Expert income tax advice and solutions
Canada has a very complicated tax system. To put it in perspective: the Income Tax Act is more than 3,000 pages. It contains entire sections that define terms and is easily the largest piece of legislation in Canada. As a business owner, having someone who understands this long and complex piece of legislation is critical to the success of your business, your peace of mind and ultimately, your ability to protect your money.
Choosing a tax consultant
It’s an unfortunate truth that the onus for complying with the Income Tax Act falls on business owners. It’s impossible for you to read and thoroughly understand the Income Tax Act without the training we’ve gone through so you need to rely on your accountant’s advice.
But not all accountants are the same—and if you get poor advice, you’re the one who’s on the hook with the regulators. Choose your accountant wisely. Ask questions about how often their clients are audited by the CRA and how much-advanced education related to tax the accountant has completed.
In addition, never take tax advice from anyone who is not an experienced tax advisor. People think they know what they are talking about and sure, maybe they do. But there is no way they know Canada’s Income Tax Act and how it applies to your corporation and personal situation. Your tax consultant should be the only one you listen to when it comes to tax planning.
Our tax consulting services
Our tax consulting services are designed for business owners who want to turbocharge their businesses while freeing themselves from unnecessary stress and anxiety. From the first meeting, our team works closely with you to understand you and your family, your business, and your industry so we can deliver customized advice and tax solutions.
Corporate tax consulting
We look at ways to minimize tax through strategies such as corporate reorganizations and, if applicable, we help you with cross-border tax planning. We also look back to ensure that corporate tax has been handled correctly historically. Typically, the CRA only looks back three years but there is no statute of limitations on how far it can look back for things like fraud or misrepresentation. Protecting you means ensuring that you’ve been decently taken care of in the past.
We ensure your corporation is in compliance with the way it handles things like sales taxes and transfer pricing. In fact, we handle your GST, PST, and HST so you don’t even have to worry about it.
Personal tax consulting
Personal tax preparation for business owners, their spouses, and their children can be enhanced by expert tax planning to ensure the family’s business structure is set up to minimize taxes. We will look at ways to minimise tax through strategies like estate planning and succession planning. We can help you provide security for your family and help reduce or eliminate the tax that would otherwise be triggered on the transfer of your business and other assets.
Why do I need a tax advisor?
Using the expertise of a tax advisor or consultant can bring many benefits to individuals or businesses. Some of the main reasons to use a tax consultant are:
- Reduce their stress of trying to understand complex tax laws.
- Avoid errors and penalties on tax returns.
- Reduce tax liabilities.
- Gain valuable advice and insight on tax planning strategies.
- Free up your time to focus on your individual or business objectives.
Hand the stress to your tax advisor
Tax is complicated, but we understand it. Let us handle it while you focus on your job.
You’ll always be in control. Decisions are in your hands, but you’ll be making them based on high-quality information delivered by a team of knowledgeable tax advisors. We explain what you need to know in easy-to-understand language.
Reduce your stress and your tax bill and focus on what really matters. Contact us today and find out how our tax consulting services can help you.
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