expensive but those returns generally have a good reason for being more expensive; for example those returns that have Scientific Research and Experimental Development Claims on them or they have multiple jurisdiction filings.

Beyond the Basics - This is the value-added service for our clients. This is generally the annual tax planning and review of results with the owners. This can range from $300 in a simple year to thousands in a year with reorganization and bigger issues. So if you take the “average client” knowing of course that there are no average clients, everyone is unique; the annual visit the accountant’s office can range from $2,800 to let’s say $4,500. If it is more than that there is likely some extra service or special project being purchased.

We like the opportunity to quote up front for our clients. Please contact us and we will be happy to provide a quote.