Suite 806, 7015 Macleod Trail SW, Calgary

Tax Services

Our tax services are tailored for professionals, tradespeople, and small business. We offer a variety of tax services, including tax return preparation and related government filings, tax analysis and advisory, special tax saving services,
tax services for clients who are multiple years behind on their tax filings, and traditional tax planning.

Tax Analysis and Advisory

This is the cornerstone service of our practice, which truly adds value for you and your business. Here is where we use our combined experience of over 50 years to analyse your specific situation and ensure that:

  • All the expenses that you are entitled to claim are being claimed
  • Tax is only being paid on taxable income, and that tax free receipts are segregated and reported separately
  • Any tax tool or service that may help you achieve a better result has been considered, such as PHSP’s, SRED, corporate reorganizations, etc.
  • Tax is being minimized
  • Reporting requirements are being met on a timely basis
  • An analysis of the various ways to pay yourself from your company, such as dividends and salary, has been discussed with the pro’s and con’s of each method fully explained
  • The timing of when to claim income from your company has been carefully considered for optimal utilization of your lower tax brackets, for preservation of sufficient cash flow and for any other relevant factor
  • Any issues that CRA may have with any revenues and expenses claimed are brought to your attention and discussed with you, and alternatives are presented and compared

Tax Services for clients who are a few years behind on their tax filings

Many taxpayers, either due to their own neglect or due to factors beyond their control find themselves several years behind on filing their taxes. It can be a daunting task to try to catch up with both the filing requirements as well as the tax, penalties and interest that needs to be paid. We have plenty of experience to help you:

  • Break things down to a step by step approach, so the task is not so daunting
  • Apply for fairness to try to obtain relief from interest and penalties
  • Work with CRA officials to establish a reasonable filing schedule
  • Work with CRA officials to establish a reasonable payment schedule
  • Better organize your time and finances
  • Get back on track with your current filings and taxes

Traditional Tax Planning

Our services also incorporate traditional tax planning including:

  • Corporate reorganizations
  • Estate freezes
  • Estate planning
  • Asset rollovers
  • Individual pension plans
  • And more

For these services we call on our tax lawyer who we have worked with for over 15 years to ensure all legal documents and tax planning meet legal requirements and tax objectives.

Tax Return preparation and related government filings

As a fundamental service for you, our client, we prepare or assist you in preparing the following:

  • Corporate tax returns
  • GST returns
  • T3’s, T4’s, T5’s T5018’s, etc.
  • Personal tax returns
  • Any other required CRA or Alberta Finance required filings
  • WCB returns
  • Many other government filings
  • Assistance with any questions from CRA
  • Assistance with any CRA audits

Special Tax Saving Services

In addition to our Analysis and Advisory services, we have cultivated some special skills and tools to better serve our clientele, and to provide them with substantial tax savings. A few examples of these services include:

PHSP – Private Health Services Plan
PHSP’s allow for the medical expenses of employees, including the owners of the corporation, to effectively be paid for by their employer on a tax free basis. Many in the marketplace sell ‘cost plus’ PHSP’s, or PHSP’s with premiums to a third party that include a substantial profit margin. However, we have developed a plan for our corporate clients to run internally, free of the service costs or profit margins of external plans. We have assisted in setting up internal PHSP’s for most of our clients.

SRED – Scientific Research and Experimental Development tax credits
This is a unique area of the corporate tax return that we have been preparing for over 15 years as well. SRED tax credits are available for clients creating a new proprietary process or product with new technological advancements or attempts thereof. We have assisted a few of our IT clients & Manufacturing clients in applying for these, and we have been successful on approximately 95% of the total amounts claimed.

Tax Shelter Review
Many clients have come to us with tax shelter schemes or other ‘tax preferred’ investment scheme’s that we have put to a critical review using our tax experience. Some we have debunked as contrary to tax law, some we have analysed to be legal, but either not a good investment or not beneficial tax-wise. Some have been fine from a tax perspective so long as the client was happy with the underlying investment.