Personal & Corporate Tax

Consider this- during your lifetime you will probably spend more on taxes than on any other single item. Receiving sound tax advice is more important than ever in an environment of constantly changing tax legislation. We take a comprehensive approach to tax planning, focusing on tax minimization and deferral to ensure you keep every dollar earned possible within the relevant tax framework.

Tax Return Preparation

Tax return preparation services include (but are not limited to) the following types of filings:

  • Personal (T1)
  • Corporate (T2)
  • Trust (T3)
  • T4 and T5
  • HST and Other Sales Tax Returns

For clients with US & international tax filing needs, we are pleased to coordinate with our network of foreign tax preparers to ensure all your filing requirements are met.

Compensation Planning

A primary concern of many business owners is determining the most tax-effective methods to receive compensation. We will gladly discuss the various strategies available and create a plan for achieving your compensation objectives by considering such factors:

  • Salary vs. dividend
  • Bonus distribution among owners/partners
  • Income splitting with spouse and children
  • Monthly income requirements
  • Shareholder loans
  • RRSP funding

Retirement & Estate Planning

Like many Canadians, you may ask yourself when it will be possible to retire, how much will be required to live comfortably and how to plan for the financial well-being of your spouse and family if you predecease them. In combination with a sound investment strategy, retirement and estate planning is key to addressing such considerations.

Our process for retirement planning includes:

  • Setting a retirement date goal
  • Estimating future income requirements
  • Analyzing pension splitting and other strategies
  • Calculating savings needed until retirement
  • Monitoring the retirement plan progress

Our process for estate planning includes:

  • Discussing estate structure options in the event of death
  • Identifying your beneficiaries
  • Creating a plan to maximize assets and minimize taxes/costs

Other Tax Services

There are a variety of other tax-related services which we are pleased to offer clients, addressing (but not limited to) the following areas:

  • Business startups
  • Principal residence status
  • Capital gains planning
  • Tax effects of buying/selling a business
  • Personal and corporate tax assessments, audits and appeals
  • Voluntary disclosures
  • Investing in rental properties
tax

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