Cody & James Chartered Professional Accountants is looking out for you.

There’s a certain comfort you feel when you’re in good hands. You worry less. You don’t stress over details. You focus on today.

Getting it done. Before you even know you need it done.

There are different ways to look at financial health and taxes. For a lot of accountants, it’s about responding to numbers, details and deadlines.

And sometimes that’s enough.

Other people want a partner. Someone to look ahead. Someone who knows their unique personal and business situation—helping them organize, streamline and save money.

Just because we work with numbers, doesn’t mean you have to feel like one.

At Cody & James CPAs, our business starts with people. In fact, most of the clients we started with 20 years ago are still with us. Providing personal service is how we provide a better financial service. The more we understand you, the more we can help—from maximizing personal deductions to delivering unique business insights.


We have settled into our brand new office and you can now find us at;

260 Milroy Dr, Unit #1
Peterborough, ON
K9H 7M9

News and Events

  • Are you Buying a Rental Property & Can’t Decide If You Should Own It Personally?

    Written by:  Suzanne Cody CPA, CGA
    If you are planning to delve into real estate as a source of income, there’s a lot of decisions you will need to make. One very common one is how to structure the ownership of the property. Two of the most common structures are personal and corporate. There are others, but they will not be discussed in this article.

    The most simple ownership structure is to own the property personally. Any income earned from the property is reported directly on the owner’s personal income tax return. This minimizes government reporting costs as compared to those of a corporation.

    A corporation is a separate legal entity and can be thought of as a separate person responsible for its own debts, obligations and, actions. Any income earned from a property owned by a corporation will be taxed within the corporation and can be paid out to shareholders as dividends. It is necessary for the corporation to file its own income tax return annually.

    So that there is no advantage to earning income within either structure, the Federal Government has an integrated approach to its taxation. This means that regardless of whether the income is earned personally or corporately, the taxes paid should be the same. The result is that depending on personal circumstances, there may still be a small tax savings to owning the property personally.

    Generally, it is more economic to structure the ownership personally when there is a single owner and the properties are small rental properties because of the additional reporting costs associated with a corporation. When there are multiple owners and large properties involved, it may make more sense to form a corporate ownership structure to create flexibility for income splitting and estate planning.

    You should seek professional advice from your accountant surrounding your own specific circumstances.

    Follow Suzanne on Google+ by clicking here

  • So You Want To Start a Business….

    Written by Gwyneth James MBA CPA, CGA

    You have an idea, a talent, an itch to be an entrepreneur. How do you make it a reality? There are many books written on the subject and your friends have lots of opinions, but where you really should start is with a free meeting with an expert. There are three main options in Peterborough:

    • The Business Advisory Centre at the offices of Peterborough Economic Development (210 Wolfe Street) has free advice on starting a small business and they frequently have free sessions with local professionals.
    • The Peterborough Community Futures Development Corporation (351 Charlotte Street) also provides free advice with the added benefit of offering small loans and grants to successful applicants.
    • The Greater Peterborough Innovation Cluster (270 George Street) has Entrepreneurship & Small Business Programs and mentorship from local business leaders.

    In addition, both the provincial and federal levels of government have websites dedicated to the subject which are packed full of information. A quick Google search using “starting a business in Ontario” will get you started.

    You need to do research and you need a plan. Specifically, you need to research how your idea would stack up in the marketplace – these are known as the 4 Ps: pricing, product definition, promotion strategies, and place (where to sell). Once you have that information and have made your sales projections you need to find out all the potential costs and do a financial plan showing the cash flows.

    It’s easy to come up with business ideas, but not as easy to actually launch and build a profitable business. Many start-up businesses fail in the first few years so make sure you do your homework!

    Schedule your free 30-minute consultation today for more advice!

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