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Case study 1 - Awash Systems Corp

Michaawashel Koff & Associates has been a tremendous asset and partner to our company.  Since we have begun our relationship some 4 years ago, we have had unparalleled success in all aspects of our business and personal situations.  Mike has been able to master our company’s insights as well as offer strategic, executable and justifiable plans to solidify both my company and my family’s future.

Case study 2 - theadlibgroup

“He’s been an advisor as well as an accountant. The man knows business. Who he is as a resource is an accountant who goes way beyond traditional accountant expertise to help us answer fundamental questions about how we structure our business so that each of our choices creates wealth… many times in areas we never anticipated it.” ~ Michael Abramson, YamChops Vegetarian Butcher Shop (former Owner, theadlibgroup) 

tagIn the early 1990’s we hired Michael Koff & Associates, CPAs as the accountant for our boutique marketing agency. He was different. Yes, he set up the charts (or “goals”) for the business. But he didn’t stop there. He helped us create possibilities for the business that didn’t exist, even in our imaginations. With his help, we articulated goals that went beyond what our logic told us was “achievable”.

We ran the agency for over 25 years. During that time we achieved and exceeded our goals – and we don’t mean just the “achievable” ones.

After 25 years we were ready to move on to our next project and MKA was vital in the sale of our business. He prepared the paperwork, brought in the right experts, advised and negotiated. He scaled our receivables so that we were compensated for work completed prior to our sale date… a savings of over $70K. We got the price we were asking for the business and the timeline for handing over the reigns that we wanted. MKA was way more valuable in this process than even our lawyer!

After the sale of our marketing agency he helped us create the model for our new business… Finally a food concept of our own! Within its first three months of business, this concept won media attention from the Toronto Star, The Globe & Mail, the CBC, Breakfast Television, TrendHunter, Toronto Life and many more.

Case study 3 - FTT Limited

“We have an outstanding relationship with Michael Koff & Associates and their staff. They are extremely knowledgeable and professional and are a huge factor in keeping our company on track. Michael Koff has been our business partner since 2000 and has helped us achieve many goals from Accounting to Financial Planning to Company Buyouts and Estate Planning. I would highly recommend Michael Koff to anyone wanting to see a difference. The level of service sets them apart and they go that extra mile.” ~ Arthur Brook

FTT logoThe below story is an example of what we mean when we say we are our clients’ “financial quarterbacks”. Our intimate understanding of our clients’ business and personal finances, coupled with our broad range of experience in all matters of finance, enables us to coach our clients all the way to the achievement of their goals.

MK&A was retained by a client who had recently sold his company. With 25% interest and no day-to-day input in the business, he was troubled when the new owners of the company ran into financial difficulty. Working with him, we discovered that what he really wanted was to retake the helm of the company, so we negotiated with the existing shareholders to reacquire all the shares for a loan to be repaid out of future profits.

Under our client’s leadership, the company became profitable again within two years, and repaid the purchase loan to the previous shareholders. By this time, our client was contemplating retirement, so we assisted in developing the business valuation and offer price, marketing the company’s unique strengths and presenting to interested buyers.

Although we received an offer at close to asking price, our client realized that full-time golfing wouldn’t provide the stimulation he needed and called off the sale. Once again, we were up to the challenge, and worked with him to build a management team and gradually transfer operating responsibility to them. Five years later, our client is in his 70’s, winters somewhere warm each year and drops into his office twice weekly to say hello. The company is doing extremely well and our client is thrilled to be earning excellent money while working only a few days a week.

Our next challenge was to formalize his succession plan and update his estate plan. Again, we brought our meticulous approach to this task, designing a plan that covered everything from probate fee planning to income tax minimization to ease of administration of the estate.

There is every reason to expect the company will continue to thrive under the new management group, and my client is thrilled that the company he founded will continue beyond his own lifespan.

Accounting for your whole life.

Throughout this entire period, our client had retained MK&A to help him build his wealth and net worth, so we were intimately involved in quarterly meetings with his investment advisors, wherein we examined the status of his investments in relation to his retirement needs. As circumstances changed we could exchange ideas with the investment advisors and adjust our strategy as required.

 


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