{"id":281,"date":"2018-11-05T16:00:34","date_gmt":"2018-11-05T16:00:34","guid":{"rendered":"https:\/\/www.torontotaxconsulting.com\/home\/?page_id=281"},"modified":"2024-07-30T05:18:18","modified_gmt":"2024-07-30T05:18:18","slug":"tax-planning-downtown-toronto","status":"publish","type":"page","link":"https:\/\/torontotaxconsulting.com\/home\/tax-planning-downtown-toronto\/","title":{"rendered":"Tax Planning Downtown Toronto"},"content":{"rendered":"\n

Tax Planning Downtown Toronto<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Downtown Toronto<\/p>\n\n\n\n

Toronto Tax Consulting (Head Office)<\/a>
401 Bay Street Suite 1600<\/a>
Toronto ON M5H 2Y4
Tel: 416-628-7824 Ext.2<\/p>\n\n\n\n

<\/div>\n\n\n\n

Etobicoke <\/p>\n\n\n\n

Etobicoke Tax Consulting<\/a>
<\/a>3250 Bloor St W Suite 600 East Tower
Etobicoke ON M8X 2X9
Tel: 1-800-717-4162 Ext.2<\/p>\n\n\n\n

<\/div>\n\n\n\n

North York<\/p>\n\n\n\n

North York Tax Consulting<\/a>
5700 Yonge Street Suite 200 North Tower
Toronto ON M2M 4GS
Tel: 416-628-7824<\/p>\n\n\n\n

<\/div>\n\n\n\n

Mississauga<\/p>\n\n\n\n

Mississauga Tax Consulting<\/a>
4 Robert Speck Parkway Suite 1500
Mississauga ON L4Z 1S1
Tel: 1-888-905-7577<\/p>\n\n\n\n

<\/div>\n\n\n\n

Markham<\/p>\n\n\n\n

Markham Tax Consulting<\/a>
15 Allstate Parkway Suite 600
Markham ON L3R 5B4
Tel: 416-628-7824<\/p>\n\n\n\n

<\/div>\n\n\n\n

New York<\/p>\n\n\n\n

Toronto Tax Consulting
415 Madison Ave, New York
NY 10017, United States
Tel: 1-800-717-4162<\/p>\n\n\n\n

<\/div>\n\n\n\n

Chicago<\/p>\n\n\n\n

Toronto Tax Consulting
30 S Wacker Dr #2200, Chicago
IL 60606, United States
Tel: 1-800-717-4162<\/p>\n\n\n\n

<\/div>\n\n\n\n
\"Tax
Tax Planning Downtown Toronto<\/figcaption><\/figure>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

We strive for unique tax strategies that in the long run will save money year over year and help build your net wealth.<\/p>\n\n\n\n

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.<\/p>\n\n\n

<\/div>\n\n\n\n

Does Tax Planning really work?<\/strong><\/h3>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Areas of practice for tax planning engagements:<\/strong><\/h2>\n\n\n\n
<\/div>\n\n\n\n

Personal Tax Planning – Tax Planning Downtown Toronto:<\/strong><\/h3>\n\n\n\n
  • Income Splitting<\/li>
  • Borrowing to Invest<\/li>
  • Education Trusts<\/li>
  • Tax Saving Strategies<\/li>
  • Investments<\/li>
  • Deductions and Credits<\/li>
  • RESP’s, RDSP’s and TFSA’s<\/li><\/ul>\n\n\n\n
    <\/div>\n\n\n\n

    Personal Financial<\/strong> Planning:<\/strong><\/h3>\n\n\n\n
    • Cash Management and Budgeting<\/li>
    • Investment Planning and Asset Allocation<\/li>
    • Risk Management and Insurance<\/li>
    • Tax Planning<\/li>
    • Retirement Planning<\/li>
    • Estate Planning<\/li><\/ul>\n\n\n\n
      <\/div>\n\n\n\n

