✔ Tax Planning Strategies
With our deep understanding of the tax law, we know how to help you to plan your affairs to minimize your tax liability legally and safely. We have helped countless business owners and professionals to minimize their tax liability. Remember that only accountants specializing in tax can develop the most efficient and effective tax planning strategies.
✔ CRA Audit Representation
We understand how the CRA auditors think and function which can be more important than knowledge of the tax law. Secondly, often, we understand the tax rules better than the CRA auditors. Therefore, we always have the edge over the CRA auditors when it comes to working with the CRA auditors on behalf of our clients.
✔ Estate, Retirement and Succession Planning
Tax liability at death can be enormous. All assets of the deceased taxpayer will be taxed all at once. Imagine the kind of tax bill! It is essential to employ estate planning techniques to minimize tax liability at death. Equally important, it is important to employ estate planning techniques to ensure assets are distributed in accordance with your wishes. It Is therefore essential that you use our expertise to help you. Do not delay.
✔ Non-resident Taxation
First, more often than not, it is not clear if a taxpayer is a resident or a non-resident for income tax purposes. And then, we must also keep in mind that non-residents are taxed very differently than residents. For example, a non-resident is subject to withholding tax when making RRSP withdrawals. In this example, the taxpayer might want to employ residency planning techniques so that he or she can be considered a resident if the taxpayer wants to avoid non-resident withholding tax. Let us help you to avoid costly and stressful mistakes. We have in-depth knowledge in non-resident taxation.
✔ Scientific Research and Experimental Development Tax Credits
Canada’s Scientific Research and Experimental Development program is one of the most generous in the world. It has helped a lot of Canadian companies to develop innovative products. However, it is an extremely complex area of taxation. Partly because it is necessary for the government to minimize abuse and partly because it involves deep understand of research and development. The government has recently reduced the amount of tax credits and refundable tax credits available. It now takes more even more expertise and knowledge to qualify for the best possible tax credits. It is important that you should go to an expert such as Victor Lee CPA in order to claim the maximum possible tax credits.
✔ Business Financing
Most businesses are established with financing. It is an efficient way to fund a business instead of tying up precious working capital. However, there are thousands of lenders and they offer vastly different terms and rates. Furthermore, the loan application process can be complex as well. We can help to find the best terms and rate and simplify the application process.
✔ Personal Tax Returns and Corporate Tax Returns
Risk of a CRA audit is greatly increased if a tax return is not filed correctly. A CRA audit is always time consuming, stressful and possibly costly as well. Therefore, it is important to file correctly. Of course, knowing and understanding the tax returns well can help you to minimize your tax liability. As well, unless you are an experienced tax return preperar, it can be time consuming to complete a tax return. Why not use that time for more profitable activities or be with your family and let us help you with your tax returns.
✔ HST, source deductions and other remittances
What happens if you are late with you are late remitting your payroll source deductions to the CRA? There will be penalty! There are multiple remittance dates (such as HST, payroll source deductions, EHT, WSIB..etc) to remember and comply with. Why spend time on these remittance requirements instead of spending time on your business to earn generate more profits. We can certainly help you with all these remittances so that you can focus on generating more profits.