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Estate Planning

Your estates are in the right hands. Have your assets managed the right way and let us plan the long-term

success of your estates.

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ESTATE AND WILL PLANNING

Death and taxes are the only sure things in life. Our history in providing personal tax services to families is ideal when navigating the complex interaction between beneficiaries and executors. Tohme Accounting can help you from A-Z and anywhere in between. Whether you need help organizing the affairs as an executor, help to sell assets, or need financial statements prepared, we tailor our services to your needs. It’s never too late to consider the circumstances of handling your assets when you’re in good shape or at the end of your lifespan. We as a professional accounting team are fully equipped to handle your planning and advise you to do the right thing towards your assets. All that will be established and written in your will in case you’re thinking of passing on your estate, or assets, to a spouse or any other family member, and also if you’re thinking of dispositioning the assets in any other way.

Keep a clear and open mind towards your property or any kind of asset you own, because when it comes to taxing these estates you might end up in a double taxation condition where you and the estate receiver, or estate trustee, are going to be taxed on capital income and other necessary taxes. You need us to help you prepare a well-devised plan and thorough analysis of your estate’s condition, and to whom are you willing to pass it on after the circumstances of your death. Leave it to us at Tohme Accounting as we go over your financial statements and status to come up with various steps that you might consider when you plan on dispositioning your assets. In some cases, you have to consider factors like whether the person that will receive the estate from you, in other words, the estate trustee, is willing to take responsibility for the asset. Other matters and factors you might also consider, is the fact that some estate trustees don’t even want the property from the beginning, or can’t even afford the expenses on the estate at hand, and this will create a number of complications and difficulties on the estate owner’s side. Most importantly, you have to also consider the factor of double taxation and other tax-related complications that might arise in this process of disposition as well. So, the main idea here is, leave these complications, tax reporting, and future planning to us at Tohme Accounting. We will take over all the planning and scheduling of your estate’s will and come up with the best plan that suits your needs, as an estate owner, and fits the acceptance of the estate trustee if he/she is willing to take over the estate.

Your estate planning and will establishment be nothing but a simple task for our highly professional accounting team in Ontario. Like we have mentioned, it’s never too late to think about planning for your estate and will, and managing the process. So, why don’t you sit back and leave to us?

INVESTMENT PORTFOLIO ACCOUNTING

While you enjoy the success and achievements your great estates and assets are accomplishing, it’s time to maintain that success as much as possible for the sake of your profits and existence, at least for the time being. There’s no doubt that enjoying the moment and taking in what your accomplishments are providing is satisfying, but you have to consider that this feeling won’t last for long if you don’t plan ahead. It’s very important that you have all your financial statements and situations under control while knowing what your next move is at the same time. You can’t leave your assets performing and providing the usual when you have others competing to reach for the top. You can’t also expect your assets to provide the same results and high income without making the necessary adjustments and investing the right way. Thus, you need to know where and what your next financial investment is going to be implemented.

Leave all of that to the professionals here at Tohme Accounting. Our team of accountants is always ready to take on any challenge whether it’s, managing your finances, reporting your taxes, handling your assets, and keeping track of your records. It’s just another day at the office when it comes to managing an estate or investing in new ones. We use some of the top portfolio accounting software that allows us to dig a bit deeper into your finances and track records. It helps us understand your situation easier and assists in establishing the right plan that goes with your business or estate. It’s always best to take into consideration what your strengths and weaknesses are if you are planning on investing or just coming up with something to do with your extra income. Irrational decisions won’t get you where you want and desire. It’s better to take a slow and rational step when making your next financial move. Or better yet, consult our highly educated team of professional accountants that will surely put you on the right track. Keeping a long-term and effective vision is what will have your company and establishment flourishing endlessly.

It’s not just your investments and finances we manage, but also your reputation that will provide your portfolio with good experience and content. This will help maintain a stable and trustworthy reputation that will have the CRA relying on and never doubting your financial situation, which is absolutely a good thing for the lifespan of your estate. Also, it will increase the value of all your assets, as the reputation and flawless productivity they have will make those assets undeniably desirable. You need to have everything under control from assets, tracking records, expenses, depreciation, liabilities, tax reports, tax filing, and so on. It might seem overwhelming and hard to handle by yourself, but that is why we are here to help. With the right number of accountants and the right level of expertise, our Accounting firm is able to provide you with the best and flawless results no matter what kind of situation you’re facing.

TAX REPORTING FOR ESTATE PLANNING

It’s not the performance of your business or company you should worry about, nor the income your firm makes as well. What you need to worry about is the taxes you need to report on an annual basis for your estate and property you own. It’s your responsibility to keep track of filing the right documents for the tax year at hand, and reporting any capital income, for the firm you own for tax income purposes. It might seem very simple and straightforward, but actually, a lot of businesses tend to forget the importance of tax reporting and filling, which result in crucial consequences. Moreover, you can’t have everything under control without a proper plan or the right steps that keep your business moving in the right direction. Have no fear because we at Tohme Accounting have you covered. Leave all your estate taxes and tax reporting problems to us while you attend to more important things like the operations of your business.

 

What we tend to do is gather all the information we need from your business from, financial reports, bookkeeping documents, records, and other financial and accounting-related transactions, so that we can determine the type of approach that fits your type of business. Of course, we also take into consideration the mission and long-term vision of your establishment for the key to long-term success is maintaining those two aspects. We keep a close eye on what is coming in and going out of the company, and where the money is being distributed and invested. All of those steps and conditions are taken care of when you leave your business safe in our hands. After we have established and managed all your finances in an organized matter, we then devise a plan that will have you avoid any issues with failure to report tax and filing. This will also prevent any double taxation on your estates. By having your tax plan established and ready for implementation, you won’t have to worry about any wrong or incorrect tax filing that might upset the CRA in any way. Your business will be on time with tax filing and you will have full access to your tax records. These necessary steps we take are for your business’ sake and yours as well. Basically, you will have the taxman, or tax collector, smiling and relying on your process as a business owner, estate owner, and investor.

 

Nevertheless, our accounting firm is not only able to prevent these tax issues from happening, but also, we are able to resolve any complications you might face with taxes currently. Leave it to Tohme Accounting to clean up your mess when it comes to your taxes. Nobody wants their business or firm to be audited. So, why don’t you just make the right choice and have a well-experienced accounting firm take over all your worries and help you achieve your desired goals with your business?

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