Andy Silman from Silver Fox Accounting

Andy Silman

Silver Fox Accounting

About Us

Silver Fox Accounting is a boutique accounting firm. We originated our firm from under another banner, Our friend asked how can you communicate all the experience you gained while you got grey? That was the naming event for Silver Fox Accounting.

I became a Certified Professional Accountant more than 40 years ago after a whirlwind career in IT and a great deal of education. The firm is run jointly with my wife, Andrea. The strategy behind this approach is that I occasionally speak like an accountant and she translates it into plain English so our customers can understand the proposed strategies.

I think of myself as the swiss army knife of accountants because of my training and experience in many areas. We handle accounting, bookkeeping, taxes, financial planning, tax planning. cash management, and cost accounting. We also love handling unusual clients such as a talent agent and a sports agent rolled into one. Because we are a boutique firm, we enjoy cross-recommending and networking clients where appropriate.

We have had a client come in with many years of receipts and unopened CRA letters in a shopping bag, not even a nice shoebox. We completed their books and tax returns from there.

For CRA issues, we have thawed frozen bank accounts within 1 week for clients in Ontario and Quebec. We believe in working with the CRA in a cordial and friendly manner to resolve problems as quickly and as painlessly as possible. We have also released a salary garnishment in less than one week. Obviously, these instances vary by the individual case and how angry the client got the assigned collector. In all cases, we try to maintain a friendly collegial relationship. The reason for this is our recognition that taxes must be paid and our job is to keep it to the legal minimum.

For other clients, we have undertaken numerical analysis, policy, or governance development, the creation and continuing accounting for a non-profit organization. We provided business valuations on the purchase of a restaurant as well as develop their business plan for long term financing. We have also provided advice to a small service business owner whose retail prices did not cover their costs.

Our approach is to meet the client's needs at every turn. With the exception of planned and pre-announced vacations, we have never failed to return a clients' telephone call or email request within 4 business hours.

We also like dealing with and helping new immigrants, because I came to Canada as a child refugee and I am grateful for the opportunity. That is the other reason, why we ensure that our clients understand every nuance of our recommended strategy.

How We Got Started

Working for all levels of government in Canada as well as the private sector, I retired in 2016 and hung out our shingle. I do not know how I ended up exactly as an accountant because I started out in IT, but upon doing my family tree research, I found that the last 6 generations of males on my mother's side were accountants. So I guess becoming an accountant was inevitable. Working with a small business was also inevitable because my father was an entrepreneur as was my wife's father.

My record for back tax returns currently stands at 19. While I do have the software, I do not want to beat that record prior to 2025.

Products & Services
Silver Fox Accounting and Business Support by Silver Fox Accounting
We provide a free one-hour consultation to any local business seeking our accounting, tax or business advice. We hope that this would be the start ...
Free Tax Advice by Silver Fox Accounting
Call me for a free no-obligation 30-minute tax consultation/advice. I promise not to waste your time. Andy
Cash Flow Management by Silver Fox Accounting
Healthy cash flow is essential for a healthy business. Silver Fox Accounting will help you manage cash flow with strategies for lean and unpredicta...
Recommendations Given (88)
"Great Customer Service"
"Very reliable!"
Recent Activity

Andy from Silver Fox Accounting Answered this on October 17, 2021
Though I spend as much time working from home via Zoom or some other visual medium as possible. (more) Though I spend as much time working from home via Zoom or some other visual medium as possible.

Andy from Silver Fox Accounting Answered this on August 01, 2021
I have been incredibly busy applying for government grants for my clients. COVID is a double-edged sword. People need accounting but since their businesses are hurt, we have to back off on any collection action to let them recover. (more) I have been incredibly busy applying for government grants for my clients. COVID is a double-edged sword. People need accounting but since their businesses are hurt, we have to back off on any collection action to let them recover.

Andy from Silver Fox Accounting Answered this on September 09, 2020
I love working from home. Thank you cable internet and flat long-distance calling. I usually exchange envelopes in parking lots when I have to meet a client, but my telephone marketing skills have improved significantly. The biggest obstacle is getting paid by clients whose businesses have been... (more) I love working from home. Thank you cable internet and flat long-distance calling. I usually exchange envelopes in parking lots when I have to meet a client, but my telephone marketing skills have improved significantly. The biggest obstacle is getting paid by clients whose businesses have been shuttered.  We will work our way out of it, but it will take time and perseverance.

Andy from Silver Fox Accounting Answered this on May 22, 2020
I have read the answers below and find that they all pretty much say the same thing and I agree wi9th my colleagues, the preparer should allow you to only pay for the value you received if anything at all. I have fired clients I do not like to work for, however that is not an indication of... (more) I have read the answers below and find that they all pretty much say the same thing and I agree wi9th my colleagues, the preparer should allow you to only pay for the value you received if anything at all. I have fired clients I do not like to work for, however that is not an indication of anyone`s skills. If you are dissatisfied with the service, leave the individual an appropriate reference, but first, settle your debt so that you can walk away clean. There are so many basement `professionals` who hang out their shingle so clients must always ensure they get value for money but at the same time the `professional` do not learn on your dime. Reach a compromise and consider it a cheap lesson in reference checking.

