Downtown Toronto Tax Advisor Tax Planning

As professional accountants, we are held to a higher standard but if it limits us in our creativity with tax strategies, its not a competitive advantage by any means. If, you are worried about CRA auditing or rejecting your tax strategies, don’t come to us. If you want tax compliance to the letter, there are more than enough qualified plain vanilla accountants out there.

The reality in Canada is that tax is your biggest liability in your life. In Canada this can equate to more than 50% of your hard earned income. It’s the one liability you will pay till death and in death.

If, this does not stir any anger or passion to do something, don’t bother contacting us. If, your looking at straight forward compliance, we are not the firm for you.

We strive for unique tax strategies that in the long run will save money year over year and help build your net wealth.

We are able to serve in various areas of tax planning some of which are interdependent. Please do give us a call and talk to one of our tax advisors to see if, we are able to help in your situation and are we the the right fit for you. We work for our clients not CRA.

Personal Tax Planning:

▪ Income Splitting
▪ Borrowing to Invest
▪ Education Trusts
▪ Tax Saving Strategies
▪ Investments
▪ Deductions and Credits
▪ RESP’s, RDSP’s and TFSA’s

Personal Financial Planning:

▪ Cash Management and Budgeting
▪ Investment Planning and Asset Allocation
▪ Risk Management and Insurance
▪ Tax Planning
▪ Retirement Planning
▪ Estate Planning

Retirement Planning:

▪ Cash Flow Projections
▪ RRSP Conversion Decisions
▪ Pension Plan Decisions

Inbound Tax Planning:

• Tax planning for Immigration to Canada
• Tax planning for Returning Canadian Expatriates
• Investment in Canadian Businesses and Real Estate by Nonresidents
• Nonresidents Carrying on Business in Canada
• Canadian Subsidiaries of Foreign Corporations
• Tax Treaty Issues

Outbound Tax Planning:

• Tax Planning for Emigration From Canada
• Post­ migration Expatriate Issues
• Investment by Canadians in Foreign Businesses and Corporations
• Investments by Canadians in Foreign Real Estate

Corporate Tax Planning:

• Corporate Reorganizations
• Incorporation of Unincorporated Businesses
• Minimizing Tax on the Sale of Shares of Corporations by Using the “capital Gains Exemption”
• Minimizing Tax on the Sale of Shares of Corporations by using “Safe Income Strips”
• Utilizing Corporate Tax Losses
• Partnership Formation, Reorganization, and Dissolution
• Optimizing Dividend / Salary Policy
• Maximizing the use of the “Small Business Deduction”
• Rolling over shares to Holding Companies
• Creditor Proofing Reorganizations
• Structuring Shareholder Buy / Sell Agreements
• Advising Foreign Corporations Operating in Canada
• Advising Canadian Corporations Operating Outside of Canada

Estate Planning & Taxes:

• Estate “Freezing” of Private Corporations so that tax on death is minimized
• Reviewing and Advising on wills in order to avoid tax pitfalls and minimize taxes payable on death
• Advising in connection with the formation and terms of family trusts created during the lifetimes of individuals
• Planning aimed at minimizing exposure to probate fees on death
• Planning aimed at minimizing exposure to U.S. estate taxes
• Postmortem Planning Aimed at Avoiding Double Taxation in Connection with Shares of Private Corporations Owned on Death
• Planning Issues Regarding Corporate Owned Life Insurance
• Structuring Shareholder Buy / Sell Agreements

Real Estate & Tax Planning:

• Ownership structures Regarding Acquisition of Real Estate
• Minimizing or Deferring Tax on Real Estate Gains
• Maximizing Utilization of Tax Losses
• Structuring Joint Ventures or Syndication
• Capital Gain Versus Income Determinations
• Principal Residence Issues
• Nonresident Investment in Canadian Real Estate
• Canadian Investment in Foreign Real Estate
• Creditor Proofing Real Estate Holdings

US & Canada Cross-­Border Tax Preparation, Planning and Compliance:

• General US and Canada Cross­border Tax Planning
• Relocation and Immigration Planning to Canada from the US or Vice Versa
• Income Tax and Stock Options planning for US Citizens Residing in Canada
• Client Representation with both the US Internal Revenue Service (IRS) & Canada Revenue Agency (CRA)
• Assistance in Meeting Foreign Asset Reporting and Disclosure Requirements

Services for US Citizens and Green Card Holders:

• Assistance in Citizenship Renunciation, Expatriation Consulting and Compliance
• US Tax Planning for Ownership or Beneficial Interests of Non ­US Corporations, Trust and Partnerships
• US and Canada Cross-­border Estate Planning
• US Tax Planning in the Event of Marital Separation
• Certification Applications for the Disposition of Taxable Canadian Property by non-­Canadian Residents
• US Tax Planning for Ownership of Canadian Business Interests

US Tax Filing under the New Streamlined Filing Compliance Procedures:

• Introduced on September 1, 2012
• Catch Up Tax Returns Package for Delinquent US Citizens and Green Card Holders
• Eligible for Non-resident US Taxpayers with Low Compliance Risk
• IRS will not Assert Penalties

US Tax Filing under the Offshore Voluntary Disclosure Initiative (OVDI):

• Catch Up Tax Returns Package for Delinquent US Citizens and Green Card Holders
• Liaise Between the Internal Revenue Service and the Taxpayers on the Submission Under the OVDI

Services for Canadian Citizens, Residents and Other Non ­US Residents:

• US Tax Advice on the Various Ownership Structures in US Real Estate Investment
• US Tax Planning for “Snowbirds” or Future “Snowbirds”