Tax Planning Downtown Toronto

Toronto Tax Consulting 401 Bay Street Suite 1600. Toronto ON M5H 2Y4. Please call 416-628-7824 ext. 2 and speak to a tax advisor about your tax planning needs.

Downtown Toronto

Toronto Tax Consulting (Head Office)
401 Bay Street Suite 1600
Toronto ON M5H 2Y4
Tel: 416-628-7824 Ext.2

Etobicoke

Etobicoke Tax Consulting
3250 Bloor St W Suite 600 East Tower
Etobicoke ON M8X 2X9
Tel: 1-800-717-4162 Ext.2

North York

North York Tax Consulting
5700 Yonge Street Suite 200 North Tower
Toronto ON M2M 4GS
Tel: 416-628-7824

Mississauga

Mississauga Tax Consulting
4 Robert Speck Parkway Suite 1500
Mississauga ON L4Z 1S1
Tel: 1-888-905-7577

Markham

Markham Tax Consulting
15 Allstate Parkway Suite 600
Markham ON L3R 5B4
Tel: 416-628-7824

New York

Toronto Tax Consulting
415 Madison Ave, New York
NY 10017, United States
Tel: 1-800-717-4162

Chicago

Toronto Tax Consulting
30 S Wacker Dr #2200, Chicago
IL 60606, United States
Tel: 1-800-717-4162

As professional tax advisors, we are held to a higher standard but if it limits us in our creativity with tax strategies, it is 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 the 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 you are looking at straightforward 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 right fit for you. We work for our clients, not CRA.

Does Tax Planning really work?

It certainly has a positive outcome under certain circumstances. Clients come in with the hope that taxes will be reduced greatly but not in all cases.

Tax Planning only makes sense, if a cost-benefit outcome exists. There is so much information published as to why tax planning is beneficial but little on the process, costs involved, and who the service would benefit the most.

If you are not receiving at least the annual cost savings going forward of fees paid for the tax planning services, you may walk away with buyer’s remorse. If you earn employment income (T4) or have small amounts of investment income (T3, T5), you are best off dealing with a personal financial planner at a financial institution or investment advisor using tax savings strategies such as RRSP and TFSA. Once you max out these options, it may make sense to see a specialized tax advisor for tax planning. There is a minimum cost to the process of tax planning.

Tax planning is very information and labor-intensive process. Without information, we cannot really do any analysis. It takes a lot of work on part of the client as well to supply and communicate this information. Tax planning and strategies may have to be confirmed and accepted by tax authorities in advance.

We use many methods and strategies to reach tax planning objectives. Every one of our tax plans is tailored to client needs but we have to first determine whether your situation would be ideal to even think about the process. It is best to give one of our tax advisors a call and let them know your situation as to whether the process would benefit you or not.

Areas of practice for tax planning engagements:

Personal Tax Planning – Tax Planning Downtown Toronto:

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 – Tax Planning Downtown Toronto:

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 Downtown Toronto:

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 – Tax Planning Downtown Toronto:

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 – Tax Planning Downtown Toronto:

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) – Tax Planning Downtown Toronto:

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”