Personal tax services
Burns & Company Chartered Professional Accountant provides tax planning services so you can better understand your taxes and how to achieve maximum tax savings. Whether you need assistance with income or estate tax planning, we’re adept at advising you about the impact of taxes and how they relate to you on a personal level.
Here are a few helpful tax planning tips to get you started:
- Try to save in tax-efficient accounts (Registered Retirement Savings Plans (RRSPs), Tax-Free Savings Accounts (TFSAs), etc.) whenever possible.
- File your taxes on time to avoid unnecessary penalties and/or interest from accruing.
- If your employer offers any tax-free perks, be sure to take advantage of them. These can include moving costs, personal counselling, death benefits and reimbursements for fitness, daycare or educational costs.
- If you are a senior receiving your pension or Registered Retirement Income Fund (RRIF) payments, consider splitting your pension income for tax savings.
- Plan ahead for certain charitable donations, medical expenses, support payments, political donations, etc. that you know will have to be paid by the end of the year.