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The saying goes, the only two things guaranteed in life are “death” and “taxes.” You cannot do anything about the former, but taxes upon death can be reduced by proactive. There are various tax strategies you can take advantage of to lower the income tax triggered upon death. The less the tax, the greater the inheritance available to your heirs. You will gain peace of mind by undertaking some planning steps to make it easier for those who are left to deal with your passing, and, even though you are gone, they will thank you for it.

planningIf you avoid planning for your estate, you may leave a significant income tax liability. To save your family the heartbreaking trouble of dealing with unanswered questions arising from your death, you should act now while you have time to think about the options and put the plan into place.

When an individual passes away, their executor must file a T3 tax return for the trust. A testamentary trust is created due to the death of an individual. The terms will be established by either the individual’s will or by a court order.

Correctly filing a T3 tax return can be intimidating. Helping clients correctly file required returns is one of the many services offered at A4 Tax & Accounting.

Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.

Call us today at 416-243-2096 or send us an email to arrange a consultation. We can guide you through the steps to ensure your estate is prepared ahead of time.

Mission Statement

Our mission at A4 Tax & Accounting is to provide high quality and affordable accounting and tax services, while being responsive to our clients' needs

Vision Statement

Our vision at A4 Tax & Accounting is to be known in the business and residential community as an accounting firm that provides high quality service, and to become the number one choice of our clients

Our Contact Details

Mailing Address

A4 Tax & Accounting Professional Corporation
Chartered Professional Accountant
1735 Kipling Ave, Suite A2
Toronto, ON 
M9R 2Y8

Office Hours

Monday to Friday: 10 am to 6 pm
Saturday & Sunday: Closed

Phone: 416-243-2096

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