Andy from Silver Fox Accounting Answered this on April 22, 2020
Unfortunately, it depends on the individual landlord and the back end support that the landlord has. Unless the government provides direct back end rent support as they did in the Czech Republic, it will directly depend on the magnanimity of the individual landlord or corporation. Many of my... (more) Unfortunately, it depends on the individual landlord and the back end support that the landlord has. Unless the government provides direct back end rent support as they did in the Czech Republic, it will directly depend on the magnanimity of the individual landlord or corporation. Many of my clients are shuttered because of the pandemic and some will never be able to reopen, but landlords in some cases are postponing or even forgiving rent payments and mortgage payments to keep a good tenant or owner.   The difficulty of meeting rent or mortgage payments is a wide-spread issue as are the individual landlord and mortgage holders' responses.

Andy from Silver Fox Accounting Answered this on September 23, 2019
Borrow slowly and carefully. Be sure to pay back on a timely and predictable basis so that you can establish and continue to raise your credit rating. Starting slowly and carefully is the best way to establish your reliability. Use the skills of your professional accountant to assist in this... (more) Borrow slowly and carefully. Be sure to pay back on a timely and predictable basis so that you can establish and continue to raise your credit rating. Starting slowly and carefully is the best way to establish your reliability. Use the skills of your professional accountant to assist in this process.

Andy from Silver Fox Accounting Answered this on August 23, 2019
Most accountants drive forward by looking into the rearview mirror instead of the windshield. They report on what was not what will be. Trend analysis allows you to forecast through the windshield as does comprehensive budgeting and variance reporting. A good accountant will also tell you when... (more) Most accountants drive forward by looking into the rearview mirror instead of the windshield. They report on what was not what will be. Trend analysis allows you to forecast through the windshield as does comprehensive budgeting and variance reporting. A good accountant will also tell you when you can expect to run short on cash based on your sales projections or when you have become inventory heavy. You expect your accountant to continually revise and fine-tune your business model as a vital member of your management team.

Andy from Silver Fox Accounting Answered this on July 17, 2019
Bookkeepers are transaction-driven and accountants are outcome-driven. This does not mean that a bookkeeper is less intelligent than an accountant, it just means that their focus is different. Bookkeepers record transactions like history and accountants are supposed to interpret history to come... (more) Bookkeepers are transaction-driven and accountants are outcome-driven. This does not mean that a bookkeeper is less intelligent than an accountant, it just means that their focus is different. Bookkeepers record transactions like history and accountants are supposed to interpret history to come up with enhanced results. Some bookkeepers do try to do this with great success and unfortunately, some accountants continue to drive by looking in the rear-view mirror. A good-business requires both types of support to succeed and hopefully, they can afford to get it. Accountants should always work with their clients to help them move towards their mutually understood and agreed objectives. These objectives include cash flow management, financing, and tax planning all the way to estate and succession planning.

Andy from Silver Fox Accounting Answered this on May 22, 2019
that question is as difficult as what is the best automobile. It depends on what you need and what you want to use it for. If it is just general accounting, no systems are the same and it depends on the level of support you receive from your accountant or bookkeeper. If you’re keeping your own... (more) that question is as difficult as what is the best automobile. It depends on what you need and what you want to use it for. If it is just general accounting, no systems are the same and it depends on the level of support you receive from your accountant or bookkeeper. If you’re keeping your own books, and need extensive support I have found the Quickbooks team to be the most responsive. If you do not want to spend money on any system and they’re satisfied with a slightly less level of service, consider wave system.  Thing I like about the wave system best, is that it is completely free, except when you do payroll or accept credit cards.  If you want to keep everything out of the cloud, you may want a simple desktop system such as simply accounting or Tax returns and other potentially expensive issues where lack of knowledge can cost you a lot of moneyQuickBooks desktop. Again depending on your needs try and get the system with the best support so that you can continue moving forward without having to pay for a lot of professional advice. Do you remember to see professional advice when doing your taxes  and other items such as bank loan applications, because these areas could cost you a lot of money 

Andy from Silver Fox Accounting Answered this on April 05, 2019
Dear Yves Marie As an accountant, I strongly believe that trust is earned and should never ever be questioned. My motto for our clients is that "we will keep your tax liability to the legal minimum". With that, honesty cannot become an issue ever. It is taken for granted just like a safety... (more) Dear Yves Marie As an accountant, I strongly believe that trust is earned and should never ever be questioned. My motto for our clients is that "we will keep your tax liability to the legal minimum". With that, honesty cannot become an issue ever. It is taken for granted just like a safety standard or when you buy jewelry from a reputable jeweler, you know that sterling silver contains exactly 92.5% silver and not 92.4% or less. While we all make mistakes sometimes, we are not subway advertising a foot-long for 11 inches of bread.

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