Tax and accounting services for you and your business, so you can focus on what matters - peace of mind and financial security

Taxation

We are passionate about dealing with Canadian income tax matters.

Let us take the worry out of your tax planning and tax compliance needs. We are available to answer your tax questions and prepare your returns – no matter how straightforward or complicated your needs may be.

We provide the highest level of expertise on tax preparation and offer a personalized level of service. You will want to refer your friends and family to us.

We provide services dealing with

• Personal Tax Returns
• Corporation Tax Returns
• Trust Tax Returns
• Ongoing Tax Planning

We aim to provide proactive tax planning to minimize your tax liability. Our Tax Planning covers:

General Tax Planning:

• Recommending strategies to help reduce a family’s tax burden including establishing prescribed interest rate loans.
• Discussing strategies to minimize tax through structures such a family trusts, holding companies and insurance.
• Providing specific corporate and personal tax planning strategies for business owners.

Separation and Divorce

• Review tax aspects based on taxpayer’s situation, assets involved and work with taxpayer’s family lawyer for optimal outcome.

Purchase or Sale of a Business

• Perform or assist with due diligence, look at tax planning related to the transaction, complete needed tax filings.

Corporate Reorganizations

• This would include getting new shareholders into the corporation; business transition to next generation; converting of a sole proprietorship to a corporation; eliminating inactive businesses; review and assist with adjusting corporate structure based on business needs.

Will Review

• Review wills and recommend changes based on individual’s wishes and look at options that may reduce taxes and improve family harmony, all whilst working with your legal team.

Deceased taxpayers

• Review tax positions, tax planning options to mitigate taxes, working with executors and preparing personal and trust tax filings

Immigration and Emigration

• Tax planning dealing with immigration to and emigration from Canada.

Capital gains planning:

• Principal residence planning: Assist with evaluating this for clients who own multiple personal use properties.
• Capital gains exemption, reserves: Advising on structuring corporations to qualify as small business corporations; assisting clients with evaluating their eligibility to claim capital gains exemption.

Estate & Trust Planning

Estate planning involves planning for how an individual’s assets will be preserved, managed, and distributed after death. It also considers, the management of an individual’s properties and financial obligations if the individual becomes incapacitated. Assets that could make up an individual’s estate include houses, cars, shares, paintings, life insurance, pensions, and debt. Individuals have various reasons for planning an estate, such as preserving family wealth, providing for surviving spouse and children, funding children and/or grandchildren’s education, or leaving their legacy behind to a charitable cause.

We will listen to your wishes and needs to develop a plan that will last for years. Our aim, whilst preserving family wealth, is also to preserve family unity among beneficiaries.

As a professional advisor who is a tax specialist in the field of estate planning, we will work with your advisors or work with our recommended legal & insurance professionals in getting your estate plan complete.

A typical Estate Plan involves

• Writing a will.
• Setting up any needed trusts
• Identifying potential guardians for living dependents
• Naming an executor of the estate to oversee the terms of the will
• Identifying any life insurance needs
• Tax planning
• Creating/updating beneficiaries on plans such as life insurance, RRSPs, TFSAs
• Setting up funeral arrangements
• Establishing charitable bequests
• Setting up enduring power of attorney (POA) to direct other assets and investments

Trusts could be established to take effect during your lifetime or upon your death. Whether it is best to establish a trust during your lifetime or upon your death will depend on its intended use and your personal situation.

Our services also include:

• Periodic review of your Estate Plan
• Assistance with tax aspects of Estates & Trusts in the Post-Mortem context including
  • the preparation and filing of the terminal tax returns and any elective returns or estate/trust returns,
  • tax planning
  • obtaining clearance certificates

Accounting & Business Advisory Services

We offer a full range of custom services to suit the needs of small & medium size businesses including:

Accounting and Bookkeeping

• Preparation of Notice to Reader Financial Statements
• QuickBooks accounting help / assistance to your bookkeepers
• Provision of book-keeping

Business Structuring

We assist clients with matters dealing with starting up and expanding their businesses. The practice is focused largely on Family Businesses.

Our services include:

•  Advice to start-ups and ongoing businesses on business structures (sole proprietorship, partnerships, incorporation)
• Partnership/shareholder agreements
• Acquisition structuring and related financial due diligence aspects
• Organize business tax accounts
• Accounting

Family Business Succession Planning

Sooner or later, everyone wants to retire. Business succession planning should be a priority for every family business. Besides ensuring that you can afford to retire, what happens to the business is paramount to your retirement security. There are some things you need to consider ensuring you have the right plan in place:

• Who is going to manage your business in your absence?
• How will ownership be transferred?
• Will your business carry on or will you sell it?

We are adept at helping you assess the various options available and develop a roadmap for the successful transition of your business.