Tax Preparation

“The hardest thing in the world to understand is the income tax.
– Albert Einstein

Each year taxpayers overpay billions of dollars simply because they fail to claim all of their entitled deductions and credits. Tax planning is a process that involves more than filing a tax return. It is a 365 day process which involves coordination with all of your financial matters in order to maximize your savings.

Working with our experienced team at CIC ensures that you are utilizing as many deductions as possible and that tax strategies are being implemented so that you are paying the least amount of tax possible. Planning ahead is the key to minimizing your taxes and maximizing your returns.

We can assist you with the following Tax Returns:

  • Personal
  • Trust and Estate, Final Returns
  • Self-Employment
  • Rentals
  • Commission

 

2017 Fee Schedule

For your convenience we’ve created a Personal Income Tax Return Checklist with all the information we will need to complete your return.

As an added convenience, please scan and email your tax documents to our new email address:  taxdocuments@cicfinancial.ca.

Marginal Tax Rates for 2016 and 2017

In addition to filing your current year’s tax return, we will also review your prior year’s tax returns to determine if a reassessment may be in order. When a reassessment is in order, there is the probability that you may be entitled to a refund or credit. As there are numerous reasons for requesting a reassessment, it is to your advantage to find out what possibilities are available to you.

Do I Need a Financial Planner for Taxes?

Many people either file their taxes on their own using do-it-yourself tax programs or have them completed by someone other than their financial planner. It’s to your advantage to have us complete your tax return as we are aware of your entire financial situation and will be able to implement fundamental tax-saving strategies into your investment plan. Changes are often made to tax procedures that the average person is unaware of. CIC uses specific information about your personal finances and we integrate those particulars to save you money. A do-it-yourself tax program does not have the most up-to-date information and therefore cannot provide you with the individual and complete service that we offer. A prime example of this is the Disability Tax Credit. Many people with a disability miss out on significant tax credits and may have unclaimed tax refunds from previous years. This includes spouses, family members and caregivers of those with a disability. We will ensure that should you qualify for a disability tax credit or caregiver amount that you will receive what is entitled to you.

Charitable Giving

Although saving money on tax may not be the primary incentive for contributing to a worthy cause, making charitable donations may have different tax or financial effects whether donating by cheque or a bequest in your will or setting up a private foundation. CIC Financial can advise you on which method best suits your situation.

Non-Resident Tax Services

CIC can help coordinate your taxes and investments if you are a Canadian living abroad. Your situation is complex and CIC can help in ensuring that you are aware of all of the implications involved.