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Outsourced Accounting and Advisory Services

Our team of accountants will work with you to cost-effectively and efficiently maintain your accounting records.  We utilize cloud-based software to integrate your point-of-sale system, payroll, payables, and any other automated processes.  As a small business owner, this would free you up to concentrate on your business.  Your accounting records will always be up to date and accurate–allowing for a more informed decision-making process.  In addition, your tax preparation will be timelier.

Our accountants will meet with you periodically and work with you to determine meaningful deliverables.

Services Provided by our Outsourced Accountants

  • QBO Hosting
  • Recording most, if not all, transactions
  • All Reconciliations for Bank, Credit Cards, Payroll, and Loans
  • Accounts Payable
  • Sales Tax Filing
  • 1099 Preparation
  • Money and Debt Management
  • Process Improvements
  • Cost Savings Review
  • Compliance Requirements

Three Things to Know for Q4 2024

The final quarter of the year is often a busy time, but it’s also an opportunity to prepare your business for a successful start to the new year. Whether you’re navigating evolving cybersecurity threats, preparing for regulatory changes, or getting ready for payroll updates, here’s a quick rundown of what to know as we wind down the final quarter of the year.

Cybersecurity: Stay Vigilant Against Holiday Scams

It’s the height of the holiday season, and with it comes an increased risk of cyberattacks targeting small businesses. According to recent data, one in three small businesses was targeted by a cyberattack last year. As you shop online for holiday deals, be especially cautious of scams. Common threats include fake holiday sale emails containing malicious links that can compromise your business’s systems.

Here are a few tips to stay protected:

  • Buy from reputable websites or brick-and-mortar stores.
  • Be cautious when connecting new smart devices to your business network. Ensure they have the latest security patches and configurations before use.
  • Educate your team on the importance of verifying email sources and avoiding suspicious links.

Corporate Transparency Act BOI Reporting on Hold

A recent ruling by a Texas Federal Court has temporarily halted the Corporate Transparency Act’s Beneficial Ownership Information (BOI) reporting requirements. The court raised constitutional concerns, providing relief to the millions of businesses preparing their filings. For now, those who have already filed need not take further action, and those who haven’t are not required to file at this time. As the issue moves through the courts, changes to the reporting requirements may occur in 2025. We will keep you updated.

Payroll Update: Overtime Rule Changes

A recent federal ruling has delayed the implementation of the Department of Labor’s new overtime rule, which was set to raise the salary threshold for exempt employees. The court vacated the rule, citing concerns over the methodology used to determine the thresholds. As a result, we will monitor further developments and issue updates since the new rule may still be modified or reinstated in the future.

If you need assistance navigating these changes, please contact us for expert advice tailored to your business needs.

Christopher M. McDonnell

Manager

Christopher joined Canon Capital in June 2021. He is a CPA with a wealth of public accounting experience. Christopher graduated from Immaculata University with a Bachelor of Science in Accounting. He is a member of AICPA and PICPA and currently serves as the treasurer of the Indian Valley Chamber of Commerce. In his free time, you can find Christopher surfing, reading, or working on home improvement projects in the Pennsburg home he shares with his wife, Kaitlin, and son, Calvin.

 

Steven L. Moyer

Shareholder & Director

Steve has been with Canon Capital since 1999 and has been practicing in public accounting for over 30 years. He received his BS in Accounting/Business Management with a minor in Psychology from Eastern Mennonite University. He is a member of the American Institute of Certified Public Accountants (AICPA), the Pennsylvania Institute of CPAs (PICPA), the National College Advocacy Group and the AICPA Tax, Personal Financial Planning and the Forensic and Valuation Services sections. Steve specializes in personal and business tax, estate and trust tax planning and preparation, foreign tax issues, personal financial and college planning services, and business tax planning. In May 2025, Steven was one of five accounting professionals nationwide appointed to serve a 12-month term on the AICPA Tax Practice Responsibilities Committee (TPRC). He also has significant experience in church, non-profit, and private foundation tax areas. In addition to being a CPA, he also holds the Personal Financial Specialist (PFS) designation, the Chartered Global Management Accountant (CGMA) and the Certified Specialist in Estate Planning (CSEP) designation. Steve and his wife reside in Souderton. Steve has three children and enjoys traveling, playing sports, gardening, and bicycling.

Company Profile

A Note from the Managing Directors

Here at Canon Capital, the entire team is committed to helping you grow and preserve your wealth. In fact, that’s been our underlying focus since this practice was first formed in 1987.

At that time, we identified a need for accounting services in the region and we set about creating a practice that could successfully support clients’ taxation, taxation planning, and more.

Since then the practice has successfully helped over a thousand clients, all with similar needs to you and many facing challenges that might also be similar to yours. Our team has grown from just 5 to 35 members.

 

We’ve come a long way.

Other changes have taken place too. Some time ago we became aware of a number of business clients who were grappling with so many different issues that we wanted to help. We wanted to be able to say “here’s how to generate the extra sales you need” rather than just talk about the historical financial results.

So much so that we set about changing our firm, improving it for the better and turning it into something really special for you. To do that, we worked hard to fully educate ourselves on all sorts of issues – business development, growth, strategy, human resources, marketing, sales, management, operations, systems, customer service, performance standards, business health checks and more – as it applies to businesses like yours.

We attended courses, studied, invested in new resources, tools and software to be able to help you grow your business, rather than just track your results at year end. Of course we’ve maintained our core competencies and in fact, took them a step further by maintaining ongoing professional education.

 

Staying focused on the road ahead.

Now you can benefit from more – more support, more advice, more services and more results. Where accounting has often been about tracking historical results, accounting at Canon Capital has shifted to doing much more than that. Here, we’re focused on mapping out the future for your business and personal financial needs  – keeping our eyes firmly on the road ahead and on helping you achieve the results you’re looking for.

Call 215-723-4881 now to make an appointment for a free consultation and needs analysis to discover the difference for yourself.

Sincerely,

Michael S. Witter
Peter J. Roland
Managing Directors

Personal Financial Planning

Our team of PFSs (Personal Financial Specialists) work with individuals in a variety of areas including financial planning, income tax planning, insurance planning, investment planning, charitable planning, and financial independence.

Services Provided by our PFSs:

  • Retirement Planning & Social Security Planning
  • Assistance With Drafting Wills, Living Wills, & POAs
  • Trust Establishment
  • College Tuition & Scholarship Planning
  • Personal Net Worth Analysis

Business Advisory

At Canon Capital, we know what it’s like to lose sleep over tough business challenges, especially in today’s environment.  Our team of Certified Management Accountants (CMAs) have years of experience in working with business owners to create strategies that work.  Whether you are looking to grow your business or looking to start, acquire, or sell a business, we will help you work through the issues and make the right decisions.

Services Provided by our CMAs and Business Advisors:

  • Acquisition & Disposal Strategies
  • Capital Structure & Entity Advice
  • Controller Services
  • Organizational Management

Making a Difference, One Shoebox at a Time

We recently wrapped up our second annual Pack-a-Shoebox Party for Operation Christmas Child, an organization dedicated to bringing hope, joy, and the message of love to children around the world through simple gifts.

Thanks to the enthusiastic efforts of our team, we packed an incredible 53 shoeboxes filled with toys, hygiene items, and school supplies. These boxes are on their way and will soon brighten the lives of children in need, reminding them that they are cared for and not forgotten.

A huge thanks to everyone on our Canon Capital team who participated and contributed to this heartwarming cause. Here’s to making an impact—one shoebox at a time.