Our unique offering:
Real Wealth
Management
Accounting
Services
Personal
Tax
Corporate
Tax
Tax Recovery
Audit
We cut through all the information and deal with what matters most to Canadian taxpayers:
“It’s not what you earn that matters…it’s how much you keep!”
Did you know?
Income Tax is the single largest cause of wealth erosion in Canada today.
The average Canadian family spends approximately 43% of their income on taxes of one sort or another.
The Income Tax Act consists of 4,000 pages and another 100,000 pages to explain it.
It just makes sense. If you are serious about reducing your income tax burden and building wealth, get in touch today.
Real Wealth Management™
We provide Real Wealth Management™ services that considers your entire financial situation, including business and personal taxes to ensure that your wealth retention and gains are maximized.
The Problem
“Where can I find a highly trained Professional who can understand and co-ordinate our family’s financial plan for growing and retaining our wealth … with all our financial service providers?”
Talk to one of our Real Wealth Managers™ (RWM). Our staff has received the education, knowledge and training to help you develop and implement a complete holistic financial plan that not only deals with today, but also your future needs such as retirement and estate planning. This continues into the efficient transition of multi-generational wealth in a controlled and tax efficient manner. This can be completed using your current team or ours, but all the financial intermediaries are working with the same plan.
The solution
Diverse Financial Specialists That Understand Your Tax & Wealth Needs
At The Accounting Place we believe that everything we do is part of your Growth, Retention, Accumulation and Transition of Wealth plan. We also believe that no one can know it all, or be a specialist in all aspects of wealth management. This is why we specialize in taxation and work with a team of financial specialists, either your existing team or ours, consisting of financial planners, investment advisors, bankers, lawyers, estate and retirement specialists and insurance representatives. This gives you the expertise that you need and, with The Accounting Place working as part of your wealth management team, we can help you plan and manage your finances to your best overall advantage.
LOOKING AT THE WHOLE PICTURE? THAT’S REAL WEALTH MANAGEMENT ™
Stay in the loop
In need of a complete business and personal Real Wealth Management™ plan?
Accounting Services
We approach your business and corporate accounting with a focus on your tax circumstances to help ensure you achieve financial success.
Achieve Your Goals With Realistic Accounting & Bookkeeping
At The Accounting Place, we can help you analyze current performance, establish realistic plans and budgets, set both financial and non-financial performance indicators and then monitor your progress. Whether your accounting needs are bookkeeping, payroll or financial statements, The Accounting Place will help you achieve your financial success.
Accounting Services Include:
General Accounting
The means of collecting, recording and communicating relevant and reliable information regarding the financial activities of a business or organization. Bank accounts, loan applications and payroll are common instances where proper accounting procedures are required in order to be successful.
Financial Accounting
The form of accounting that is intended for external use. External reports or financial statements are prepared to illustrate the financial position of an organization while following the Generally Accepted Accounting Principles (GAAP).
Managerial Accounting
Accounting that provides detailed information to meet the needs of internal users or decision makers. This form of accounting is important for a business to plan for the future, but does not always follow GAAP, which makes managerial accounting inappropriate for external purposes.
Stay in the loop
We provide all of these accounting services while keeping a watchful eye on your tax situation.
Personal Tax
“You have the right to receive entitlements and to pay no more and no less than what is required by law” ~ Taxpayer Bill of Rights
Get The Tax Return You’re Entitled To
Personal income tax returns are the end result – your report card – outlining your income for the year. You may also be entitled to a host of tax deductions and tax credits, but unfortunately Canada Revenue Agency won’t necessarily tell you if you missed them and that you need to ask for the credits. Whether employment expenses, medical or disability claims, investments or interest costs, they may all apply to your tax return.
Keep More of What You’ve Earned
Tie your personal income tax into your wealth building plans, and create a tax planning strategy that helps ensure that you pay no more than what is required by law.
A Sound Tax Plan is a Crucial Part of Maximizing and Retaining Wealth Over the Long Run
Corporate Tax
Corporate tax returns must be filed separately from the personal returns, but they should always be considered with your financial strategy in mind. That’s how The Accounting Place helps you to grow your business wealth.
Tax Efficient Structuring To
Improve Your Wealth Retention
Tax efficient structuring for your financial affairs, both personal and corporate, result in lower overall income taxes rates. This increases your overall wealth retention, and like most financial decisions, needs to be in place before it’s too late.
Taking Your Personal Taxes Into Account For Greater Peace Of Mind
Tax Recovery Audit
Our Complimentary Tax Recovery Audit will help ensure that your taxes are accurate and potentially provide you a greater tax return by looking back at your tax history from previous years.
There are many ways to complete tax returns and each can be technically correct, but there is only one way that is to the best overall advantage of the individual family unit.
In 1999 the Federal Department of National Revenue created the Canada Revenue Agency and made the Agency responsible for, among other things, the Income Tax Act. While this change by itself may not appear to be a big deal, the effect on the Canadian taxpayer was huge.
As an agency instead of a government department, CRA is not responsible to ensure that the correct amount of tax is paid; they are responsible to ensure that at least the correct amount of taxes has been paid within the legislative framework. There is no obligation on the part of CRA to advise if you have overpaid your taxes.
Improve Your Overall Tax Picture
The Accounting Place will review prior year returns with an eye to improving the overall tax picture of the family unit. Too many times professionally prepared returns are technically correct, but can still be improved upon.
We look at prior year’s tax returns for a multiple of reasons:
- Recovery of overpaid taxes through
missed deductions and/or elections - Build a history for future tax
planning and efficiency - Develop forward thinking tax
strategies to improve wealth retention
It’s Not Too Late to Get Your Money Back
Canada operates a self-assessing tax system. What this means is that the individual is responsible for reporting their income and calculating the amount of tax to be paid on the income. If the individual calculates and pays more tax than what is required, CRA is not required, nor under any obligation to correct or optimize the tax return to the best overall advantage of the taxpayer.
The tax specialists at The Accounting Place will review your past three years’ personal tax returns with an eye to improve them. There is no charge for this service, however charges will apply when excess amounts paid are discovered and recovered.