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  Compliance

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Taxation, Planning, and Compliance

At Thomson TurnerMoore LLP, we understand the tax challenges
businesses and their owners face. We develop tax plans to achieve the
objectives defined at both the personal and corporate level. Through
our forward-thinking approach we customize effective tax plans that
provide you and your business a competitive advantage.

Our plans encompass:

 

Commodity & Payroll Taxes

In addition to income taxes, your business will also have to comply with numerous commodity and payroll related tax reporting requirements, such as RST, GST, WSIB, EHT and payroll source deductions. We will be able to assist you in designing a system to correctly report these taxes and ensure you take full advantage of the legislation while avoiding interest and penalties.

We can assist in preparing and filing the required tax returns, represent you in dealings with the relevant government agency, file objection notices, obtain and interpret legislative rulings, recommend compliance controls, review prior years commodity tax returns and address any of other commodity tax needs.

Corporate Tax Planning

The underlying objective of any corporate tax plan will be to minimize current and future taxes. We prepare your corporate tax returns with this in mind. We recommend effective tax strategies that will defer and minimize taxes. We may accomplish this by suggesting changes to your accounting process or perhaps other changes that will improve your bottom line. Other alternatives may involve reorganization, amalgamation or a transfer of assets between business entities. We can assist the owner manager through additional strategies such as income splitting and customized remuneration packages.

We can prepare and file your corporate tax returns, represent you in dealings with CRA, review and amend previously filed tax returns, and address any other corporate tax issues your business may have.

Personal Tax Planning

By preparing a proper personal tax plan you and your family will enjoy the benefits of tax minimization. Using state-of-the-art technology and maintaining continuous professional development standards, we have a thorough understanding of constantly changing tax legislation. A tax plan for an owner-manager will integrate both personal and corporate tax planning objectives with the ultimate goal of tax minimization. We work with you to ensure your short and long term goals are met, monitoring developments and recommending changes as required.

We can prepare and file your personal tax returns, represent you in dealings with CRA, review prior years tax returns and address all of other personal tax needs.

Contact Us for further information.