Preparing Tax Returns for Deceased Person in Toronto (416-626-2727) // M22
Preparing Tax Returns for Deceased Person in Toronto (416-626-2727) // M22 http://www.deceased-tax-returns-canada.com Did you know that with the right tax planning 1000's of dollars can be saved on final and estate returns. Get professional help to prepare and save taxes. We have the answers. 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. Legal Representative, Executor , Trustee If you are an executor or administrator. You are the legal representative of a deceased person. Executor - This is someone a will names to act as the legal representative to handle a deceased's estate. Administrator - There may not be a will or will may not name an executor. In this case court will appoint. This is often spouse, partner or next of kin or accountant. Important - As a legal representative you may wish to appoint an authorized representative to deal with CRA for tax matters on your behalf. You may do so by completing form T1013 authorize or canceling a representative. We would be pleased to act as your representative with CRA. Phone us and we can help. We will also act as an executor if needed. Legal Responsibilities What are your responsibilities as a representative? - File all required return for the deceased (There can be numerous returns to file) - Pay all taxes owing - Let beneficiaries know which of the amounts they receive from the estate are taxable. Returns to file can include: - Final return in year of death - Any prior year returns not filed - Trust return for income estate earned after death Important: As a legal representative you could be liable for any amount the deceased owes if property under your control is distributed before taxes are paid. As a legal representative you could be liable for any amount the deceased owes if property under your control is distributed before taxes are paid. Gary Booth CA Professional Corp. #406 - 555 Burnhamthorpe Rd. Toronto, On | M9C 2Y3 Tel: 416-626-2727 | Fax: 416-621-7136 E-mail: deceasedreturns@garybooth.com
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