As an entrepreneurial leader, does your employer require you to pay your own expenses? Do you need to travel for work; do you use your personal vehicle for business? Does your role require you to entertain your clients? Do you have advertising or marketing expenses as a result of your work? We find all your pertinent deductible employment expenses and coach you on how to make them demonstrable to Canada Revenue Agency.
~HOME OFFICE EXPENSES~
Do you enjoy the freedom of working from home? We explore a multitude of avenues which may allow deductions for the professional use of a work space in your home. When this space is your principal place of business there are many financial benefits to claiming home office expenses. The experts at Evolution Accounting thoroughly evaluate your specific scenario so you can effectively reduce your taxable income while you produce results surrounded by the comforts of home.
We are committed to the well-being of your financial reality and the stewardship of your personal health. We know you take good care of yourself and your family, and part of that care sometimes means securing medical support. We can advise what is eligible to claim, and help you keep your medical expense reporting clean and clear so you are getting an enhanced return on your well-being expenses.
Have you contributed to a federal or provincial political party or candidate? Our tax experts at Evolution Accounting can help you get the most from your donation dollars. We help your political gifts work for you long after you’ve impacted another’s success.
Canadians also foster a culture of giving, helping and supporting. It’s not a surprise that the Canadian government provides generous tax credits for your charitable donations. A great strategy is to combine all family donations onto one tax return for maximum benefit. We know the most efficient ways and means to allocate your donations, ensuring you are getting beneficial results on your tax return.
~REGISTERED RETIREMENT SAVINGS PLAN~
A registered retirement savings plan (RRSP) is great tool to save money for retirement in a tax-sheltered plan. The gift that keeps on giving, eligible RRSP contributions can be deducted from your personal income, thus diminishing the overall tax you need to pay. Contribution room is calculated on your employment earnings. The funds remain tax deferred as long as they remain in the account.
We understand the requirements needed to take advantage of pension splitting which allows an allocation of pension earnings to the lower earner in a relationship. Spouses and common law partners save what could be thousands of dollars by lowering the tax bracket of the higher earner. Make the most of your retirement earnings by using the services of Evolution Accounting to maximize your financial freedom and fun!
With the support of your invoices, receipts, contracts, and other pertinent documents, we can guide you through the determination of all rental gains and losses, and whether your rentals are simply properties, or businesses. We know all the items you can deduct and the diligent team at Evolution Accounting works enthusiastically to lower your taxation rates and raise your profitability on all your rental ventures.
If you’ve moved to or within Canada this tax year, you may qualify to claim your moving expenses. There are several scenarios which enable you to take advantage of this tax break, and the capable CPA’s at Evolution Accounting can investigate all the possibilities for, and with you.
~DISABILITY TAX CREDIT~
Because not all Canadians are faced with the additional costs and unavoidable expenses that come with living with disability, there is tax relief in the form of a disability tax credit (DTC). This credit helps persons with disabilities, or in some cases, their support workers reduce tax payable. Evolution Accounting can help you determine your eligibility and shepherd you through the DTC application process.
Are you caring for a dependant who relies on you for daily support and assistance? You may be eligible to claim your dependant on your tax return and get access to a tax reducing credit. Our professional CPA’s at Evolution Accounting guide you through the myriad of considerations which contribute to your potential eligibility.
When your marital status changes there are options available to you when you claim a child as an eligible dependant. This provides significant advantages namely, supplementary deductions and a possible reduction in taxes. We work with the timing and status of your divorce process to maximize gains to you.
Partner with our team of specialists at Evolution Accounting who will help you strategize the best way to distribute your personal and business assets with the most advantageous tax arrangement for all parties involved. We have access to other planning and legal professionals who can develop clear directives. A strong and meticulous will leaves a strong legacy.
~DECEASED TAX PAYERS~
We are experts at navigating the complexities and certifications needed to file a final tax return. Let us support you and your family through this process as we employ compassion and clarity in undertaking the last taxation obligations for deceased tax payers.
~CPP DEATH BENEFIT~
We can help you apply for the Canada Pension Plan’s death benefit of up to $2,500.00 to help with costs associated with the passing of a loved one.
Our experts have a depth and breadth of experience in this realm which allows them to graciously work on behalf of executors and family members to expedite the completion of the last taxation cycle.
We work with the federal government to facilitate the issuance of a final clearance certificate for deceased tax payers.