Tax Planning & Advice

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We provide the Best Tax Planning Services in the GTA, with our dedicated set of professional expertise, we analyze your financial situation from a tax perspective to align your financial goals in the best tax-efficient manner. Right from planning the income and expenditure schedule, selection of investments and retirement plans up to filing status and common deductions, we take care of all your tax planning needs.

When you are facing important decisions in your life,  you may have plenty of questions in your mind, for example:

1. You plan to start a business;

  • Should I incorporate or not?
  • What share structure should my company have?
  • Is it beneficial to form a partnership with my wife, children or siblings?

2. You plan to buy or sell a business;

  • Should I buy assets or shares?
  • Should I buy a business by myself or with my spouse?
  • Can I avoid or differ taxes on sale of business or on transfer to my children?

3. You want to change the structure of your business;

  • Is it a good time to incorporate my business?
  • Should I dissolve my corporation?

4. You want to buy a rental property;

  • Can I remortgage another residence and still claim interest expense?
  • Should it I be only on my name, or I should by it jointly with my spouse?
  • Will my rental cash flow allow me to pay the expenses?

5. You are getting married;

  • How will it affect my business?
  • Will my spouse acquire any rights to my business, properties or investments?

6. You are having a baby;

  • How can I save for my child’s college or university?
  • Are Registered Educational Saving Plans (RESP) the only option to save?

7. You plan to make a substantial investment;

  • What mix of investment (bond, shares, ETFs, mutual funds) should I have to minimize my taxes?
  • How can I split the income with my spouse and children to minimize my taxes?

8. You are getting separated or divorced;

  • How will it affect my financial affairs?
  • Can I sell my assets before obtaining divorce?

9. You are facing critical illness or death in the family;

  • How should I organize my financial and tax affairs in the case of critical illness and death in the family?
  • Is there anything else I can do after the death of the family member to minimize taxes (post-mortem planning)?

10. You plan to sell your rental property or investment.

  • When is the best time to sell?
  • What is my taxable capital gain or loss?
  • Can I differ my capital gain or there will be immediate tax implications?

 

Contact us at info@taxgta.com, we will answer all your questions and will help you organize your tax affairs.

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