Tax saving plans in Brampton

Tax saving plans in Brampton

We are aware of hundreds of tax saving plans. The website might become too lengthy if their information is written down. For convenience of readers we write only about the objectives of the plans and the procedures to achieve these objectives. First, we state some taxes that we often save for clients:

• Partnership taxes
• Personal taxes
• Proprietorship taxes
• Trust taxes
• HST

Tax planning objectives by H&T accountant:

Minimize errors in tax planning:
To achieve this we use many techniques including the following:

• We often take CRA staff opinions on issues but not necessary follow those.
• We do thorough analysis of each tax saving situation.
• We discuss all situation analysis with clients.
• We only claim deductions that are well supported by law and substantiation.

Maximize savings in tax planning:
To achieve this we use many procedures including the following:

• We consider numerous plans for each client.
• We do not restrict ourselves to using only the plans requested by clients.
• For businesses we do thorough annual adjustments; which increases claims and tax savings.

Minimize audit triggers in tax planning:
Here are some of the techniques we use:

• We always consider a client’s history of claims.
• Historically inconsistent claims trigger audits.
• We often find what made it inconsistent and fix the problem.

Maximize audit resilience in tax planning:
Here are some of the procedures we use:

• We ensure that each claim has some substantiation.
• We ensure that bigger claims have stronger substantiation.
• We set up audit trails intentionally.