Personal Income Tax 

Income tax advice and tax return preparation

Tax season doesn’t have to be painful. With Clearly Accounting on your side, you’ll feel confident that you and your family are getting the most savings possible. We demystify taxes so that you always know where you stand with Canada Revenue Agency. You’ll feel empowered knowing that your tax planning will help you set up a strong foundation toward achieving your financial goals.

The key to minimizing tax liability is careful planning. Together our wealth planning experts will help you set realistic goals, develop and implement a financial plan, and meet your compliance obligations. We keep up-to-date with ever changing tax law so that you can have peace of mind.

Whether you’ve lived in British Columbia your whole life, have recently moved from another province or territory, are a professional, mechanic, medical practitioner, construction worker, a business owner, or even a student, our highly qualified staff will prepare and e-file your taxes annually and help you plan throughout the year.

Why hire an accountant?

Hiring an accountant to file your taxes has many benefits including:

  • More money refunded: accountants understand the best deductions and credits to ensure that if you qualify for a refund that you get the greatest refund available.
  • Reduce money payable: if you know that you are going to owe money on your taxes, an accountant can help to keep that amount as low as possible. There are often deductions or credits available if you know to look for them.
  • Assistance with financial decisions: whether you are thinking about buying or selling a house, taking a new job, or considering a new investment, an accountant can explain any tax implications.

When to get an accountant?

Now is always the best time. It doesn’t need to wait until tax season. An accountant can help you plan so that you aren’t taken by surprise come tax time. Here are a few circumstances where an accountant can be really important:

  • Selling a property
  • Rental income
  • Investment income
  • You received an inheritance
  • You need help budgeting
  • You want to give a large monetary gift
  • Self-employment
  • Commission based income
  • Multiple income streams
  • You recently got married or divorced
  • You recently immigrated or are considering emigrating

What does an accountant do?

An accountant helps you to:

  • Understand your tax situation
  • Reduce your income tax
  • Benefit from government incentives, available credits and deductions
  • Structure tax-effective investment strategies
  • Take advantage of tax planning techniques such as income splitting, trusts, insurance and will planning
  • Help you stay organized and keep track of deadlines and have enough time to get ready to take the most of available incentives or tax savings

For US citizens living in Canada, or Canadians investing or living abroad, Clearly Accounting brings the expertise of both the Canadian and American CPA professions to save you a lot of money.

Contact Clearly Accounting today to get started on your taxes.