For personal income tax returns we will compile your return based on the information received and then contact you by phone to discuss the results and to ask or answer any additional questions. Every return is prepared by a staff accountant and then each return is professionally reviewed in order to make sure that all claims are being made and the optimal returns are being generated. Once the results are finalized we will have you come back in to sign off and then each return is E-Filed (electronically sent) to the government.
Do you have multiple years of personal income tax returns that are unfiled?
Are you missing the records and forms necessary to file your tax returns?
We have the software, experience and procedures to help you in reconstructing the tax records necessary to file your back tax returns. Even when you do not have all of your important slips from current or previous years we can explain how to get them sent to you again. It is important to get your past due tax returns filed and we can prepare them for you. Just email us if you need us to help get your historical documents resent to you. Please contact us for assistance with you particular situation.
Should You Incorporate Your Business?
If you own a business, you may have wondered if you should incorporate. Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the major differences are in the corporate taxation structure and tax planning opportunities. When developing the tax plan for your business, you and your advisor should look for opportunities in the following areas:
- Income splitting with family members;
- Tax deferral to the future;
- Estate planning for you and your family;
- Utilization of the capital gains exemption; and
- Planning your retirement, including disposing of your business.
Since personal and corporate tax as well as family law issues can make this issue complex, please contact our office to discuss your situation.