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Tax saving plans in Mississauga

We are aware of hundreds of plans. Writing their details may make the website too voluminous. For convenience of readers we write only about the objectives of the plans and our procedures to achieve these. First, we state some taxes that we often save for clients.

  • Business income taxes
  • Capital gains taxes
  • Corporate taxes
  • Employment income taxes
  • HST

H&T Tax planning objectives:

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

  • We give special attention to large tax saving plans.
  • We support each large tax saving plan with literature research.
  • We use only credible research material, e.g. the Income Tax Act.
  • Many times our research goes beyond the CRA literature.

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

  • Customers mostly ask us to determine if they can use certain specific plans. We do thorough analysis and use those plans if law permits.
  • We often go beyond customer requests for certain plans.
  • For businesses we do thorough bookkeeping, which increases claims and tax savings.

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

  • Our error minimizing techniques reduce audit triggering naturally
  • Most tax preparers just claim whatever a client suggests. If it works, it is considered tax planning. If it doesn’t, they say they tried, at least. If it was an illegal claim not caught by CRA, it keeps the client at high audit risk for years. We don’t claim what is likely to put the tax payer in high risk, sooner or later.

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

  • We include literature search in audit trails.
  • We archive audit trails to protect the tax payer if audited.
  • We ensure to have good substantiation for unusual claims.
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