As tax season draws to a close, many individuals and businesses face the last-minute decision between using tax software or consulting with a tax preparation professional. While tax software can be convenient, there are significant advantages to working with a professional who can make a substantial difference in your financial outcomes. Professional Insight and
This tax season, many face critical decisions regarding how to manage their tax preparations. Choosing a local accounting firm over large, American-owned chains offers several distinct advantages that can significantly benefit both your financial health and your community. Here’s a deeper look at why a local firm might be your best choice: Personalized Service
It’s the least wonderful time of the year – tax time! That seems to be most people’s feelings towards getting through their annual tax return. In addition, there is usually some concern about what is tax relevant and what is not, and exactly what paperwork is needed. Taken together, this usually results in a higher
Hello everyone! It’s Aaron, owner of Keenans. I’ve decided to tell this story to give some personal insight into the world of taxes and accounting. A recent situation brought to light the question of who is responsible for the timing of the year-end appointment. The situation was a former client of mine had a mid-six
The season of giving offers more than just a chance to spread goodwill—it can also yield significant tax benefits. As we approach year-end, understanding how to leverage charitable donations can enhance both your fiscal health and the well-being of others. Understanding Charitable Tax Deductions Charitable donations can reduce your taxable income, provided they are made
We’re thrilled to announce a significant milestone at Keenans Accounting Service! Aaron Fecht, a distinguished corporate tax specialist with over nine years of experience at Farm Business Consultants Inc., has acquired our firm. This transition marks a new chapter in our journey to empower businesses in Central Ontario with top-tier accounting expertise. A Warm
As the vibrant colours of fall paint Central Ontario, it’s also time for businesses and individuals to focus on year-end tax planning. October is the perfect month to begin preparing your finances to minimize liabilities and maximize returns. This guide will provide you with essential tips to effectively navigate the complexities of the Canadian tax
As the leaves begin to change in Central Ontario, businesses are gearing up for the final push of the year. September marks a perfect time to streamline operations, ensuring that your business not only finishes the year strong but also lays a solid groundwork for the next. Whether you’re dusting off the summer slowdown or
Our Summer Tax Planning Series wraps up with a focus on early preparation for year-end tax strategies. Effective planning can significantly influence your financial outcomes and reduce stress during tax season. Benefits of Early Tax Planning Starting your tax planning early allows for better financial decisions, such as deferring income or accelerating deductions to optimize
Our Summer Tax Planning Series continues with a focus on income splitting, a valuable tax planning strategy for families and partnerships in Central Ontario. Understanding how to distribute income among family members or business partners can significantly reduce your overall tax burden. The Basics of Income Splitting Income splitting involves transferring a portion of income