Accountant in Woodbridge
Tax help for Woodbridge families and the companies they own
Family businesses, holding companies and estates, handled by a Woodbridge CPA who works on every file himself, in English or in Italian.
Woodbridge is where Occhiuto CPA is based. Many businesses here were built by one generation and are now run, or about to be inherited, by the next. That is where the tax gets interesting: who owns the shares, how the company pays the family, and what happens when a parent dies still holding the business.
These are decisions with long deadlines and expensive mistakes. They are better made early, with one CPA who knows the whole family's file.
Where family businesses need a tax plan
An estate freeze locks today's value in the parents' hands and lets future growth go to the next generation, often through a family trust or holding company. Done while everyone is alive, it makes the eventual estate smaller and simpler.
Estate freezes and estate tax →The shares are taxed on death, and taking the money out of the company afterward can tax the same value again. Post-mortem planning prevents that, but its deadlines start on the date of death.
Terminal returns and T3s →The same salary-and-dividend mix used for years, money piling up in the company, and family members on payroll without a clear plan. Worth rerunning with today's numbers and the rules on income splitting.
Salary vs. dividends →Working alongside your lawyer
Wills, share reorganizations and trust deeds are legal documents, prepared by your lawyer. The tax design behind them, the valuations they depend on and the returns that follow are the accountant's side. On a family business, the two need to be planned together. How I work with estate lawyers →
Common questions
Yes. Robert speaks Italian, and many families prefer to go through an estate or succession plan in the language they speak at home. Returns and CRA correspondence stay in English.
His shares are deemed sold at fair market value on death, which is reported on his final return. How the money then comes out of the company decides whether the family pays tax once or twice. The time to plan is before, but there are still options after.
No. It is worth looking at whenever a company is expected to keep growing and the owners want that growth to belong to their children. The legal and valuation costs have to be weighed against the tax saved, and that is part of the first conversation.
The practice is in Woodbridge, Vaughan, and serves clients across the GTA. Start with a free 20-minute call, or send a message.
Book a free consultation, in English or Italian. I will tell you what needs deciding first and what it is likely to cost.
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