Accounting, Corporate & Personal Tax Planning and Incorporation
Based on your family composition, we advise the best corporate structure to minimize your bottom line tax bill. The best practice for tax planning begins with appropriate corporate structure.
If you’re a health professional entrepreneur (e.g. doctors, psychologist, and pharmacist) with or without partners, we can advise you an appropriate structure for your corporation including shareholding and officers with effective tax planning and in compliance with applicable college guidelines.
CRA Tax & Payroll Audits
We manage CRA tax and payroll audits by acting in a professional and businesslike manner. We will discuss with you, gather and compile all required information to support your claims/returns filed with CRA.
We provide a full range of tax services from basic compliance to advanced tax planning and reorganizations. We discuss your family structure and identify key tax planning opportunities that minimize both current and future tax liabilities.
We are dedicated to client satisfaction, and we're ready to use our knowledge and skills to make your life easier while best serving your financial needs. So whether you need help with an internal processes and controls or require assistance with filing your taxes, we're up to the challenge. For more information about our accounting services or to schedule a consultation, call us today.
Arora Professional Corporation, Chartered Professional Accountant offers bookkeeping services, corporate tax planning and income tax preparation, estate planning, CRA audits in Brampton. A good accountant can give you pertinent advice on taxes, accounting systems, corporate structuring, and estate planning. Our goal is to save your valued time and uncertainty by providing reliable, efficient and personalized business accounting and bookkeeping services. The more successful your business becomes, the more difficult it will be to keep the government's tax fingers out of your chequing account. Our team provides valuable experience, knowledge and skill to our wide variety of clients
BUSINESS ADVISORY SERVICES
Preparation of financial statements based upon client provided information. Generally compilation services…Read More…
Forecasting is a necessity when trying to effectively manage and lead a business to profitability…Read More…
We provide a full range of tax services from basic compliance to advanced tax planning and reorganizations…Read More…
Effective estate planning facilitates the orderly transfer of your assets to the next generation, provides security…Read More…
Business Advisory Services
These services can help your business to identify and find solutions for areas negatively affecting profitability…Read More…
Business Succession Planning
For business owners, providing for business continuity and succession of ownership is essential. Proper…Read More…
As a result of the new income splitting legislation released on December 13, 2017 , 2017 is the last year for many taxpayers in which dividends could be “sprinkled” to adult family members without attracting tax on split income (“TOSI”). As a result of the new rules, income sprinkling using dividends will likely attract more attention from the[…]
Ah, the married life! When planned well, matrimony can turn into a beautiful, life-long partnership. But prior to tying the knot, many newlyweds fail to ask crucial information about their partner’s life that may place an expiration date on their marriage one day. Before you take the leap into matrimony, sit down for a serious conversation with[…]
Since tax laws change every year, it is strongly recommended to update yourself with new tax laws to maximize your tax refunds. Even a change in your family status from the previous year requires different tax planning in current year. The checklist serves as a reminder of what types of payments are deductible or claimable[…]
This attached presentation will give you quick answers to many questions relating to 2017 personal tax return and corporate tax planning. We list major changes to attached presentation, including income tax changes that have been announced but have not become law at this time. Click to view 2017 updates – 2017 Tax Updates
The standard age for starting Canada Pension Plan retirement benefits is 65. However, you can take a reduced benefit as early as age 60 or receive larger benefits by waiting as long as age 70.This calculator offers a rough estimate of whether to it makes sense to take CPP early, at 65 or delay. A[…]
Question: Hi, I have my non-registered investments at ModernAdvisor and really enjoy the platform and the service. However, I haven’t opened an RRSP or TFSA yet. The reason is that I’m not sure if I will stay in Canada for the remainder of my career. My question is, what would happen to my RRSP and TFSA if[…]
Find out what OHIP covers when you’re temporarily outside Canada. Check your health card before you go You should bring your health card with you if you’re planning to travel outside of Canada, but first, make sure it’s still valid. A valid Ontario health card has: not expired your correct personal information on it (e.g. name, birthdate) your[…]
I have purchased a new home and have moved into it. I have finished part of the basement into a legal suite. I have not rented it out yet. My question is, if I rent the suite out will I be able to claim the primary residence tax exemption when I sell my home? Read[…]
With an eye to next spring’s election, Ontario’s Liberal government will slash small business taxes as part of $500 million in new investments aimed at easing the transition to the province’s increasing minimum wage. Finance Minister Charles Sousa unveiled the government plan in the province’s fall economic statement Tuesday afternoon. The corporate tax rate for[…]
Accountants are busy crunching the numbers for small-business clients who may be affected by Ottawa’s proposals to close loopholes these companies use to lower their tax bills. The Liberal government is looking to remove what it sees as a financial advantage people with corporations have compared with salaried employees. Business owners argue the suggested moves are unfair[…]