Tax Planning Services
The firm invests in advanced tax software to efficiently prepare your returns. Tax planning is the utmost importance to be proactive with tax minimization and plan for changing legislation and regulations. Whether your planning for minimization, succession, estate, or a business sale, I sit down with each client and take an individualized and specific tax strategy approach to make sure your specific situation and needs are understood when making taxation advise.
At McGowan Professional Corporation, Chartered Professional Accountant we work with you to identify how to interpret current tax legislation and be proactive to make decisions today to further your position long term. We look at your long term goals and help you structure your company and tax situation so that it matches your plans.
Corporate Income Tax Preparation
An effective tax strategy ensures you aren’t paying more taxes than you should and that the amounts you do pay, are paid at the right time. Some of the areas we focus on with Corporate Taxation include: corporate structure (incorporate or not), management remuneration (salary and dividends), payroll taxes, tax planning and minimization, advice on consequences of proposed transactions, and advice on current legislation interpretation. Another service we provide is tax compliance. This covers the preparation and estimates of corporate returns, not for profit information returns, preparation of CRA ruling requests or appeals, and CRA correspondence for reviews and audits of returns.
Personal Income Tax Preparation
We help you keep in the loop with the increasing changes in tax legislation. We provide advice and planning on a range of personal tax considerations to ensure your meeting your obligations while taking advantage of any deductions. Our personal tax services encompass: financial and retirement planning, estate planning and preparation, personal tax planning, owner manager tax planning, as well as personal wealth planning.
Estate Return Preparation
You may have been asked to be the executor for a friend or family member. In order to fulfill the duties of an executor and act in the best interests of the beneficiaries of the estate, it is important to understand the estate’s income tax filing obligations. A taxpayer’s financial activities don’t stop upon death. The estate income tax returns capture the income these assets generate, including any gains that the estate realizes from the deceased’s date of death until the assets are liquidated. Engaging an accountant early in this process to understand your obligations as executor or to help plan efficiently for your own estate once you’ve passed will ensure piece of mind that your final wishes are captured in the most tax and fee efficient way.
Not-for-Profit Information Returns
Most Not For Profit Associations are ran and operated by volunteer board members. The annual reporting can be complex if not tackled and kept on top of properly.
Engage us today to help your not for profit adhere to its filing and charitable obligations.