Our Services

As a full service tax and accounting firm, McCann & Associates offers a wide array of services.
We combine our advanced knowledge with experience to offer the highest quality of service.

Personal Tax Services

Personal tax planning objectives never change, but because the regulatory environment is in constant flux, your strategy will need adjusting. Our team at McCann & Associates has vast experience with personal tax preparation. We work to understand your situation and provide you with a plan that considers both your short and long-term goals.

Areas of Expertise

  • Income tax preparation and tax planning for individuals
  • Income tax preparation and tax planning for self-employed individuals
  • GST/HST tax filings
  • Employees with deductible employment expenses
  • Trust returns & Terminal tax filings for Estates (T3 returns & clearance certificates)
  • Taxation of investment and rental income
  • Taxation of crypto-currency trading
  • Non resident tax filings (Section 115 & Section 216 returns) & planning
  • Tax planning for tax departure from Canada and interprovincial residency issues
  • Voluntary disclosures
  • Dispositions of real estate
  • Foreign asset verification filings (T1135 & T1134)
  • Tax waivers for non residents (Regulation 102)
  • Tax research
  • Tax audit representation
  • Family trust tax return preparation and tax planning
Corporate Tax Services

Tax compliance and reporting is becoming a more complex, time intensive and source of frustration for business owners. The team at McCann & Associates LLP is here to help ensure you are compliant with the tax regulations while offering strategies to minimize your tax liability. Our professionals have two goals: recommend appropriate tax-planning strategies to reduce taxes, and to ensure that our team has the experience and knowledge to prepare accurate tax filings.

 

Areas of Expertise

  • Income tax preparation for corporations
  • Tax planning for corporations
  • Notice to Reader preparation
  • GST/HST tax filings
  • T4 & T5 Tax slip preparation
  • Non resident tax filings & planning
  • Corporate reorganizations
  • Acquisitions & mergers
  • Taxation of corporate owned investment accounts
  • Voluntary disclosures
  • Foreign asset verification filings (T1135 & T1134)
  • Tax waivers for non residents (Regulation 105)
  • Tax research
  • Tax audit representation
  • Digital media & film tax credits
  • Preparation of tax filings and planning for partnerships (T5013)
GST/HST Tax Services and Rebates

As your business expands across different provinces and countries, the GST/HST obligations that you may face are becoming increasingly complicated. If it is not properly managed, every invoice produced or received may result in a potential overpayment or exposure of sales tax. At McCann & Associates LLP, members of our team have completed the CPA Canada GST/HST In-Depth tax course, they have the knowledge and expertise to advise you on the GST/HST transactions your organization is facing and assist you file your returns.

Did you buy a newly constructed property? Did you know that you could recover a portion of the GST/HST you paid on the purchase? Whether you purchased the property as your principal residence or a rental property, you may be eligible to recover a portion of the sales tax you paid.

Have you completed a substantial renovation on your home? If you renovated over 90% of your house, you may be eligible for the GST/HST new housing rebate. This would allow you to recover a portion of the GST/HST that was paid during the construction.

 

Our services include, but are not limited to:

  • Filing of your GST/HST return
  • Consulting on sales tax implications of your transactions
  • GST/HST New Housing Rebate for newly constructed buildings
  • GST/HST New Housing Rebate for substantially renovated properties
  • GST/HST new residential rental property rebate
  • GST/HST compliance reviews
  • GST/HST Canada Revenue Agency audit representation
  • Excise Tax Act research concerning appropriate filing positions
US & Cross Border Taxation

Multi-jurisdictional tax and reporting requirements are becoming ever more prevalent as more Canadians are working internationally and foreign individuals and corporations are performing work in Canada. We have seen an explosive growth in this area of tax and we have grown alongside it by preparing hundreds of multi-jurisdictional returns in Canada and the United States each year.

We have the experience and knowledge to orchestrate your specific cross border tax filing requirements. Our deep understanding allows us to determine your tax residency in Canada and the United States. From there, we can identify and prepare your specific personal tax filings as required to the Internal Revenue Service (IRS), any applicable states, and Canada Revenue Agency (CRA). We can also aid in nonresident Canadian tax filings required by American corporations completing work in Canada.

We are able to electronically file your United States Federal and State personal income tax returns and FinCEN Report 114 (FBAR) forms to the IRS.

 

Other areas relating to cross border taxation we can assist you with are:

  • Preparation of US Federal & State personal income tax returns
  • United States real estate disposition tax filings
  • Streamlined Amnesty applications to the IRS
  • Interpretation of the United States-Canada Tax Convention (Treaty)
  • Preparation of Tax Treaty based position to both the IRS and CRA
  • Expatriation United States taxation issues for former citizens & long-term residents
  • United States estate & gift tax planning
  • Preparation of United States foreign bank & financial account filings (FinCEN Report 114 (FBAR))
  • Non-resident Canadian tax filings required by American corporations completing work in Canada
  • Multi-jurisdictional professional services
  • Preparation of forms 3520 and 3520A relating to the ownership of a foreign trust

The scope of our expertise extends beyond our borders. Our firm is a member of FY International, which allows us to draw upon the resources of over 40 professional offices worldwide. More information about FY International can be found at https://www.fyinternational.com/.

Start-up Businesses

As an entrepreneur looking to start a new business, your focus needs to be running your operations. However, there is a significant amount of financial aspects which need to be addressed. At McCann & Associates LLP, we can assist you in making sure your business is in compliance with tax and regulatory filings while providing professional services to help your business grow. Our office has experienced staff who will be able to provide advice onyour organization while assisting you meet your financial objectives.

If you are an international organization looking to expand into the Canadian market, we are able to assist you by ensuring that there is compliance with tax and regulatory filings while providing recommendations. Our professional staff are fluent in many languages (Greek, Spanish & Vietnamese) making communication easier with your employer in other countries.

 

Areas relating to startup businesses we offer include, but are not limited to:

  • Consulting on business structure
  • Business number and account registration
  • Setting up legal & banking relationships
  • Accounting software recommendation
  • Financial projections
  • Consulting on financial internal controls
  • Business plan analysis
  • Cross border tax analysis
  • GST/HST, corporate tax & payroll compliance
  • Accounting & controllership services

Book your appointment today

McCann and Associates LLP

1 St Clair West, Suite 402
Toronto, Ontario M4V 1K6
Tel: (647) 508-5555
Fax: (647) 508-5556

Book your appointment today

McCann and Associates LLP

1 St Clair West, Suite 402
Toronto, Ontario M4V 1K6
Tel: (647) 508-5555
Fax: (647) 508-5556