Professional Tax & Accounting Services
Kevin Dunn has been serving individual
and business clients in Peterborough and the Central Ontario region for
over twenty
years. Maybe it's time you found out why. We work with you to minimize your tax burden and maximize your profits.
Although we are centred in Peterborough, we have clients in many other
areas including Belleville, Hamilton, Ottawa, Toronto, Markham, and Vancouver. We make effective use of technology
with a human touch.
Our business clients consist of lawyers, veterinarians, real estate agents and brokers,
IT consultants, home builders and others in the construction industry, electricians, insurance brokers,
investment dealers, and many others. Visit our Business Services
page for more information on how we can help your business succeed.
Our personal tax clientele is growing and consists of many self-employed persons, those with investment portfolios,
people with rental properties, retiree's and many others. Visit our Personal Tax
page for more information on how we can assist you with your income tax issues.
Perhaps your financial situation has changed and has created
some questions in your mind. Perhaps you're opening a new business and
need some guidance with the many questions of self-employment. Maybe
you're getting financial results right now but don't really understand
what the numbers mean or where they're leading you. Or perhaps you've
got
some issues with Canada Revenue Agency, also known as "your silent
partner".
Whatever questions or challenges you may have, we can provide you with sensible
options in tune with your financial and non-financial goals.
Oh yes. We'll also do your tax returns or financial
statements!
Email
us for more information or to arrange a free initial
consultation.
Year-End Tax Planning
December 31, 2011 is coming fast! Now is the time to consider some year-end tax planning tips. You're invited to download our
more detailed year-end tax planning guide or call/email us for more information. Here are a few quick tips for your year-end tax planning:
Canada Pension Plan - The CPP rules will change on January 1, 2012 for anyone 60 to 70
who is collecting CPP retirement benefits and earning employment income. In years before 2012, you did not have to pay CPP premiums
if you were collecting CPP retirement benefits. As of January 1, 2012, employees who are age 60 to 65 will have to pay CPP premiums on their
employment income. Those employees who are 65 to 70 can file an election (CPT-30) with their employer and CRA electing not to pay CPP
premiums on their employment income. To be effective as of January 1, 2012, this election should be filed with your employer in December
2011.
RRSP's - Take a look at your income for 2011 and ask whether or how much of an RRSP you should be contributing. You can refer to our handy tax rate guide to see what your marginal tax rate might be for 2011.
Capital Gains/Losses - Remember that you pay tax on your NET capital gains for the year. Therefore, you may find it useful
to offset some of you capital gains by triggering capital losses before the end of 2011.
Charitable Donations - Your charitable donations must be made by December 31 to claim the donation on your 2011 tax return.
Medical Expenses - You can only claim medical expenses in excess of 3% of your net income (or your spouse's net income). Sometimes it makes sense to pay for some medical expenses by the end of the year to maximize the medical expenses paid in the year. Remember, though, that you can claim medical expenses paid in any twelve month period that ends in the year (as long as you haven't claimed those expenses on a prior tax return!).
