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Taxation

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Taxation

In Canada, a self-assessment tax system is used where individuals, corporations, trusts and partnerships disclose their revenues and expenses during the tax year to the government and calculate the amount of tax owing or the amount of refund they are entitled to. Our firm has highly trained professionals that specialize in tax who can help you navigate through the laws and regulations set in place by the government in order to ensure you do not overpay in taxes.

Duke CPA Inc. offers services for the following groups:

  • Individuals
  • Trusts 
  • Corporations 
  • Partnerships 

At Duke CPA Inc, we have tax specialists that can help you with your specific tax needs.

Tax Compliance

Personal Taxes can represent a significant expense. Our tax professionals are here to ensure that your personal tax returns allows you you claim to the maximum amount of deductions you are entitled to based on your situation. Duke CPA inc prepares tax returns for individuals coming from all backgrounds and uses a detailed checklist to ensure that all your information is accurately included in the tax return and that any available deductions are fully utilized. 

Our firm also has much experience in preparing returns for small and medium sized companies from different sectors. Whether you are a non-resident doing business in Canada, a manufacturing company that is claiming SR&ED, an incorporated farm, an investment company or start-up, we can ensure that your tax return is prepared accurately and on time.

If you have a trust, our team of tax professional can also ensure that all necessary compliance work has been prepared and filed on time. Typically. a return needs to be filed 90 days after trust's year-end. This means for many trusts that have a December 31 year end, the returns must be filed by March 31.

As for partnerships, they have their own set of filing requirements. Despite the fact that each partner is taxed on their share of the profit, a partnership informaton return is used to report fiscal data about the allocation of net income, losses and other amounts from the partnership's account to its members. Our professionals can prepare these documents and assist the partners prepare their personal taxes based on the partnership return. 

Tax Planning

With the tax regime constantly evolving as governments adopt new budgets and the courts pass new judgements, it is important to keep up to date with all the rules. Duke CPA Inc. has a highly knowledgeable tax team that can help you navigate this ever-changing landscape. Tax planning assists with minimizing tax while ensuring that you comply with the laws and regulations in place. Our team can assist you with all aspects of corporate and personal strategic planning, whether you want to incorporate a new business, if you would like to know how to remunerate shareholders of a corporation, or how to best structure your company in a way that will minimize taxes.

Tax Disputes

The tax authorities play a significant role in the self-assessment system, ensuring that companies, individuals, trusts and partnerships comply with the laws and regulations set out by the government. If your tax returns get audited by the government, our team can help you prepare for this effectively. There is often a significant amount of paperwork that needs to be provided, however, our tax professionals will ensure that what you present is clear and concise and help you through the different steps of the audit.

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