Tax Accounting and Planning Services Calgary
Our services include strategic tax advice and guidance that you can trust
Strategic tax accounting and planning provided to our small and medium business clients helps to minimize their taxes. This is done within the frame work of tax legislation.
Strategic Tax planning
Our personal and corporate tax planning will guide you the complex Canadian tax system. There are several reasons why you should leave this to a CPA firm. We keep current on new tax laws and legislation. Therefore, we can identify key personal and corporate tax planning opportunities for small and medium sized corporations.
The basic objective of tax planning can be summarized as follows:
- Tax reduction
- Tax deferral
- Income splitting
Personal tax planning strategy involves increasing your net worth while taking advantage of tax credits available to you. Our tax planning advice could be to structure your financial affairs to make your interest tax deductible. You may deduct interest incurred to obtain income from a business, or investment, move investments to registered plans, pool medical expenses, incporporation if you have a business.
Corporate tax planning strategies include, making the right choice of personal compensation options as it relates to dividends, salary, bonuses, or shareholder loan repayment, dividend sprinkling, business-use-of-home expenses, automobile expenses and use of non – capital losses.
Tax accounting
Are you worried about filing your corporate tax returns? Our reliable tax accountant can help you with tax compliance tips. Our client tax returns are filed on time. We explain the tax compliance obligations to our individuals, self – employed, corporations. We help them file their personal tax, corporate tax, goods and service tax (GST). As your tax accountant, we prepare and file corporate income tax for your business. This includes the Federal T2 return, Alberta AT1 return, and T5013 partnership returns. This includes information returns such as T4, T5, T5013, and T5018.
We assist with the personal tax preparation and personal tax planning of the shareholders of our corporate clients and those individuals who own rental properties, investments, consultants who have self- employed income. The T1 income tax return package comes with Statement of Business or Professional Activities (Form T2125). This is used to report the business income.
Engaging a CPA at our firm to file your personal taxes will ensure that it is accurate. We provide you with tax planning, stability and record retention.
Why choose RAPC for your taxes
- Practicing CPAs are required to hold a license.
- We need to comply with the high standards required by the profession
- Do your taxes at a competitive fee
- We are always available to answer your tax questions, give tax planning advice
- Prepare accurate tax returns
- Discuss your tax return with you before we e – file
- File your tax return on time and avoid penalties and interest
- Use the best technology to do your taxes
- Digitize all your tax records and maintain all your records
- Assist and represent you in a CRA tax audit
- Evaluate your corporate structure to help you optimize your position
- There are around 20 non – refundable tax credits that can be claimed on T1 returns. Some of these are based on income but also on complex eligibility requirements. There also numerous special deductions that can be claimed by individuals under various situations provide they comply with strict criteria and rules.
Trust and Estates
Trusts can provide a convenient and cost effective mechanism for splitting large amounts of property income among family members.
Through careful and effective estate planning strategies we can help our clients transfer their assets to their beneficiaries. This provides security to the surviving spouse. Hence, this helps to reduce or eliminate the tax due on the transfer of your business.
Through careful and effective estate planning strategies we can help our clients transfer their assets to their beneficiaries. This provides security to the surviving spouse. Hence, this helps to reduce or eliminate the tax due on the transfer of your business.
