Numeracy Accounting Solution’s estate and tax planning services in Mississauga are helping hundreds of companies optimize their tax filing and other requirements. But how can their services help to stabilize my business?
This question might have crossed your mind!
Are you a business owner?
A professional?
Or someone looking to protect your assets?
It is important to understand the complexity of tax and estate planning. It is helpful to get expert guidance when dealing with the complex tax and real estate planning challenges in Canada. In this blog, you will learn about how you can achieve financial security and peace of mind with our tax and estate planning services in Ontario.
OUR TAX PLANNING SERVICE:
There’s a lot more to tax planning than just filing your annual tax returns. It is to utilize strategies that help you minimize the amount of taxes you pay. Additionally, it is to maximize your income and savings as well. Each year, approximately 3.5% to 4.8% of individuals do not submit their tax returns to the CRA in time to be included in conventional datasets. This delayed tax filing leads to severe consequences for both the economy and the individual.
To avoid such consequences, here’s how we help you with our tax filing service:
- Personalized tax strategies:
At Numeracy Accounting Solutions, our team of professional accountants work closely with you to understand your financial circumstances. It includes thoroughly understanding your requirements. Whether your goal is to maximize tax credits, deductions, or income-splitting potential, we make sure that you take advantage of every eligible opportunity provided under Canadian laws.
- Income splitting:
In Canada, income splitting enables couples and families to reduce their overall tax burden. It is done by splitting income among family members in lower tax bands. This method is especially useful for those with considerable wage differences between spouses or dependents. Our team guides you through the rules of income splitting and guarantees that you meet all legal requirements.
- Tax-efficient investment planning:
Investing your money somewhere rewarding can help you greatly ensure a secure future. We suggest tax-efficient alternatives with our tax planning service. Such as tax-free savings accounts (TFSAs) or registered retirement savings plans (RRSPs). Our goal is to help you develop your financial future without losing a large amount of your investment returns to taxes.
- Capital gains and losses:
Effectively managing capital gains and losses is essential for tax planning. Our skilled team will help you time your investments to maximize your capital gains and recommend strategies for offsetting profits with losses when possible.
OUR ESTATE PLANNING SERVICES:
Our estate planning service is an opportunity for you to take a step ahead towards protecting your financial assets. Estate planning basically involves critical decisions in three aspects:
- Distribution of your assets.
- Care of your dependants.
- Your legacy.
Inefficient estate planning can lead you to face unnecessary taxes, probate fees, and delays, leaving your loved ones with legal and financial burdens. We do not want you to experience this, so read further to know what our estate planning services have for you.
- Creating a comprehensive will:
A will is the foundation of every estate plan. It specifies how your assets will be allocated and who will care for your dependents following your death. Our staff works with you to develop a clear, legally binding will that matches your objectives. We assist you with naming executors, guardians, and beneficiaries, ensuring that your estate is managed in an unambiguous manner.
- Trusts and power of attorney:
A trust is a powerful estate planning tool that allows you to transfer assets while controlling how and when they are dispersed. We can help you set up trusts that will secure your assets and care for your loved ones in a tax-efficient manner. We can help you set up powers of attorney for financial and healthcare choices so that someone you trust can act on your behalf if you, unfortunately, become unable to work in any way.
- Probate and executer services:
Taxes and estate planning in Canada can be tricky. If you don’t handle things right, it could cost you a lot and cause delays. To avoid such a situation, our team assists with everything from submitting paperwork to distributing assets by your will. We also offer executor services if necessary, giving you peace of mind knowing that your estate will be handled professionally.
KEY TAKEAWAYS:
Our tax and estate planning attorney near Mississauga are designed to help you establish a stable and secure financial foundation.
By using our tax and estate planning services, you can:
- Take a significant step toward achieving your financial goals.
- Ensure that your loved ones are taken care of.
Let us guide you through the process with confidence and care, allowing you to focus on what truly matters—living your life to the fullest. Book your first free consultation today!
For more insights on choosing the right financial services, explore our guides on How to Choose a Personal Tax Accountant for Your Needs and How to Choose the Right Business Consultant Firm in Mississauga for Your Needs.