Tax Preparations & Financial Services

Professional Services to Help You Maximize Your Income Tax Return and Benefits

As financial service professionals, our first priority is getting to know you. The better we understand your personal financial situation and your goals, the better service and tax planning strategies we can provide. Our personal service helps you reach your objectives quickly and in the most tax-efficient manner.

  • Free Consultation

    Specializing in Filing Late Tax Returns

    Minimize interest and late filing penalties. The current penalty is 5% of your 2010 balance owing, plus 1% of your balance for each month your return is late (maximum 12 months). Late filing penalties for previous years may be 10% of your 2010 balance owing, plus additional penalties.

  • T1 General

    T1 General Income Tax & Benefit Preparation

    Maximize your T1 General Income Tax and Benefit Package. Our 13 years of experience working for the Canada Revenue Agency ensures that you receive the income tax benefits to which you are legally entitled under the Income Tax Act.

  • T2 Corporation

    T2 Corporation & Small Business Income Tax Return

    Small businesses and corporations often have many complex decisions that have significant tax consequences. It is important to ensure that the decisions being made now are suitable for you both in the short- and long-term.

  • Income Splitting

    Pension Income Splitting

    If you are a pensioner, you may be able to lower your overall income tax burden by using pension income splitting strategies with your spouse or common-law partner if you meet all of the requirements.

  • Employment and Commission Expenses

    Our thorough analysis will ensure that you maximize appropriately all employment and commission expenses. Employees may be able to deduct work-space-in-home expenses such as Allowed expenses include heat, electricity, light bulbs, cleaning materials, maintenance, etc.

  • Rental Property

    Capital Gains & Rental Property

    Capital gains are the second least taxed type of income after the principal residence tax-free exemption in Canada. Effective tax planning will help you to maximize your tax-free exemptions, while using fully the preferential tax treatment of capital gains.

  • Disability Claims

    Canada Pension Plan
    Disability Benefits & Claims

    Changes to the Canada Pension Plan will be phased in gradually between 2011 and 2016, with the first major change occurring in January 2011 for people retiring after age 65. Please call us to find out how these changes may affect you.

  • Voluntary Disclosure

    Voluntary Disclosure

    The Voluntary Disclosures Program (VDP) allows taxpayers to come forward and correct inaccurate or incomplete information or to disclose information they have not reported during previous dealings with the Canada Revenue Agency, without penalty or prosecution.

  • Filing

    Late Filing & EFILE

    We prepare all eligible returns so that you can participate in the EFILE program, which will allow you to get your tax return processed more quickly. We will prepare late filings promptly to help you minimize or avoid late-filing penalty, which are 5 percent of the balance owing and an additional 1 percent of the balance owing for each full month that your return is late, to a maximum of 12 months.

Simpson Financial Services

First and foremost, our team has a wide wealth of experience working for the Canada Revenue Agency (CRA) that we bring to our clients every day. We strive to offer the most personal and professional service available in Kitchener-Waterloo. We specialize in preparing income tax returns and financial planning. When you need deep, relevant experience with the Canada Revenue Agency (CRA) to ensure that your family's finances are protected, you need to give us the opportunity to help you. Please feel welcome to call us at 519-744-9928.