Welcome!

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I am a Chartered Professional Accountant who provides accounting and tax services to businesses, individuals, and entrepreneurs in Toronto, Mississauga and York Region including Thornhill, Richmond Hill, Concord, Markham, Vaughan, Newmarket and Aurora.

I believe that my clients deserve great service!

My services are knowledgeableprofessional and affordable. (They’re also friendly!)

If you are…

  • tired of not getting your calls returned by your accountant
  • tired of feeling like the little guy in a pool of larger clients
  • tired of waiting forever to get what you are paying for
  • tired of paying expensive accountant’s fees that go up every year

… then give me a call at 416 644-4788.

If you are a few years behind in filing your tax returns… it’s time to catch up! Not filing can get you in trouble! To discuss your options… call me!

 

TOP TEN QUESTIONS FOR THE 2019 TAX YEAR

Q: How can I keep the tax man off my back?

A: The best way is to make sure all your deadlines are met. File HST returns, T4, T5, and other information returns as well as corporate taxes ON TIME to help avoid an audit. If you need help meeting deadlines… call me.

Q: Should I use an accountant or do it myself?

A: Accountants are trained in the tax system and have years of practice! We know what you should do and how you should do it. We help you plan ahead to save tax dollars and meet your goals. We help keep CRA away!

Q: I’m a consultant on a contract. Is there anything special I should know?

A: If you provide services through a ‘personal services business’, recent changes in the tax code have implications for you. I can help sort them out. If this is you, read this important article in the Financial Post and then… call me.

Q: Am I paying too much HST?

A: If you are not using the Quick Method to compute your HST you could be paying too much. To find out what it’s all about visit this CRA page and then… call me.

Q: Can I save money by paying a family member to work for me?

A: Yes. You can pay a spouse or a child a reasonable salary based on their involvement in the business. This can result in significant tax savings.

Q: Can I save money by splitting my pension with my spouse?

A: Yes. Recent changes in the tax code allow transfer of up to 50% of pension income from the higher income spouse. This can result in significant tax savings.

Q: Can I save money by paying dividends from my corporation to my children?

A: Recent changes to the tax code mean that you can no longer pay dividends to children 18 to 24 years of age without triggering a possible Tax on Split Income (TOSI). However, you can definitely pay them for work they do for your business.

Q: What’s the best approach to investments that have lost money?

A: Consider selling investments with accrued capital losses so that you can carry back those losses against previous or current capital gains.

Q: What expenses are deductible?

A: If paid before the end of the year, you can deductmoving expenses, *child care expenses, *charitable donations, *political contributions, *medical expenses, *spousal support, *union and professional dues, *interest and carrying charges, and *transit passes. There are many others.

Q: When are corporate taxes due?

A: Corporate tax returns are due six months after your fiscal year end. For example, June 30, 2020 is the deadline for filing corporate income tax returns with a December 31, 2019 year end. Filing by this date will avoid late filing penalties.

Need help? Give me a call at…

416 644-4788

 

Fax: 416-644-4790

Mobile: 416-271-2234

Email: rita@ritazelikman.com

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