Planning is essential to successfully minimize the income tax liability within the legal framework. Not only do our clients save penalty charges from failure of tax compliance but also from recommendations of tax saving strategies that maximize your after-tax income. Our team is constantly staying up to date on current tax laws and new tax regulations to best assist our clients.
Here are just a few of the tax saving strategies that we use:
- Income splitting amongst several family members or legal entities in order to get more of the income taxed at lower rates
- Income deferral strategies to have it subject to a lower tax rate in a later year.
- Utilizing certain investment choices (such as RRSPs) to defer tax liabilities to years of lower income.
Taking advantage of various tax-deductible items and tax credits to minimize your taxable income.