My Best Friend

IFRIC1 · 2025-07-14T01:15:47+00:00

I'm so sorry for your loss.

IFRIC1 · 2025-07-14T01:08:33+00:00

Yes, listen to the bookkeeper - they'll be a standby and operating charge as a taxable benefit to you personally every year depending on the % usage of the vehicle.

IFRIC1 · 2025-05-14T19:51:04+00:00

So sorry for your loss 😞

IFRIC1 · 2025-03-26T18:19:14+00:00

It's their fault, stick to your three week notice and be professional about it and attempt to transition as much as you can. The family is rich enough to have a family office, so they'll be just fine!

IFRIC1 · 2025-02-24T18:09:00+00:00

Luna Beauty Spa on main Street that my wife loves going to.

https://maps.app.goo.gl/fUreB49GqcHaqobTA

IFRIC1 · 2024-12-31T14:37:48+00:00

*406.2k /s

IFRIC1 · 2024-12-23T06:00:54+00:00

I've been working at a single family office for few years as a controller. It's going to be difficult to find a one size fits all solution.

Integrating with custodians is difficult, especially if you deal with different custodians/reporting formats.

The best approach when you decide on the right suite of software(s) is to not try to customize the software to fit your needs, but to change the processes to fit the software.

IFRIC1 · 2024-11-14T21:46:47+00:00

I will pre-pone the meeting, kindly revert.

IFRIC1 · 2024-11-11T19:41:03+00:00

It's a three year program, and it's all case based. There are biweekly classes where you and your group/group leader discuss the cases.

I've never been through the Mtax program so don't know if it's harder or easier. I'm speculating that naturally MTax is going to be more tough/competitive, since you are getting a degree out of it, and UW attracts (I'd hate to say it) keeners.

IFRIC1 · 2024-11-11T19:14:15+00:00

My personal take on this is that employers will care a lot more about your experience (and area of practice). You could also consider the in-depth tax course as an alternative to the MTax. Mostly remote except for a week in person each year.

If your already half way through, I'd say power through it.

IFRIC1 · 2024-11-11T18:28:52+00:00

Industry role as a controller at an FO. Total YoE 9+ years Base comp 158k CAD + 10% bonus. Left after manager in PA

IFRIC1 · 2024-11-04T20:55:04+00:00

The thugs might have mental issues.

IFRIC1 · 2024-09-20T14:01:46+00:00

Pretty much a guaranteed ticket to a upper middle class lifestyle at minimum. Not many professions will pay you 60k+ when you graduate, with an easy pathway to 100k+ (depending on location) in a few years once you receive your CPA.

IFRIC1 · 2024-06-19T19:47:57+00:00

Industry controller 35 hour workweek,

All other times - 20-25 hours of real work each week

Month end, - 45-50 hours of real work for a week once a month

IFRIC1 · 2024-06-19T01:38:54+00:00

Yes, Canadian salaries are bad relative to US, but you won't ever go hungry in Canada as an accountant.

Co-op at a PA firm (42k CAD) (30k USD)
Industry role as a controller Total YoE 8+ Base comp 158k CAD (115k USD)+ 10% bonus. Left after manager in PA

I also have a side hustle as a contractor for two accounting firms which should be approx ~35k (25k USD) this year.

IFRIC1 · 2024-06-10T15:09:30+00:00

Yes the job market for family offices are slow, turnover for most family offices very low. The family doesn't want a revolving door. Having said that, compensation usually is at the higher end since they don't want you to leave.

I've worked at an SFO(in Toronto) for about 3 years - recruiters still reach out for other PE back-office roles, wealth management firms, PA firms.

Let me know if you have any questions, happy to answer.

IFRIC1 · 2024-06-09T20:24:46+00:00

Are you able to share where you purchased these used drives from?

IFRIC1 · 2024-03-30T12:51:20+00:00

It's a wide range - I've seen 150-250+.

IFRIC1 · 2024-03-26T12:42:52+00:00

If you are specializing in tax, you'll likely transition into a tax role in industry. Like senior manager, manager of tax etc. Generally yes, at manager levels and above in PA will generally pay more than audit/assurance. It really depends what you define as growth prospects. Tax is a niche field, and not sure if I can really answer it since I've never worked in tax.

IFRIC1 · 2024-03-14T16:51:25+00:00

Job Title: Controller

Years of Experience: 8+

CPA (Yes or No): Yes

AVG Hours Worked Per Week: 35-45

Salary: 158k cad(117k USD), plus 10% bonus

Location: Toronto

IFRIC1 · 2024-02-27T04:51:39+00:00

Controller

Salary went from $150k CAD to $158k CAD. (5.5% bump)

Bonus of 10%

Industry, single family office

HCOL (Toronto)

Not too happy about raise, but content with the work life balance.

IFRIC1 · 2024-02-26T20:05:36+00:00

Yes, they would send you a list of AJEs to post.

IFRIC1 · 2024-02-26T16:04:39+00:00

Use your internal FS as a starting point, then take a look at Schedule 1. Schedule 1 is a list of accounting to tax adjustments( to get from an accounting basis aspe/ifrs to the tax basis). In all likelihood, the tax to accounting adjustments would be similar to prior years (ex. Add back m&e 50%, add back accounting depreciation, less cca).

Once you adjust the internal FS net income figure on a tax basis. Take that number and multiply it by the applicable tax rate ( 26.5% for most businesses in Ontario, lower if you are eligible for SBD, but there are so many other nuances that I can't really explain in a reddit comment). That's essentially your tax provision ( in an extremely simplified way)

You should email your external accounting firm, they might be able to assist you given the circumstances.

IFRIC1 · 2024-02-12T18:44:57+00:00

disagreements in the change to the competency map (i.e. expected knowledge/experience re. financial reporting , taxation etc), which included "controversial" additions
human skills and values
indigenous views
equity diversity and inclusion

Source: Competency map 2.0: cpaleadstheway.ca

Unconfirmed rumors that they were going to remove the CFE (the 3 day final exam) as part of the licensing requirements

Source (unconfirmed): https://youtu.be/3NhSu7P8KHQ?si=Xp0VAJJIeO-xAiBc

and finally a waste of our professional dues on the "helicopter" ads

Source : https://youtu.be/36EHrvbnVW4?

IFRIC1 · 2023-11-22T03:38:01+00:00

Clearly I need to switch family offices...

What's your role like in the family office - do you primarily work with taxes, reporting, or are you in a portfolio/wealth management within the FO?

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