Your guide to smarter tax strategies with Accounting Montreal
Understanding the Real Value of Strategic Tax Filing
Why Your Tax Return Is More Than Just a Form
Every year, countless Canadians treat tax season as a simple checkbox—submit your forms, hope for a refund, and move on. But at Accounting Montreal, we believe your personal and corporate tax returns are more than just paperwork; they’re opportunities.
Whether you’re a self-employed professional, real estate investor, or the CEO of an incorporated business, smart tax planning can help you unlock savings, stay compliant, and invest in long-term financial health.
Personal Tax Returns in Canada
What You Can Claim and What Most People Miss
Filing your personal income tax return doesn’t have to be stressful. But it does require careful attention to the deductions and credits you’re entitled to.
Key Deductions for Individuals
- Medical Expenses: From prescriptions to therapy, qualified health costs may be deductible.
- Home Office Deduction: If you worked from home, you may be eligible to claim workspace costs.
- RRSP Contributions: Maxing out your RRSP can lower your taxable income while building retirement savings.
- Union and Professional Dues: Many professionals can deduct association fees and dues.
The Hidden Savings in Tax Credits
Beyond deductions, Canadians may qualify for non-refundable and refundable tax credits, including:
- Canada Workers Benefit (CWB)
- GST/HST Credit
- Tuition & Education Amounts
- Disability Tax Credit (DTC)
Accounting Montreal helps ensure none of these valuable credits are overlooked. We walk you through every opportunity, line by line.
Corporate Tax Returns: More Than a Year-End Obligation
The Power of Planning Ahead
Running an incorporated business in Canada? Filing your T2 corporate return is more than a compliance issue; it’s a critical part of your overall business strategy.
Top Corporate Tax Deductions
- Salaries and Wages: Payments to employees, including bonuses and CPP contributions
- Business Operating Expenses: Office rent, utilities, advertising, and business supplies
- Vehicle Expenses: If used for business purposes, you may deduct a portion of your car costs
- Professional Fees: Fees paid to accountants, lawyers, and consultants
- Capital Cost Allowance (CCA): Depreciation on eligible equipment and technology investments
Corporate Tax Rate Optimization
Did you know your tax rate depends on how your income is structured?
With proper planning, you may qualify for the small business deduction (SBD), reducing your corporate tax rate on the first $500,000 of active business income.
At Accounting Montreal, we structure your corporate finances to ensure you benefit from every legal tax advantage.
Common Mistakes That Could Cost You
Avoid These Costly Filing Errors
Even small errors on a tax return can lead to delayed refunds, audits, or penalties. Here are a few common mistakes we often correct for new clients:
Overlooking Eligible Expenses
Many entrepreneurs underclaim simply because they don’t know what qualifies.
We help you track and categorize every deductible expense accurately.
Missing Filing Deadlines
- Personal Tax Deadline: April 30 (or June 15 for self-employed individuals, with interest still applied after April 30)
- Corporate Tax Filing: Six months after your fiscal year-end
- GST/HST Returns: Varies by reporting frequency
Our system includes reminders and automated support to help you stay on track and avoid late fees.
Inconsistent Bookkeeping
Inconsistent or incomplete records lead to guesswork and exposure during audits. That’s why our bookkeeping services are tightly integrated with tax strategy.
Tax Planning vs. Tax Filing
Why Year-Round Strategy Makes All the Difference
There’s a big difference between filing your taxes and planning your taxes. Filing is reactive. Planning is strategic.
At Accounting Montreal, we offer ongoing consultations throughout the year. This allows us to:
- Monitor your income and expenses
- Recommend tax-saving adjustments before year-end
- Advise on dividend vs. salary strategies for business owners
- Plan large purchases or investments with optimal tax timing
Who Benefits Most from Professional Tax Services?
It’s Not Just for Corporations
We work with individuals, families, and businesses across sectors. You should consider professional tax support if:
- You’re self-employed or run a small business
- You own investment properties
- You’re earning income from multiple provinces
- You want to incorporate or restructure your company
- You’ve experienced a major life event (marriage, retirement, inheritance, etc.)
- You simply want peace of mind that your taxes are done right
Why Work with Accounting Montreal?
Experience, Transparency, and Proactive Support
At Accounting Montreal, we’re more than just tax preparers. We’re your financial partner for success. From our base in Laval, we proudly support clients in Montreal, Toronto, Quebec City, Vancouver, and surrounding areas like Brossard, Longueuil, Dorval, and Boucherville.
Personalized Support for Every Client
We don’t believe in one-size-fits-all solutions. Your tax return is custom-built to fit your financial profile, income sources, and goals. And if the CRA comes calling, we’re there to support you.
Fully Digital and Always Accessible
Need to upload receipts? Ask a question? Review your statement? We use secure, cloud-based tools so your tax file is always at your fingertips.
Let’s Maximize Your Return This Year
Your Next Step Starts with a Conversation
Don’t let tax season become a missed opportunity. Whether you’re an individual looking to increase your refund or a business owner seeking strategic insight, Accounting Montreal is ready to help.
📞 Book a consultation today and discover how proactive tax planning can save you money and stress, all while supporting your long-term financial goals.