      Retirement Planning – Tax Planning Downtown Toronto:<\/strong><\/h3>\n\n\n\n
      • Cash Flow Projections<\/li>
      • RRSP Conversion Decisions<\/li>
      • Pension Plan Decisions<\/li><\/ul>\n\n\n\n
        <\/div>\n\n\n\n

        Inbound Tax Planning:<\/strong><\/h3>\n\n\n\n
        • Tax planning for Immigration to Canada<\/li>
        • Tax planning for Returning Canadian Expatriates<\/li>
        • Investment in Canadian Businesses and Real Estate by Nonresidents<\/li>
        • Nonresidents Carrying on Business in Canada<\/li>
        • Canadian Subsidiaries of Foreign Corporations<\/li>
        • Tax Treaty Issues<\/li><\/ul>\n\n\n\n
          <\/div>\n\n\n\n

          Outbound Tax Planning – Tax Planning Downtown Toronto:<\/strong><\/h3>\n\n\n\n
          • Tax Planning for Emigration From Canada<\/li>
          • Post\u00ad migration Expatriate Issues<\/li>
          • Investment by Canadians in Foreign Businesses and Corporations<\/li>
          • Investments by Canadians in Foreign Real Estate<\/li><\/ul>\n\n\n\n
            <\/div>\n\n\n\n

            Corporate Tax Planning<\/strong>:<\/h3>\n\n\n\n
            • Corporate Reorganizations<\/li>
            • Incorporation of Unincorporated Businesses<\/li>
            • Minimizing Tax on the Sale of Shares of Corporations by Using the “capital Gains Exemption”<\/li>
            • Minimizing Tax on the Sale of Shares of Corporations by using “Safe Income Strips”<\/li>
            • Utilizing Corporate Tax Losses<\/li>
            • Partnership Formation, Reorganization, and Dissolution<\/li>
            • Optimizing Dividend \/ Salary Policy<\/li>
            • Maximizing the use of the “Small Business Deduction”<\/li>
            • Rolling over shares to Holding Companies<\/li>
            • Creditor Proofing Reorganizations<\/li>
            • Structuring Shareholder Buy \/ Sell Agreements<\/li>
            • Advising Foreign Corporations Operating in Canada<\/li>
            • Advising Canadian Corporations Operating Outside of Canada<\/li><\/ul>\n\n\n\n
              <\/div>\n\n\n\n

              Estate Planning &<\/strong> Taxes – Tax Planning Downtown Toronto:<\/strong><\/h3>\n\n\n\n
              • Estate “Freezing” of Private Corporations so that tax on death is minimized<\/li>
              • Reviewing and Advising on wills in order to avoid tax pitfalls and minimize taxes payable on death<\/li>
              • Advising in connection with the formation and terms of family trusts created during the lifetimes of individuals<\/li>
              • Planning aimed at minimizing exposure to probate fees on death<\/li>
              • Planning aimed at minimizing exposure to U.S. estate taxes<\/li>
              • Postmortem Planning Aimed at Avoiding Double Taxation in Connection with Shares of Private Corporations Owned on Death<\/li>
              • Planning Issues Regarding Corporate Owned Life Insurance<\/li>
              • Structuring Shareholder Buy \/ Sell Agreements<\/li><\/ul>\n\n\n\n
                <\/div>\n\n\n\n

                Real Estate & Tax Planning:<\/strong><\/h3>\n\n\n\n
                • Ownership structures Regarding Acquisition of Real Estate<\/li>
                • Minimizing or Deferring Tax on Real Estate Gains<\/li>
                • Maximizing Utilization of Tax Losses<\/li>
                • Structuring Joint Ventures or Syndication<\/li>
                • Capital Gain Versus Income Determinations<\/li>
                • Principal Residence Issues<\/li>
                • Nonresident Investment in Canadian Real Estate<\/li>
                • Canadian Investment in Foreign Real Estate<\/li>
                • Creditor Proofing Real Estate Holdings<\/li><\/ul>\n\n\n\n
                  <\/div>\n\n\n\n

