Life is full of uncertainties. Taxes aren’t one of them. Inadequate tax planning or improper handling of tax issues can result in major financial consequences and restrict your company’s growth. Richter’s tax team performs strategic reviews to help you minimize your taxes, meet compliance requirements and improve your overall tax position.
Our experts can assist with:
No one wants to pay more than they should. We take care of remuneration, tax and asset protection planning discussions; review and optimization of corporate structures and family trusts; income splitting, deductions and exemptions, and corporate and personal tax minimization strategies. We also assess and make recommendations on cost rationalization, opportunity identification and risk management.
We interpret and apply tax legislation relating to Goods and Services Tax (GST), Harmonized Sales Tax (HST), Excise Tax, and other specific sales taxes.
Since every transaction matters, the members of our specialized team help you manage indirect taxes so that you can concentrate on operating your business.
We share your entrepreneurial spirit and know that you’re looking for practical solutions. Our team has developed an efficient and practical series of reference tools that we place at your disposal:
- Tables of rates applicable to expense accounts for SMEs and large corporations
- A map of Canada that shows the applicable sales tax rates in Canada by province and references future changes
- Regular publications that summarize changes and highlight important items for consideration
Our team supports you in your planning of extraordinary, international or complex transactions such as a business acquisition. We help you structure your transactions with an eye to minimizing taxes payable, increasing cash on hand, and ensuring that your internal processes and your contracts are consistent with the desired treatment and protect your company from costly errors. At the same time, your reputation is protected.
We apply a practical and integrated approach to managing indirect taxes and meeting your tax obligations. As a result, your tax compliance is simplified, in terms of both revenues and expenses. In addition to helping you manage your day-to-day transactions, this approach includes the management of audits by tax authorities.
We have developed a unique collaborative approach and tools that facilitate these audits for both your company and tax authorities. We work to foster a shared understanding that saves time and minimizes differences of opinion and assessments requiring opposition procedures.
We help you plan and implement restructuring strategies to be tax efficient, as well as advise on U.S. federal corporate and partnership income tax planning and consulting; federal compliance services for American domestic and multinational entities, and estate and gift tax planning and reporting.
We help you navigate the U.S. tax system. Our full-service U.S. tax group is dedicated to resolving federal and state taxation matters, including:
- Cross-border planning
- Entity selection for expansion
- Compliance services for American citizens residing in Canada and Canadian executives working in the U.S
- Advising Canadians with U.S. investments that may trigger U.S. reporting
- Evaluate your exposure to state-imposed taxes
- Make recommendations regarding compliance with state and local filing requirements
Richter’s U.S. tax team also has access to a network of U.S. and international tax specialists to complement its services.
In the U.S., state authorities are increasingly more aggressive in their attempts to expand their tax base. Some states may impose taxes on non-U.S. (“foreign”) entities and individuals, even those that are not taxable federally under a Treaty. Our U.S. tax team assists in evaluating your exposure to these state taxes. We make recommendations regarding compliance with U.S. state and local filing requirements, with a particular attention on optimizing your U.S. operations. Our state and local tax services include state and local income, franchise, sales tax planning, consulting and tax return preparation.
Our specialized team is your preferred partner for working effectively with government authorities. In order to foster a shared understanding of government rules and the environment of businesses and entrepreneurs, our specialists work closely, at many levels, with federal and provincial government authorities as well as authorities with foreign governments. We improve communication between government authorities and taxpayers, and allow taxpayers to profit from best practices.
Our team participates in the consultations organized by tax authorities and helps identify tax issues. We propose solutions for simplifying your obligations with respect to observation and for improving the services provided by tax authorities.
Government assistance: selecting the most appropriate programs
Since each level of government offers a range of financial assistance programs that are closely linked to government policy, our team can help you identify which programs best meet your needs, and help you make informed choices.
Our firm takes a practical approach and acts as a true tax department that is integrated into your business. Our professionals are your preferred partners for establishing harmonious and constructive relationships with each level of government.
We provide advice and support regarding international expansion and transfer pricing audit guidance. We identify and support the implementation of the most suitable transfer pricing policy, and assist in navigating complex transfer pricing requirements.
