Let the Tax Doctors help you with your tax planning strategies
Many Canadians don’t give much thought to how they can reduce their taxes. Most Canadians simply file theirtax returns at year end and this is it. However, it is the tax planning throughout the year that saves you money. If you wait until April, when you are doing your tax return, it is too late to do any tax planning because the year has past.
We consistently put tips on the website for tax planning ideas and tax saving tips to reduce your family’s overall tax. It is important to do the tax returns for your family together and not separately. Tax credits in some situations are calculated based on the family income and some credits can be transferred to other family members. Therefore, the family needs an overall tax plan. A few hours invested in reviewing your tax situation can pay off substantially and help you organize other areas of your financial affairs. Our parent company, GTA Wealth Management Inc. can help you with your wealth management plan. Individuals that meet certain qualifying criteria have the option to meet with a staff member of GTA Wealth Management Inc.
Tax planning is using the Income Tax Act to structure your affairs to reduce the tax you pay legally. However, tax evasion, on the other hand, is illegal. Tax evasion includes activities like not declaring income, making up false invoices, not submitting HST/GST remittances etc. Tax evasion is a criminal offence and is punishable by fines, interest and / or imprisonment.
Call the professionals at Tax Doctors Canada toll free at 1 855 TAX DOCS (855 829 3627) or use the contact form on the right of this page for your tax planning needs and reduce your tax bill.
Contact us using the web form below or call toll free at 1 855 TAX DOCS (855 829 3627) for a free initial phone consultation. We have locations in the Mississauga, Toronto and Markham to serve you.