Plan your Taxes, Maximize Profit
“Taxation is plucking as many feathers from a chicken as possible without making it squawk too much!”
– Inspired by Jean Baptiste Colbert
Taxes are a necessary evil in Canada. Running afoul of tax law is dangerous and it can take many years to recover from tax infractions. Instead of allowing the tax system to run your life, the best plan is to have a tax plan. You should only be paying your fair share.
What is tax?
Taxes are required by the government to operate all of its different programs. For example, taxes pay for roads, schools, COVID relief plans and big pensions for government workers. The government has very complex rules to determine how much taxes are required from people who live and operate businesses in Canada.
- When tax returns are not filed on time they are assessed late filing fees, penalties and interest. Paying these extra charges use up valuable cash and makes it difficult to get caught up.
- Improperly filed taxes results in legitimate tax deductions being missed. In addition, if the filed return confuses Canada Revenue Agency (CRA), it will trigger an audit which costs even more money and time.
- People fall behind on paying their taxes. If they don’t have enough money to pay CRA, a repayment plan must be negotiated. This process is stressful and damages family relationships.
Our professionals work with you to minimize the amount of taxes owed. A properly structured tax plan can help ensure your business’ future, and the transfer of your business from one generation to another or prepare it for sale.
- We will file your tax returns on time. This eliminates late filing fees, penalties and interest, so the funds can be used to achieve your life goals.
- Your returns will be filed correctly. This ensures qualifying tax deductions are applied and the chance of audits are reduced. Life becomes more relaxing and productive.
- Stay current with your taxes. Our first priority is ensuring you remain current with your taxes. If you have fallen behind, we can help you build a repayment plan and negotiate with CRA. Avoiding tax stress makes everyone’s life better.