Tax preparation and Planning
Taxes are levied against personal and business earnings throughout the fiscal year. The chartered professional accountants at Miranda Professional Corporation have the extensive background in tax preparation that you need to feel at ease with your financial wellness.
Tax preparation can be confusing whether you are a salaried employee, a contractor, or a business owner. We understand that you want to preserve as much of your income as possible, and we work with you to achieve your goals through meticulous planning and clear communication that will enable you to recognize which items you need for your annual tax appointment.
Tax filing need not be a difficult or stressful event. We can assist you throughout the year so you feel well prepared to report income and losses as needed. Some of the documentation needed for successful tax planning include:
- T3 statements relating to ETFs, REITS, and mutual funds
- T4 statements demonstrating employment income, RRIF, RRSP and other types of income
- T5 investment income statement
- RRSP contributions
- Employment expense statements or receipts
- Tuition statements
- Medical and healthcare receipts
- Charitable and political donation receipts
- Adoption and child-related receipts
Every tax situation is unique. This is why professional service from our experienced tax and accounting firm is beneficial to your peace of mind. Our scope of knowledge affords us the insight to identify your needs and to explain them to you in a way that empowers you financially. Whether your tax situation seems straightforward or you require assistance with final tax returns for a deceased family member, we can help. We are skilled with activities including clearance certificates prior to distributions and taxpayer estate filings. Our chartered professional accountants are adept at working with beneficiaries providing third-party perspective and distribution statements, and much more.
The Canada Revenue Agency (CRA), by law, allows adjustments to taxes for a ten-year period. Most tax professionals review only the current year and the year prior. The professional tax review conducted by your MPC accountant looks further into your tax past – a full ten years! Mindful of the details, we seek to identify any opportunity that exists within the Tax Act to benefit your financial well-being.
Don’t wait until it is time to file to begin planning. Contact our office today for a consultation that can change your life for the better.
Miranda Professional Corporation has been working with businesses for more than twenty-five years. From start-ups to established companies, we have the necessary experience to identify strategies through which taxes are minimized and credits maximized. Ultimately, the review and planning that we perform revolves around protecting your assets.
Tax planning is not an annual event; it is a process that requires attention throughout the year. Businesses that choose MPC benefit from:
- Frequent review of previous assessment notices and tax returns
- Full assessment of reporting requirements and record-keeping practices
- Strategic planning based on your unique business situation and current tax legislation