Gary Booth CA Professional Corp. // 416-626-2727
Did you know that with the right tax planning 1000's of dollars can be saved on
final and estate returns.
We can prepare any or all of the following:
- Final return
- Return for rights and things
- Testamentary trust return
- Obtain clearance Certificate
- Calculate capital gains on deemed disposition
- Tax Planning to minimize tax to beneficiaries, deceased person and trust
We can act as a trustee or executor on any estate or death of taxpayer Leave
all the problem to us. We will file the returns within the prescribed time limits
and minimise all taxes.
Tax Tips & FAQ
Q: Can I deduct funeral expenses, probate fees, or fees to administer the estate?
A : No. These are personal expenses and cannot be deducted.
Q: Who reports a death benefit?
A: That depends on who received the death benefit. A death benefit is income of either the estate or the beneficiary that receives it.
Q: Who reports amounts an employer pays for vacation and unused sick leave?
A: Vacation pay is income of the deceased person and can be reported on a return for rights or things. Payment for unused sick leave is considered a death benefit and is income of the estate or beneficiary that receives it.
Q: If the deceased person was paying tax by installments, do I have to continue making those installment payments?
A: No. The only installments required are those that were due before the date of death but not paid.
Gary Booth CA Professional Corp.
555 Burnhamthorpe Road, Suite 406
E-mail us: firstname.lastname@example.org