TAXES
Preparing your income
tax return can be a daunting task that can leave you with
more questions than answers. Our return preparation process
is designed to ensure accuracy with every step. We give personalized
service on a one on one basis to individuals and owner operators
of businesses with a view of minimizing your taxes.
Today's business world requires
enterprising accountants with initiative that can help you
with the burden of filing corporate taxes and financial
planning options for your company whether for one small
business, corporation, or a group of companies. Part of
what we do is an educational process for our clients, where
we explain how the corporate return rules work, and assist
you in making choices that could reduce your tax liability.
Maximize your deductions
and minimize the hassle. Even if you think you can handle
your own tax returns, an experienced professional that has
extensive years worth of experience will know all of the
possible deductions you can take on your taxes, which can
mean much larger savings for yourself. In addition, we can
finish your returns in a small percentage of the time it
would take most individuals to sort through all the rules,
instructions, and schedules.
We offer personal attention,
and customized solutions. Gary Booth Chartered Accountants
have provided tax help to hundreds of satisfied clients.
Because we are a small, privately owned business, you can
be assured that you will get the kind of one-on-one personal
attention that you cannot get at a larger accounting firm.
Highlights:
- Preparation of Corporate
tax returns
- Research and development
of tax credits and refunds
- Guidance through complex
rules
- Minimizing taxes
- Compliance with tax laws
- Goods & Services
Taxation (GST) and Harmonized Sales (HST)
- Setting up accurate record
keeping systems
- Strategic Planning and
Risk Management
- Determining the value
of business interests for various purposes, e.g. tax planning,
partner/shareholder buyouts, mergers, acquisitions or
divestitures
- Investigative accounting
- Electronic Filing
To assist you in assembling
your records we have developed The
Corporate
Tax Checklist PDF file in order to file your corporate
tax returns. See our
Tax
Tips - Tax Info Checklist for more details.
Gary Booth Chartered Accountants
take pride in giving all our clients a great deal of "personal
attention". We value our clients and want to contribute
to their success. Your issues are important to us and we
have the skilled resources to address all your needs.
We work hard to build long
lasting relationships with all of our clients. Our GBCA
Team will establish a starting point for your tax basis.
We will then expand and utilize this information for effective
planning to minimize your taxes. Almost everything you do
in life, starting from marriage to buying your first home
have tax consequences. We will help you to determine your
financial situation and provide solutions.
Highlights:
- Preparation of personal
tax returns
- Sole proprietorships
and partnerships
- Home-based businesses
- Electronic filing
- Late filed returns or
amended returns
- Setting up accurate record
keeping systems
- Year-round consultations
- Guidance through complex
rules
- Preparation of U.S. personal
tax returns
- Minimizing taxes
- Goods & Services
Taxation (GST) and Harmonized Sales (HST)
- Estate planning and wealth
management strategies
- Retirement planning
- Personal financial planning
- Research and development
of tax credits and refunds
To assist you in assembling
your records we have developed the
Tax
Info Checklist PDF file in order to file your personal
tax returns. See our
Tax
Tips - Tax Info Checklist for more details.
- Tax Services: Business
and Rental Property Returns
The tax implications
of purchasing additional properties or of renting property
can sometimes be confusing. There are two principal taxes
that must be considered: capital gains tax and income tax.
Income tax is payable on the net income from a rental property.
The way in which property
is purchased, and what occurs at the time of purchase, can
mean a difference of $1000's of dollars each year in tax
refunds on the same property. It can pay for itself many
times over by having an accountant who is experienced in
dealing with rental properties.
In order to maximize
the return on a rental property it is often necessary
to restructure your affairs. We can give advice on
the structure that is right for you.
- Tax Services: U.S.
Returns
We prepare personal
US taxes for resident and nonresident individuals accurately
and efficiently.
If you are a
US citizen resident in Canada, you are subject to exactly
the same US filing requirements as if you still lived
there. This means you must file every year, reporting
your worldwide income. As a US citizen resident in
Canada, you must file two returns each year, declaring
your worldwide income on each: a Canadian return because
you live in Canada, and a US return because you are
a US citizen. However, there are several mechanisms
available to make sure you are not doubly taxed. We
can help find your best options when preparing your
US taxes.
- Tax Services:
Past Year Tax Returns
If you have not
filed Canadian income tax returns for a number of years
there is no reason to be worried about severe penalties.
For various reasons you may not have filed your federal
income tax return for this year or previous years because
you may not have know that you were required to file.
You also may not have filed because you owe additional
tax that you could not afford to pay in full or because
you think you might receive a refund and just have
not taken the time to complete the return. Regardless
of your reason for not filing, you should file your
tax return as soon as possible. Call us and we will
help you.
- Tax Services: Tax
Planning
Tax planning is a vital
component of your business’ success. It is also vital
to the long-term financial planning for your business, you
and your family. Your current tax situation can have a big
influence on your finances. Tax planning is a process looking
at various tax options to determine when, whether, and how
to conduct business and personal transactions so that taxes
are eliminated or reduced. As an individual tax payer, or
business owner your can have the option of completing a
taxable transaction by more than one method. There are many
tax planning strategies available, especially if you are
a small business owner. Some deal with your individual tax
situation, and some deal with your business. We can help
identify ways to save you more money now and in the future
with tax strategies you can implement right away.
Our continuing
professional development and constant monitoring of current
taxation laws ensures that our tax professionals are able
to offer you the most effective tax solutions for your unique
business or individual needs.
- Tax Services: Estate
Planning
As your personal circumstances
change, your financial plans, both current and future, should
be reviewed and updated. Estate planning is an integral
part of an overall tax minimization. We work with you to
develop succession strategies. Our one-on-one approach allows
us to build the strong personal relationship necessary to
gain a full understanding of your needs and expectations
and ensure that they are met.
We suggest you prepare
for the future through careful planning now. It might sound
easy, but there's a lot to know.
Gary Booth
Chartered Accountants
555 Burnhamthorpe Rd. - Suite 406, Toronto, ON, M9C 2Y3
Tel. No. 416-626-2727 - Fax No. 416-621-7136 - email:
admin@garybooth.com
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