Areas of practice
Edward’s practice includes real estate development and investment, construction management, security investments, retail, wholesale, trusts and estates, non-resident owners of Canadian rental property, and Canadian income tax returns.
He is a QuickBooks expert. He is also an expert in using Quicken, the Intuit product that assists taxpayers in monitoring their investment portfolios and measuring their returns.
Profile
He started his career in Quesnel with Rigsby Johnston & Co. In 1965 he joined Arthur Andersen when it was still known as the conscience of the profession. He spent three years in Toronto, five years in Madrid, Spain and finished with two years in Vancouver, before starting Edward Wear Inc.
In 1999 he spent nine months in Toronto with a high-tech startup, DocSpace, and after that with another high-tech startup in Edmonton. It was these high-techs startup that enabled him to demonstrate his knowledge of QuickBooks. In these companies he demonstrated the benefit of Error-free Financial Statements on the 1st and of the Complete Financial Report (CFR). The CFR combines actual with dynamic forecasts so that management always has a good idea what their year-end actual results will be. They will also know their fume date, if that is a concern.
The CFR is something that would be of great benefit to companies in the current turbulent economic times.
Goals
He has been in practice since 1958; let’s say 50 years. He has found it to be an immensely satisfying experience. He has met and worked with some very interesting people from all over the world. He has renewed his lease for five years, to August 31, 2014. Before then he plans to choose a successor who will carry on the tradition of the quality work the firm is known for.
He always has to be looking to improve the services and how they are carried out. Many firms can say they are paperless. In the next five year he intends to make the firm more effective by taking it paperless. They have taken the first step: they have started to have their vendors’ bills and related documents stored online and they have started to have their QuickBooks files hosted online. They did this to allay the fears of clients who may consider this solution.
The next task is to take their working papers online. Eventually this will free up a lot of space and eliminate off-site storage.
This year the firm would also like to transfer to paperless T1 processing.
Education
He obtained his CA degree in 1964 and his CFP in 1998.
Professional memberships and associations
Member, Institute of Chartered Accountants of British Columbia
Certified Financial Planner
Certified QuickBooks ProAdvisor
Member, The Sleeter Group (a community of experts who provide consulting services to small business)
Publications
22 of the best tips for your chart of accounts
22 of the best tips for trust and estate planning
22 of the benefits of the complete financial report
22 of the best tips for personal tax savings (Canada)
22 of the best tips for new small businesses
22 of the best estate planning tips
22 of the best QuickBooks checkpoints
22 of the best QuickBooks tips for business
22 of the best tips for QuickBooks memorized reports
22 of the best reasons to engage a See Clearly accountant
22 of the best reasons to have your bookkeeping done by professionals
22 of the best tips for accounting for your investments
22 of the best tips for non-residents who own Canadian rental property, and a comparison of non-resident taxes on corporate and personal income
22 of the best reasons to obligate your company to pay a death benefit
22 of the best tips for using the Accountant’s Copy (of QuickBooks)
Personal
Edward was born in Vancouver and grew up and started his career in Quesnel, BC. He joined Arthur Andersen & Co in 1965 in Toronto, he moved to Madrid, Spain in 1966 and back to Toronto in 1971, and then to Vancouver in 1973.
In Madrid he learned to speak Spanish and married Isabel, although not necessarily in that order. Isabel was a teacher in Madrid; she taught Spanish at night school for many years in Vancouver and in 1992 became a real estate agent specializing in residential properties on the west side. She was a champion speaker for BC Toastmasters in 1994. They have three daughters: Sandra, Isabel, and Ana.