tax planning
At tax time, you may be leaving money on the table if you do not have a good understanding of what can be claimed on your tax return.
Taxes are major impediments to creating and maintaining independent wealth.
Whether you’re an executive of a profitable company, the owner-manager of your own business, a hard-working spouse and parent, or a busy single, our knowledgeable professionals at HLF can give you practical, strategic tax advice that can help you keep more of your hard-earned dollars and build your wealth.
We will work with you to plan for the future with flexibility and minimal tax liability. We will help you structure transactions in a pragmatic and tax effective way. The tax rules are complicated and ever-changing. You need professionals who keep abreast of these changes and can give you sound, up-to-date advice.
For example, based on your personal circumstances, here are a few of the many things our HLF team can do to help you save money at tax time and all year round:
- update you on the latest federal and provincial tax credit amounts
- advise you on special tax breaks available for people in your situation
- create a sound tax-effective plan for your family’s future and your retirement
- explain the tax consequences of such things as investment income, borrowing to invest, income splitting and retirement planning
- advise you on the tax implications of investing in advantageous investment products like stocks, bonds, mutual funds, and life insurance products
- advise you on how you can defer taxes through popular savings vehicles like Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs), Registered Education Savings Plans (RESPs) and Registered Pension Plans (RPPs)
- explain how you can reduce taxes on your employment or business income by claiming for items like home office expense, cars, and moving costs
- explain how you can structure your charitable donations to take advantage of the value of the gift and the tax benefits to you or your estate
- advise you on how to shield your earnings and property from U.S. income and estate taxes
- create a plan to leave more money to your heirs and less to the Canada Revenue Agency (CRA) through strategies such as business succession planning, family trusts, and estate freezing
- obtain advance tax rulings on difficult tax issues and transactions
- deal with the CRA, from filing your return to launching an appeal of taxes in dispute.
On the corporate side, we offer expertise in corporate tax, whether in regard to a specific transaction or by providing general advisory services.
For instance, we work as part of a team of professionals to advise on the taxation aspects of business acquisitions, divestitures, reorganizations and restructurings. We provide tax advice to both Canadian corporations, income trusts and other entities and foreign-based entities that operate here.
For instance, we can advise about:
- corporate finance and capital markets
- private equity
- financial products
- investment funds
- pension funds
- directors and officers compensation
- commodity
- sales and use taxation
- banking taxation
- insurance taxation
- customs and tariffs
- energy and resource taxation
- technology and e-commerce taxation
- transfer pricing; and international tax planning
So if you’re seeking professional advice about tax planning strategies to minimize the taxes you or your business pay, consider your team of dedicated, knowledgeable professionals at HLF. We will work hard for you to save you money.
Tax planning is a year-round activity and an important part of your financial planning. Don’t put it off. Give our team at HLF a call.
