Death and Estate Tax Accounting
Losing a close family member or friend is never easy. With our compassionate advice and guidance, we’ll walk you through gathering the necessary documents and filing tax returns for your loved one. Protecting the financial welfare of the beneficiaries is crucial, so we’ll offer solutions to reduce the amount of death taxes.
If you’re unsure what you need to report to whom and when, FYPC can assist you with that. We’ll help you set up the legal representative, clarify the documents that need to be sent to the CRA, and explain the filing process, tax deadlines, and necessary returns.
During this challenging time, we’ll become your trusted advisor, providing you with proactive advice about deceased and estate tax returns in Canada.
If applicable, we can also show you how to accurately split income with family members and minimize tax on the distribution of the assets.
Personal Income Tax Preparation
Filing your personal tax returns yourself is often time-consuming and confusing. Hiring us as your personal tax accountant can lighten the burden and eliminate oversights.
We customize our tax services for each client and their unique tax situations and challenges. We’re experienced with handling various tax preparation cases (including T1 individual tax returns, GST returns, non-resident returns, and separated, divorced, deceased, or retired returns) and can capably file your return on time. Whether you’re an employed or self-employed individual, we apply our tax-minimization strategies to optimize your after-tax income.
Tax legislation changes frequently. Our personal tax accountants remain current with the most up-to-date legislation to ensure you’re compliant and that we apply for all the tax credits that you’re eligible for.
And after we’ve filed your return, we follow up on the results with CRA, reply to processing review letters, and ensure you keep on top of the installments you may owe. We work with you to plan ahead.
Small Business Tax Compliance and Bookkeeping Services
Maintaining financial records is just one of the hundreds of countless tasks you must complete as a small business owner. Our professional support can help you free up time while ensuring your financial records are correctly maintained.
To become as efficient as possible, you’ll need to streamline your financial reporting process. Our bookkeepers will learn your needs before setting up a system that tracks necessary tax information. Your management reports will accurately reflect the performance of your business to ensure decisions become more data-driven.
Our payroll management, bank reconciliations, and accounts receivable and payables services are comprehensive and always focus on achieving business growth. Whether working with a consulting or professional business, a not-for-profit, or a real estate corporation, we’ll keep on top of tax reporting deadlines and payments for corporate, GST, payroll, and other business taxes.