Tax planning will make you money
Tax planning will help you keep the maximum amount of your hard earned cash that is legally possible. The difference can be many thousands of dollars. It's never too late to start, however, the sooner in the fiscal year you begin, the more money you will save.
Business Tax Planning
When we help you with your tax planning, you receive a tax-planning document that contains all the specifics you need to be ready for tax season. This document is about your situation, using your numbers and your situation. There's nothing generic about it..
The first step is making sure your books are up-to-date. If they're not, our bookkeeper can work with you to prepare them. The best time to do this is mid-year.
What you receive
In the planning recommendations, we summarize your existing income tax planning already in place and make additional recommendations with respect to such things as RRSPs, tax shelters, investments and income splitting, as well as business recommendations.
We will meet with you to go over the memo or, if you desire, send you the document for your own review.
Individual Tax Planning
Tax planning is just as important for individuals as for companies. And there are many opportunities to lessen your tax burden we can help you plan for.
First, you receive a Yearly Tax Return Check List and Year-End Information at the end of January.
This document includes information on new income tax laws applicable to individuals, a detailed description of the RRSP rules in layman’s terms, along with planning points for you to consider regarding RRSPs, an explanation of the Home Buyers Plan and an update on the Registered Education Savings Plan (RESP).
You can request a meeting part way through the year to review your tax situation and discuss your tax planning. In some circumstances, a detailed tax plan is needed, as for businesses (above).
We can help you with your bookkeeping or do it yourself. (A key to tax planning is accurate and timely bookkeeping.) We also need all information on your RRSPs, tax shelters, as well as contact names and telephone numbers of your financial advisor.
With all this information, as well as your Notices of Assessment, we can begin helping you pay fewer taxes.
A valuable document for other professional advisors
When you go to your financial advisor for investments, RRSPs, tax shelters, etc., by bringing the tax planning document you receive from us, they can see our tax recommendations, your plan and thereby provide you with products that fit the plan.
Client support at every turn
Every step along the way, our support staff works closely with you. You will find answers to most bookkeeping and general financial questions you have. If you need help to set up your GST and PST numbers, we're here to help. If you're looking for information we can't help you with, our staff will provide websites and phone numbers of places that will have the information. If you're interested in the Simply Accounting system, our bookkeeper can provide information on its workings.
Contact us at 905-882-2100 or
300 John Street, Suite 500A, Thornhill, Ontario L3T 5W4