Income tax planning and advisory

Tax planning is an essential part of your financial plans. Whether you are a new immigrant to Canada, emigrating, investing, existing and established entrepreneur, or starting a new business, you need a tax professional partner. We can help you with a successful business set up on either side of the border.

 

Canadian Services

Personal income tax planning and advisory

Our first goal is to minimize your tax bill. Before we begin, we need to understand your current situation, your short- and long-term financial goals. While going through this we note several situations that may apply to you and help you reduce your tax bill. We can ensure maximum contribution ability and tax deductions available for RRSP, TFSA, income distribution, and claim for employment expenses, etc. You get the maximum refund amount or lowest tax payable.

Corporate income tax planning advisory

Our comprehensive list will guide you through maximizing your deductions. We handle both your personal and corporate tax planning which may involve income distributions, shareholder compensations, and an analysis of overall tax liability.

Business tax planning and advisory

All the legal knowledge and planning you need for GST/HST registration, salaries, as well as everything you need to know about the end of year taxes with the CRA, such as EI, CPP, and even WSIB payments.

Succession planning

Succession planning involves long-term vision and can make big difference in tax savings. We recommend that you plan in advance. We advise Complete Canadian replacement planning in the event of a business leader’s dismissal, retirement, or even death. Succession planning ensures an experienced and capable employee can assume the role if a succession needs to occur quickly and smoothly.

Business valuation and acquisition

We have experience in dealing with various types of industries. Which can predict the value of your new acquisition based on facts and figures. At the same time, we can also advise you the worth your business is.

 

USA Services

Individual income tax planning and advisory

Application for residency status, tax filing requirements based on citizenship and residency. We can aid in filing previous years’ unfiled taxes and what country to file to ensure compliance and get you the maximum tax treaty benefits across the border.

Corporate and LLC tax planning and advisory

We can develop a proper and fluent business structure based on state requirements and guide you through when you plan on doing business in both the USA and Canada. Your choice will result in setting up the best business structure with our advice.

Business tax planning and advisory

All the knowledge you need for applicability or Sales and Use tax is made available to you with our services. Let us deal with state and federal filing requirements, so you save money and be worry-free from any legal hassles.


  • Pre-designed robust inquiry template curated for each of our clients to obtain a thorough understanding of their needs and future goals
  • Provide tax alternatives with recommendations
  • Review and discuss with clients

 

Our services

  • Personal income tax planning
  • Succession planning
  • Corporate income tax planning
  • Cross border-tax planning

Most common tax issues that can involve planning

  • RRSP planning / First time home buyer credit, TFSA
  • Home office expenses
  • Allowable Employment expenses (T2200)
  • Capital loss Vs. business loss
  • Business ownership structure
  • Subsidiaries and Holding Company
  • Distribution of corporation income to family members
  • Section 85 of the Income-tax Act of Canada for tax deferral on the transfer of personal property to a corporation
  • Section 83 election on Capital Dividends
  • Regular withdrawal from the corporation
  • Dividend, Salaries, Bonus, or Management fees
  • Loan to shareholders
  • Use company-owned Car and other facilities
  • ABIL – Allowable business investment loss
  • Life-time capital gain exemption
  • Residency status and double taxation
  • Emigrating or re-entering Canada

 

At RKB, we invest time in understanding your needs and your goals. With our comprehensive knowledge of cross-border taxation, we help new and existing businesses plan their future taxes and grow their business while complying with tax laws year around.

 

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