Tax consulting to financial advisors, lawyers, accounting firms and other professional advisors

My fees for services are competitive to that of the GTA area. I may invoice you or your client for a specific tax engagement, whatever you prefer. Initially, a retainer may be requested.

I will take the lead on tax engagements, review with you all relevant facts and information. A detailed instruction letter for you and your client’s lawyer will be provided, including a review of their legal documentation. If requested, CRA election forms will be provided. At your discretion, I may assist you in selecting a lawyer.

Engagements for business owners and other interested parties

Including the tax services noted above, preparation of unaudited financial statements and tax returns to meet your compliance needs may be provided.

Financial planning, business plans, cash flow projections, financing
As your business matures, your expansion and retirement goals may require modification. I may assist you with these matters as well.

If not included above, please call or email to enquire.

Certification of IRS Form W-7

Effective  April 17, 2017 the IRS reinstated foreign or non-U.S. certified acceptance agents  that was disbanded on January 1, 2017.  Therefore I can now certify or if you wish, review your W-7 to ensure it is complete and accurate. A number of individuals have attempted to complete the W-7 themselves to which errors have arisen causing undue delays and months to successfully obtain an ITIN.  Note that with your self-prepared W-7 you will need to submit your original passport or obtain a certified copy of the passport from Passport Canada.

The ITIN is needed for:

  • non-U.S persons filing U.S. tax return 1040NR, the W-7 is attached to the return
  • persons claiming an exemption for a non-U.S. person as an eligible dependent on a U.S. tax return
  • non-U.S. persons completing IRS Form W8-ECI/W8-Ben that is required for waivers for reduced withholding of the otherwise 30% U.S. non-resident tax, say on gross rental income and other passive income
  • purchasers of U.S. real estate from a non-U.S. person completing IRS Form 8288A or 8288-B (application for reduced withholding) on the sale of U.S. real estate
  • There have been changes to the process as announced in June 2012 and in November 2012 by the IRS.

To prove foreign status and identity, you must submit certain original documentation or certified copies issued by the issuing agency. Your passport as an stand-alone document will prove both foreign status and identity. For those renting U.S. properties, you need to obtain a letter from the management company on their letterhead indicating that the ITIN is needed for reporting and/or withholding purposes. This letter must be attached to the W-7. Other withholding agents must prepare a similiar letter.
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Detailed Tax Services

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The following is not an all- inclusive list, however it should provide a representation of the tax work that I may provide.

Estate Planning

  • Freezes-passing on future appreciation
  • Income splitting-dividends, capital gains, cheaper after-tax dollars for education/personal use
  • Alter-ego/joint-partner trusts
  • Wasting freeze-share redemptions (using GRIP)
  • Shareholder agreements/buy-sell
  • Wills

Post Mortem Planning

  • Corporate restructuring -bump, pipeline
  • Terminal, rights/things tax returns

Corporate Restructuring & Succession Planning

  • Inter-generational farm transfers
  • Creditor proofing, capital gains purification
  • Incorporation of professionals and other business
  • Employee share acquisitions
  • Shareholder split-up, asset spin-offs
  • Capital gains crystallization
  • Loss utilization-amalgamations, wind-ups
  • GRIP crystallization, secure loan-back, purification
  • Capital dividend account distributions
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Partnership Restructuring

  • Incorporation of partnerships
  • Wind-up partnership
  • Conversion to proprietorship

Immigration/Emigration Planning

  • Residency and departure issues
  • Canadian/U.S. tax filings such as T1,T2,T3, U.S. 1040/1040NR, 1120/1120F/1120S,1065,706/706-NA
  • U.S. rental property purchase/sale
  • Clearance certificate applications under Section 116
  • U.S companies with Canadian branch operations
  • Canadian companies with U.S. branch operations
  • Other in-bound/out-bound transactions

Miscellaneous

  • Debt forgiveness
  • Foreign reporting CRA Forms T1134,T1135,T1141,T1142
  • Scientific research & experimental development tax credits CRA Forms T661/T2038
  • Voluntary disclosure applications