Categories: Estate Planning

Estate Planning or Succession Planning

This is done to ensures proper distribution of your assets to the beneficiaries and saving huge amount of potential taxes.

This planning is a complex matterand requires two major expertise, legal and accounting.

Only some lawyers and only some accountants have this expertise.

So, you have to hire two professionals for proper Estate Planning.

You may manage with only one if you can find a lawyer with strong background in taxation or an accountant with strong background in estate law.

We at H&T Accounting Service can help you to:

  • Prepare Trust Income Tax (TIT) returns
  • Prepare Final Returns of deceased persons
  • Determine how much taxes could be saved by getting the trust designated Gradual Rated Estate (GRE)
  • Ensure the Trust is structured to minimize damage from the new powerful Tax On Split Income (TOSI)
  • Do all necessary accounting of the trust and prepare reports for the satisfaction of beneficiaries
  • Procure from CRA a Tax Account Number (TAN) for your trust
  • Procure from CRA the necessary Clearance Certificates
  • Plan tax related terms for a trust you want to setup
  • Plan transactions to eliminate triggering of Double Taxation.
admin

Share
Published by
admin

Recent Posts

Top Qualities to Look for in Professional Bookkeepers

It is critical to find a professional bookkeeper with the right mix of personality traits…

3 weeks ago

The Benefits of Professional Help for Your Tax Returns Mississauga

Navigating the complexities of tax returns can be daunting, especially with ever-changing tax laws and…

3 weeks ago

<strong>Why You Should Consider Local Accountants in Brampton for Personalized Service</strong>

Every person in the world needs an accountant for their own and business’s financial gains.…

5 months ago

<strong>What You Need to Know Before Starting a Business in Brampton</strong>

Brampton is one of the most significant locations for a startup in the province of…

5 months ago

<strong>The Top 5 Qualities to Look for in a Tax Accountant in Mississauga</strong>

Have you ever heard how crucial it is to select the best tax accountant? It’s…

7 months ago

The Importance of Accurate Bookkeeping for Financial Success

Accurate bookkeeping is essential for more than just meeting legal requirements; it provides businesses with…

7 months ago