Qualified Employees
Our team consists of qualified and experienced accountants.
Free Consultations
Our acquaintance with a client always begins with a free consultation to find out possible solutions to their problems.
100% Guaranteed
All results that you get from us are 100% guaranteed to bring you to a whole new level of profitability and financial success.
Estate And Trusts
A common misunderstanding is that only the wealthy needs to concern about estate planning. This misunderstanding often results in significant costs to the estate and surviving partners. An estate plan can lower the taxes and expenses of an estate and expedite the transfer of assets to the children.
The provincial government determines how your assets are distributed if an individual dies intestate or dies without an estate plan. Your family member would not have any say as to how the assets divided up. They could even end up with a non-family member..
With proper estate planning, you might be able to minimize your income taxes at death; all of your capital assets deemed to have been disposed for tax purposes at your death. This disposition of capital assets can result in a significant capital tax. With an estate plan in place, you can transfer the title of the assets to your beneficiaries with minimum tax consequences.
Testamentary Trust
Upon the death of an individual, a testamentary trust is created. Undistributed Income to the beneficiaries is taxed at the top tax rates applicable unless election for Graduated Rate Estate (GRE) or Qualified Disability Trust (QDT) is made.Graduated Rate Estate (GRE)
These trusts are taxed at the same rates individuals are taxed. With the conditions that the estate designates itself as a GRE and a designation must occur within 36 months after the death.
Inter Vivos Trust
Inter vivos trust is a trust created during the lifetime of the settlor. Undistributed income to the beneficiaries is taxed at the high personal tax rate. Inter vivos trust includes alter ego, joint partner trust and spousal trust.Alter Ego or Joint Partner Trust
An alter ego trust (one settlor), or joint partner trust can be set by individuals who are at least 65 years old. The trust deed term must provide that all of the income and capital of the trust are distributed to the settler during his or her lifetime. No capital gain tax is triggered when assets are transferred to the trust. A designated beneficiary may receive assets from the trust after passing of the settlor if the trust deed term provides.Spousal Trust
A spousal trust can be set up during the lifetime of the settlor. This trust provides asset protection for a spouse who is unable to manage personal finances. Â Another common reason is to protect assets for the next general when the spouse remarries. The assets in the trust would not form part of the spouse’s estate and must be distributed to the beneficiaries. Usually, the surviving spouse is an income beneficiary (the spouse does not have say how the assets are distributed) while the children are the capital beneficiary. The trust’s deed terms must provide the intention to create the spousal trust to qualify for the spousal trust.Type of Return
Income from January 1 to the date of death must be reported on a Final Return. Any income after the death must be reported on a T3 Estate Trust Income Tax Return. In addition to the final return, you may consider optional tax returns which are only available for the year of death. With optional tax returns, you can claim certain credits and deductions on more than once, reducing tax obligations.
Client Benefits
CUSTOMER SERVICE GUARANTEE
When you retain a Chartered Professional Accountant, you expect them not only to provide tax and accounting expertise but also to get your questions answered promptly. We guarantee that all enquiries will be responded to in a clear and friendly manner - without delay.
VALUABLE EXPERIENCE
We have over a decade of tax and accounting experience in our firm, across various industries. As our valued client, you will have the opportunity to leverage all of our knowledge and expertise to suit your needs.
ALWAYS ON TIME
We all know that deadlines are critical for your CRA filings. We also know that penalties and interest can be quite substantial when deadlines are missed. Therefore, we guarantee that we always deliver our tax services on-time while maintaining the quality of service.
Services
Corporate Tax
We offer corporate tax return (T2) preparation, using innovative tax planning to ensure taxes are minimized for our corporate tax clients.
Financial Statements
We understand that you need more than financial statements and tax preparation service to operate your business. You will enjoy the benefit of access to financial advisory services.
Personal Tax
We can provide individual tax return (T1) preparation services for employment, self-employment, and investment incomes
Buying & Selling
We provide estate planning services to guide you and your family through the process. We will provide a plan that accomodate your needs and ensure that the value of the estate is maximized.
Incorporation
Incorporating your business can help lower your taxes benefits and protect you and your family assets. We can provide expert advice on all related matters.
SR&ED
The Canadian government offers a tax incentive program to companies who advance technologies, known as Scientific Research and Experimental Development program.
U.S. Tax
Whether you are living, working, or investing on either side of the border, we can assist you to understand your tax obligations and devise a plan that saves your hard earned dollars.
Estate Tax
We will prepare your trust tax returns and help devise a plan that works for you.
Industry
Doctors
We strive to provide our clients with the highest level of service to meet their tax needs. Whether you are a sole proprietor, a member of a partnership or have an existing Professional Corporation, we can help you understand your tax obligations.
Small Businessess
Small business services are our specialty. We understand that the needs of each business owner are different and we provide tailored services accordingly.
Startups
As a startup founder, it may feel like you have the entire world on your shoulders. We can guide you from managing day to day operations, to planning on your long-term strategy.
Consultants
Many consultants and service providers go independent for tax savings. We will help you understand from writing off all their expenses, to living the good life.
