The route to a secure financial future can be difficult to navigate. At HALPERN Chartered Professional Accounting Firm we understand this.
We work with clients on an individual basis, taking the time to identify the best solutions for a profitable financial outcome. For over 30 years we’ve been helping businesses and individuals save money and prevent costly mistakes. Our full-service CPA firm combines the technical knowledge of Chartered Professional Accountant with entrepreneurial mindset of Strategic Business Advisor.
Business owners and individuals complain but often do nothing to improve their financial situation. Face this New Year with confidence using our customized strategy and knowing that we are here to help you weather all changes and to prosper. The statement “Cash is King” is more relevant than ever before and our proven techniques and experience will positively impact your finances.
TAX TIP Should You Incorporate? There are many tax considerations of incorporation including the familiar benefits of tax deferral and also income splitting. There are also non-tax considerations including (a) increased complexities of a separate legal entity, (b) more stringent record-keeping requirements, (c) the need for Officers and Directors, and (d) the beneficial creditor protection for shareholders, amongst others. Contact us now and we will help you determine whether to incorporate your new or existing business.
Cash-In On Our Professional Services
We can help you find and save money in your business or household as follows:
- Contact us now to perform a Diagnostic Review to grow your cash flow.
- Cash Flow Management can make or break your business. We will show you how to find and save money.
- Effective Tax Planning – every dollar counts. Can you afford to overpay your taxes? Contact us now for immediate assistance to minimize your tax bill.
- Timely and Accurate Reports such as financial statements, cash flow forecasts and budgets are vital for every business or household. Contact us now to get started.
- Better Bookkeeping – with money tight, all record keeping must improve dramatically. We will assist you by cleaning up messy books and helping you identify unnecessary or overpriced expenditures – saving you substantial money.
- Save money by creating a Budget for both your business and household income and expenses. Contact us now to get started.
- Eliminate debt quickly. Re-finance and consolidate your debts. We will help you restructure your debts in conjunction with your creditors
TAX TIP Effective for all sales on or after January 1, 2016 of property eligible for the principal residence exemption, CRA Canada Revenue Agency now requires you to report the sale on Capital Gains Schedule 3 of your 2016 personal income tax return. The late filing penalty is $100 per month to a maximum $8,000. This new reporting is required even where there is only a deemed disposition (such as a “change of use”) and not an actual sale. Historically, CRA waived this requirement for any tax filing or disclosure where the entire gain on sale was exempt due to the principal residence exemption. Contact us now for professional assistance to implement this important new CRA reporting requirement.
Filing Deadline – T4/T4A/T5 Tax Slips
To avoid costly penalties, all Employers and Payors must issue T4/T4A/T5 tax slips by the last day of February, 2017. If you require our T4/T4A/T5 reporting services, contact us now but not later than Monday January 16, 2017.
We Will Help You
Now more than ever you need our strategic tax consulting, comprehensive business advisory and financial planning services. We also use the most advanced state-of-the-art technology to minimize your income tax liabilities.
To arrange your personal and confidential FinancialCHECKUP™, call now 905-709-HELP or click here.