taxation
We are reliable accountants in Toronto helping you to take care of filing your tax returns. We not only calculate and e-file your return, but also identify mistakes, omissions, categorical errors in allowances and deductions, which can make huge difference on your tax returns and avoid trouble and penalties. We help resolve tax disputes; we also provide advice and planning to ensure your future. The tax experts at My Partners LLC knоw how to nаvіgаtе the complicated tax code and process to save you money,аnd рrеvеnt mіѕtаkеѕ.
US Taxation
IRS obligations are abundant and may appear difficult, especially for cases involving both US and Canadian businesses, it is seemingly even impossible to understand, MY Partners LLP has experts in just about all aspects that relate to American and Canadian taxes and we will simplify the task for you. We treat each case in a personalized manner to ensure a timely and quality solution.
The cases in which we are most often consulted:
- Employment or self-employed income
- Additional income sources
- Rental property owners to report rent income and sale of property
- Partnership income
- Bank information and other forms
US Citizens
- For those who have never filed a US tax tax return. We have a streamlined process to ensure accuracy and compliance
- File 3 years of past tax returns and file 6 years of FBARs
- For citizens with their main source of income in Canada, we file annual Tax returns and FBARs
Canadian Citizens
- We e-file Non-Resident tax returns
- We assist you to reclaim taxes which are withheld in the USA in a efficient, compliant and expedient way
Canadian Corporations
- Canadian businesses with trade in the United States are required to file with the IRS
- Treaty based tax returns.
At MY Partners LLP, we provide guidance to help you understand the different business models, We will explain the liabilities and tax advantages of each model, allowing you to make wise and informed decisions throughout the process.
Consulting
Business Startup and Incorporation
For those wanting to incorporate, we are knowledgeable with the incorporation laws of Canada and the USA, we can guide you to decide the type and territory of incorporation that will be most beneficial for your business operation and crafted to maximize your ideal tax objectives. At the time of incorporation or at a later date, we can help you with registration of payroll and HST accounts. Moreover, we can connect you to our business partners distributed accros many locations of North America to further assist your special needs.
Additional Professional Services
MY Partners LLP offers other services to meet your business needs, such as budgeting and forecasting, internal auditing and control, specialized analysis and reports.
Business Consulting
We have over 20yrs of experience across multiple industries With over 20yrs of experience spanning many different industries. By reviewing your financial statements we are able to detect your strengths and weaknesses, as well as provide advice where appropriate to improve your operations. When you are planning a project, we can help you analyze the profit, financing, cash flow and tax consequences, so you can make crucial YES or No decisions. When you are considering exiting or selling your business, we conduct a systematic measurement analysis to evaluate the sale price, ensuring you don’t leave any dollars on the table.
Trust & Estate Planning
Trust & Estate Planning
Most of us don’t think of it ahead of time. It is crucial that you make plans to anticipate this unfortunate time in our lives. One of our experienced partners at MY Partners LLP can inform you how much you could save for your beneficiaries if a proper trust and estate planning is done. These important decisions must be done with tax implications in mind. After all, you want your beneficiaries to get most of their inheritance and not the tax man.