Transfer pricing requirements cannot be ignored considering the intricacy of international business, aggressive auditing by tax authorities and the magnitude of financial repercussions including double taxation. Barring compliance obligations, companies have found that transfer pricing can be regarded as an opportunity to structure international operations in a tax-efficient manner. Beyond minimizing tax exposures, it can provide useful insight into the business, increase operational efficiency and optimize global tax liabilities.
Richter’s international tax professionals go beyond providing analysis, drafting reports and making recommendations, we take a practical, proactive and hands-on approach to help you develop and implement an appropriate strategy to ensure compliance, create business value and minimize transfer pricing risks.
Plans take into account business operations, as well as tax implications, to any international structuring. Our team draws on its understanding of your business model to identify the most suitable transfer pricing policy and help implement these recommendations.
Our experience among diverse industries and countries provides the tools necessary to help you navigate complex transfer pricing requirements. Compliance does not end with an analysis. We will assist you in monitoring and adjusting your transfer pricing policy on an ongoing basis.
Many companies are either unaware of the existing federal and provincial Scientific Research and Experimental Development (SR&ED) tax credit programs or are unfamiliar with the criteria and activities that qualify for claims. These are available to all companies that operate in Canada – large or small, family-run or foreign-owned.
Richter’s team of professionals applies its knowledge and expertise in engineering, accounting and tax to facilitate the SR&ED claim process. Renowned for being entrepreneurial in our approach, we find creative solutions and are always looking for ways to strengthen your tax position.
Our familiarity with the various programs, tax laws, general and industry-specific interpretation circulars and CRA processes enables us to work closely with your accounting and technical departments to provide comprehensive service that includes three main steps:
- Identifying the SR&ED activities that would qualify for a tax credit
- Preparing and submitting the technical and financial aspects of the SR&ED claims
- Accompanying and guiding you through CRA audits
In addition, our professionals can train your company’s staff on best practices for documenting future claims.
Meet our expertsThe people behind the expertise.
Carey SingerCPA (Illinois)
David HoganCPA, CMA, MA (Economics)
Lyne GaulinCPA, CA, CPA (Illinois), LL. B.
Alain PérusseD.E.S.S. Fisc.
Diane TsonosLL.B., TEP
Earl FormanCPA, CA
Jacinthe MarquisLL.M. Tax
Jean-François CoutuCPA, CA, LL.M.Fisc.
Jerry WiseCPA, CA, TEP
Michel BabeuCPA, CA, M. Fisc.
Phil NadlerCPA, CA
Robert ChayerM.S. Tax
Scott BinnsCPA, CA
Stéphane MarcassaLL. B., D.E.S.S. Fisc.
Vincent De AngelisCPA, CA
Food for thoughtWhat’s in the news & what you need to know
Upcoming changes for QST and PST.
New QST registration rules will take place on September 1, 2019 for Canadian businesses located outside of Quebec Quebec announced in its 2018-2019 budget the introduction of new QST registration rules for suppliers outside Quebec. As a result, where certain conditions are met, these suppliers (including certain operators of digital platform that act as intermediaries […]Click to read more.
Survey Of Bank Forecasts – April 2019.
BoC turns more dovish as Fed delivers anticipated rhetoric The surveyed banks again were expecting that, with improving global economic conditions and tightening oil supply, the Canadian dollar would enjoy some tailwinds and strengthen. However, this has not been the case as the Bank of Canada (“BoC”) has opted to turn more dovish, recently hinting […]Click to read more.
SR&ED Tax Credits: Elimination of the “Taxable Income” factor.
Included in this year’s federal budget was a change as to what affects the expenditure limit in the Scientific Research and Experimental Development Tax Credit program – otherwise known as SR&ED. The SR&ED tax incentive program’s goal is to encourage Canadian companies to conduct research and development (R&D) and achieve technological advancements in their attempt […]Click to read more.
A holistic approachfocused on you
Whether for business or personal; with one challenge or our full suite of services, Richter’s approach is always strategic, insightful and all-encompassing. Guided by our values and rooted in trust, we’ve helped clients thrive for over 90 years.