                  US & Canada Cross-\u00adBorder Tax Preparation, Planning and Compliance:<\/strong><\/h3>\n\n\n\n
                  • General US and Canada Cross\u00adborder Tax Planning<\/li>
                  • Relocation and Immigration Planning to Canada from the US or Vice Versa<\/li>
                  • Income Tax and Stock Options planning for US Citizens Residing in Canada<\/li>
                  • Client Representation with both the US Internal Revenue Service (IRS) & Canada Revenue Agency (CRA)<\/li>
                  • Assistance in Meeting Foreign Asset Reporting and Disclosure Requirements<\/li><\/ul>\n\n\n\n
                    <\/div>\n\n\n\n

                    Services for US Citizens and Green Card Holders – Tax Planning Downtown Toronto:<\/strong><\/h3>\n\n\n\n
                    • Assistance in Citizenship Renunciation, Expatriation Consulting and Compliance<\/li>
                    • US Tax Planning for Ownership or Beneficial Interests of Non \u00adUS Corporations, Trust and Partnerships<\/li>
                    • US and Canada Cross-\u00adborder Estate Planning<\/li>
                    • US Tax Planning in the Event of Marital Separation<\/li>
                    • Certification Applications for the Disposition of Taxable Canadian Property by non-\u00adCanadian Residents<\/li>
                    • US Tax Planning for Ownership of Canadian Business Interests<\/li><\/ul>\n\n\n\n
                      <\/div>\n\n\n\n

                      US Tax Filing under the New Streamlined Filing Compliance Procedures:<\/strong><\/h3>\n\n\n\n
                      • Introduced on September 1, 2012<\/li>
                      • Catch Up Tax Returns Package for Delinquent US Citizens and Green Card Holders<\/li>
                      • Eligible for Non-resident US Taxpayers with Low Compliance Risk<\/li>
                      • IRS will not Assert Penalties<\/li><\/ul>\n\n\n\n
                        <\/div>\n\n\n\n

                        US Tax Filing under the Offshore Voluntary Disclosure Initiative (OVDI) – Tax Planning Downtown Toronto:<\/strong><\/h3>\n\n\n\n
                        • Catch Up Tax Returns Package for Delinquent US Citizens and Green Card Holders<\/li>
                        • Liaise Between the Internal Revenue Service and the Taxpayers on the Submission Under the OVDI<\/li><\/ul>\n\n\n\n

                          Services for Canadian Citizens, Residents and Other Non \u00adUS Residents:<\/strong><\/h3>\n\n\n\n
                          • US Tax Advice on the Various Ownership Structures in US Real Estate Investment<\/li>
                          • US Tax Planning for \u201cSnowbirds\u201d or Future \u201cSnowbirds\u201d<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"

                            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 1600Toronto ON M5H 2Y4Tel: 416-628-7824 Ext.2 Etobicoke Etobicoke Tax Consulting3250 Bloor St W […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"templates\/page-full.php","meta":{"nf_dc_page":"","footnotes":""},"categories":[],"tags":[59,53,15,64,61,56,60,55,62,63,54,57,58],"class_list":["post-281","page","type-page","status-publish","hentry","tag-tax-accountant-downtown-toronto","tag-tax-accountant-toronto","tag-tax-advice-and-planning-in-downtown-toronto","tag-tax-advice-and-planning-toronto","tag-tax-advice-downtown-toronto","tag-tax-advice-toronto","tag-tax-advisor-downtown-toronto","tag-tax-advisor-toronto","tag-tax-planning-downtown-toronto","tag-tax-planning-toronto","tag-tax-services-toronto","tag-toronto-tax-accountant","tag-toronto-tax-advice"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages\/281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/comments?post=281"}],"version-history":[{"count":14,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages\/281\/revisions"}],"predecessor-version":[{"id":846,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/pages\/281\/revisions\/846"}],"wp:attachment":[{"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/media?parent=281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/categories?post=281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/torontotaxconsulting.com\/home\/wp-json\/wp\/v2\/tags?post=281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}