Braich Professional Corporation
Braich Professional Corporation has the unique skill and know-how to manage your taxation Canada issues.
From income tax preparation to tax planning. our firm provides you with expert tax services. In other words, we can help you reduce your overall taxes. In addition, we can help you increase your bottom line.
Of course under the current laws, tax avoidance is perfectly legal. However, tax evasion is not. In short, what sets tax evasion apart from tax avoidance is finding by the CRA that there was some fake intent. Always, this intent is on the part of the business owner. Hence, CRA focuses on the following areas for possible fraud:
- Not reporting income. For example, a shareholder’s does not report dividends. Or, a store owner’s failure to report a portion of the daily receipts.
- Claim for improper deductions. For instance, claiming more than actual travel expenses. Or, a taxpayer’s claim of a large deduction for charitable gifts.
- Accounting irregularities. Specifically, business’s failure to keep good records. Or, differences between tax returns and financial statements.
- Improper allocation of income to a related taxpayer. For example, dividends paid to the shareholder’s children.
Preparing your own income tax return can be a task that leaves you with more questions than answers, Whether, we like it or not, today’s tax laws are complicated. Thus, filing a relatively simple return can be confusing. Always, it’s just too easy to overlook deductions and credits to which you are entitled. Also, certain deduction errors can put you at risk of an audit.
We can help you get maximum tax refund quickly. And, we can do this without raising your liability for an audit. Call Us today to find out more about taxation Canada and how you can save time and money.
Tax Preparation for individuals
Tax service Canada
Because today’s tax laws are complex, most people will benefit from professional tax return preparation. Always, it is easy to overlook deductions and credits to which you are entitled. In fact, this will happen if you prepare only one return a year. After all, our business is to know what to look for when your tax return is prepared. Also, to answer your questions during the rest of the year.
Whether you are a wage earner or an investor, you want to maximize your tax refund. In other words, there is nothing to be gained by paying more tax than the law demands. To that end, we invest in continuing education. In addition, we invest in tax research software. Of course, we also invest in wide-ranging tax return preparation software. For these reasons, we can accurately and efficiently prepare tax returns for various types of entities.
Advice and tax planning tax service Canada
- Do you want to reduce taxes on your investments so you can grow your wealth faster? Also, do you want to reduce taxes on your retirement distributions? So that you can retire in style?
- Or, do you have a property which may be sold or gifted? Perhaps, to the next generation? If so, do you want to reduce taxes on your estate so your family keeps more of what you’ve made? Or, do you want to preserve assets by keeping the CRA out of your pockets?
- Or, maybe you want to maximize your take-home pay? In fact, why give the CRA an interest-free loan for up to 16 months?
braichcpa.ca can advise you on all these issues. In fact, we have many years’ experience dealing with complex tax affairs. As such, we can identify the best approach for you. Of course, we are friendly and approachable. And, we will give you practical and affordable advice. Call us for a free initial discussion about taxation Canada on (416) 912 8715 or email us email@example.com
Our firm has years of expertise and skill. As such, we can help you with tax needs of your business. In addition, we can help with tax compliance.
Poor Taxation Canada planning can result in major financial setbacks. In the same way, improper handling of tax issues can also lead to poor results. Accordingly, our team analyzes your situation to minimize taxes. Also, our team can help and improve your overall tax position.
We can design Taxation Canada strategies to reduce taxes for individuals. In addition, we have strategies to reduce taxes for business owners and Investors.
Most importantly, if you are close to retirement, we can help. We can prepare financial forecasts for your golden years. Also, we can provide objective advice on financial matters.
Our Tax services include:
- Individual Income tax returns (T1)
- Corporate Income Tax returns (T2)
- US Tax
- Goods and services tax (GST)
- Harmonized Sales Tax (HST)
- Payroll related matters
- Succession planning
- Tax Planning for individuals and businesses
- Purchase or sale of business
- Audit assessments
- Objections and appeals
- Voluntary disclosure program
- CRA representation
Tax returns, tax advice for businesses
Many businesses pay too much tax. Perhaps, it is because they are not familiar with tax reduction. The goal of income tax planning is to minimize taxes. And, to do this without sacrificing other personal and financial goals.
Two basic ways to reduce income tax are avoiding or deferring Income tax.
Avoiding tax includes generating tax-free income. Or, creating tax deductions and credits. In addition, shifting taxable income to other family members.
Deferring tax is postponing your taxes to sometime in the future. Because later you may be in a lower tax bracket. Also, deferring taxes gives you money currently so that you can invest it to make more money.
At Braich Professional Corporation, we will first find out about your business. As, we believe that you are the expert in your business – not us. Certainly, once we understand your business, we can advise on all areas of tax, including:
- Reducing the amount of taxable income
- Lowering your tax rate
- Controlling the time when the tax must be paid
- Claiming any available tax credits
- Avoiding the most common tax planning mistakes
- Planning for succession. Specifically, bringing the next generation into the business.
We can also deal with:
- CRA Reviews and Audits. In fact, we will represent you in front of CRA.
- Payroll / WSIB Audits – and provide advice on payroll planning issues.
- Properly account for the transaction between the business and the shareholders. So that, any errors are corrected before tax filings.
- Using the rules of Ontario tax benefits.
- Using trusts for tax planning.
Will planning and personal taxation advice for the business owners
As a specialist taxation firm, we provide:
- Tax returns, advice and tax planning for individuals.
- Tax returns, advice and tax planning for businesses.
- Property taxation advice – including tax returns for owner and advice on property transactions.
Many small business owners ignore tax planning. Always, they don’t even think about their taxes until they meet with their accountant. But, tax planning is an ongoing process, and good tax advice is a very valuable. You should review your income and expenses monthly. Of course, you should meet with your tax advisor quarterly. Because analyzing your tax liability should be an on-going process. During these meetings, your advisor should discuss the tax saving strategies available.
At Braich Professional Corporation we will:
- Listen to you. And, understand your needs and aspirations.
- Develop a close working relationship with you. Specifically, responding quickly and in simple language
- Provide relevant, cost-effective, practical advice for you and your business.
- Let you know exactly what we will do for you. And, how much these services will cost.
- Guide you through any suggested action.
- Stay in contact throughout the year to support you.