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Ibrahim El-awad

Ibrahim El-awad

Ibrahim El-awad

Biographical Info I was born and grew up in Lebanon, South Lebanon, from Palestinian parents. I studied and graduated from the American University of Lebanon and earned my first degree, a Bachelor of Science with a business computer major. I left Lebanon and arrived in Canada, Montreal, in February 1993 and moved to Toronto in late 1996 after I graduated from McGill university from the Chartered Accounting program.  I do not have any pets. I played soccer for so many years. I read a lot as I believe reading is the source of knowledge. I am very talented in gardening and I spend a lot of time in my backyard in the Summertime. I love traveling and would love to visit many places around the world, but the unique place and most precious place I want to visit every time I can is Palestine, Jerusalem.  The person that I always want to have lunch with is the person who stood by my side all the time and supported me in everything I did and achieved, is my wife.   Ibrahim is a passionate CPA, CGA, MBA with over 20 years of experience in the high tech, manufacturing and distribution industries. Areas of expertise include budgeting, cost controls, reporting, Corporate tax, sales tax, personal tax, and GST/HST returns, general ledgers, reconciliations, inventory, mergers and acquisitions, payroll accounting, payables/receivables, treasury and banking relations. Committed to ensuring the accuracy and integrity of financial data. Ability to assess business requirements, focus on issues and develop solutions.                     A strategically minded person who is always striving to improve processes and question the status quo. Thrives in a team setting while providing leadership and motivation to assist staff in achieving objectives. My reputation has been built on: * Being a strategically-minded person who is always striving to improve processes and question the status quo. * The ability to create and foster strong relationships in a professional and confidential manner; is open and approachable to all team members. * Being a passionate CPA, CGA, MBA with in-depth knowledge of the Canadian GAAP and IFRS. * Managing teams successfully, hiring, mentoring, coaching and training staff. * Maintaining an open, approachable manner, and treating others fairly and respectfully. * Demonstrating leadership characteristics and a strong coach - lead by example and through persuasion. * Coordinating and preparing budgets and forecasts. * Being an expert in Mergers and Acquisitions accounting. * Initiating and implementing processes and internal controls to protect companies' assets. * Being Sales and Corporate tax subject matter expert. * Selecting, implementing, and migrating accounting systems. * Leading many local projects successfully and heavily involved in global ones.

What Services Ibrahim El-awad Offers?

TAPS Financial Consulting Services Inc.

Tax. Accounting. Payroll. Services.


Provide clients peace of mind, relieve them of the headache and exceed their expectations via professional, trusted, transparent and timely advice.

Services Offered:

  • Bookkeeping and Accounting including Financial Statements preparation
  • Tax returns including:
    • Individual income tax returns including self-employed, Proprietor and partnership.
    • Corporate Income tax returns, small businesses.
    • GST/HST sales tax returns.
  • Payroll services including calculating and remitting source deductions; income tax, EI and CPP. 
  • Register all forms of business, corporations, proprietorships, and partnerships.
  • Obtain Federal and provincial sales tax numbers, such as GST/HST.
  • Newcomers services including filling out all required applications.
  • Many other ad-hoc consulting services.




Ibrahim El-awad’s Ideal Clients.

  1. Individuals who need help filing their personal taxes.
  2. Self-employed people who need help maintaining their books and filing their taxes.
  3. Small corporations who need help maintaining their books, preparing financial statements and filing their annual corporate income tax return.
  4. Any client who requires Accounting, payroll and tax advice.

Profession Certified Professional Accountant (CPA)



Ibrahim El-awad

Tax deadline extended due to COVID-19 crisis

Jackie DunhamCTVNews.ca Staff Writer @JaclynLDunham  Contact Published Wednesday, March 18, 2020 12:02PM EDT   TORONTO — The federal government is giving Canadians more time to file and pay their taxes this year, as a result of the COVID-19 pandemic. On Wednesday, Prime Minister Justin Trudeau announced the Canada Revenue Agency will defer its filing due date […]

Ibrahim El-awad

Jamie Golombek: The dos and don’ts of tax-free gifts in Canada

Canada generally has no rules limiting how much you can give, either in your lifetime or upon death Jamie Golombek July 28, 2017 12:18 PM EDT If you’ve ever considered making a significant financial gift to your children, you’re not alone. A recent CIBC poll of 3,021 randomly selected Canadian adults found that the majority […]

Ibrahim El-awad

Three D’s of tax planning

By Jim Yih Last Updated: January 8, 2020 Tax planning must include strategies to deduct, defer and divide. The concept of effective tax planning can have a different meaning and emphasis depending upon your personal circumstances. Add in the fact that governments introduce new tax legislation every year and we begin to understand why Albert Einstein said, “The […]

Ibrahim El-awad

The 8 Most Common Leadership Styles & How to Find Your Own

Written by Braden Becker @BradenBecker “A good leader should always … “ How you finish that sentence could reveal a lot about your leadership style. Leadership is a fluid practice. We’re always changing and improving the way in which we help our direct reports and the company grow. And the longer we lead, the more […]

Ibrahim El-awad

Difference Between Auditing & Accounting

by Maxwell Wallace Auditing and accounting are two different financial processes that each serve particular purposes for small businesses. In financial terms, accounting encompasses the day-to-day management of organizational finances, including staff payroll and the number of items bought and sold..Auditing is an independent review of a business’s accounting practices through internal review, an outside […]

Ibrahim El-awad

Similarities & Differences Between Accounting & Bookkeeping

by Kate Bluest; Reviewed by Michelle Seidel, B.Sc., LL.B., MBA; Updated January 25, 2019 While bookkeeping and accounting are both essential business functions, there is an important distinction. Bookkeeping is responsible for the recording of financial transactions. Accounting is responsible for interpreting, classifying, analyzing, reporting and summarizing financial data. The biggest difference between accounting and […]

Ibrahim El-awad

The Advantages and Disadvantages of the Different Types of Business Entities

by Jim Woodruff; Reviewed by Jayne Thompson, LLB, LLM; Updated January 28, 2019 Are you starting a new company and can’t decide which business structure to use? You’re not alone. Every small business owner faces this choice. It requires some thought about the type of industry you’re in and how you plan to grow and […]

Ibrahim El-awad

RRSP vs. TFSA: Why the tax free savings account is often the better choice for savers

TFSAs are generally better for people with modest or low annual incomes RRSP or TFSA. Which one is better? Illustration by Chloe Cushman/National Post files The Canadian Press David Paddon February 21, 2019 2:07 PM EST Filed under Personal Finance   Retirement TORONTO — The registered retirement savings plan (RRSP) is one of the best-known tax […]

Ibrahim El-awad

Don’t drown in debt to beef up your RRSP

  Remember, there’s bad debt and good debt by Linda Nguyen, The Canadian PressFeb 14, 2017 TORONTO — When Patrick French was about 18 years old, he got a hot tip about a gold mining stock. The problem was he was a student with no money, but he still wanted to cash in on the “can’t […]