(604)-XXX-XXXX

 

Tax Filings

What do you need to report to the government? A personal income tax return comes to mind for many Canadians. However, depending on your specific situation you may have numerous tax filing requirements, such as:

  • Personal Tax Return - T1 General Income Tax and Benefit Return

  • Tax-free Savings Account (TFSA) Return – RC243

  • Corporate Tax Return - T2 Corporate Income Tax Return

  • Trust Tax Return - T3 Trust Income Tax and Information Return

  • Partnership Return – T5013-FIN Partnership Financial Return and slips

Information Returns:

  • Employment Return - T4 Statement of Remuneration Paid slips and summary

  • Other Income Return - T4A Statement of Pension, Retirement, Annuity, and Other Income slips and summary

  • Investment Income Return - T5 Return of Investment Income, T5 slips and summary

  • Contractor Payment Return - T5018 Statement of Contract Payments slips and summary

  • Foreign Income Return – T1135 Foreign Income Verification Statement

  • Goods & Services Tax (GST) Return – GST34 or GST62

  • Provincial Sales Tax (PST) Return – FIN400

As a Certified Financial Planner professional, Chartered Professional Accountant, Chartered Accountant, and Chartered Life Underwriter, Michael Deepwell has a wealth of knowledge and experience in preparing tax filings.

Lamp Financial prepares tax returns and filings for individuals, families, business owners, and partners, so you can comply with current laws and regulations.

 

We are accepting new clients - contact us today to find out what you are required to report to the government.

 

Retirement Projections

Can you retire when you decide? Do you have enough to last your lifetime?

For business owners, can you meet business expenses for the next 12 months? Can you sustain the business in the off-season?

Many Canadians want to plan ahead, but do have the mathematical tools and financial knowledge to make calculations. As a Certified Financial Planner professional, Chartered Professional Accountant, Chartered Accountant, and Chartered Life Underwriter, Michael Deepwell brings a wealth of knowledge and experience to making financial projections.

 

The financial projections integrate taxes, government pensions, planned future events, estate plans, and debt repayments. For business owners, the projections integrate taxes, payroll taxes, planned future events, debt repayments, and capital purchases.

 

Contact Us for a sample projection.

 

End of Life Planning

Will your wishes be met? Are you overlooking any issues in the distribution of your assets upon death?

Many Canadians fail to prepare for distribution of their assets upon death.

I review your instructions to double-check that your wishes are met. I provide alternatives to meet your goals. I do not prepare legal documents – lawyers would prepare the documents.

 

Financial Assessment

Have you received an integrated and holistic financial assessment from a financial professional lately?

Many Canadians have a mixed basket of financial products that have been sold to you over the years:

  • investments with no clear mandate, aside from increasing in value

  • life insurance policy with no correspondence to the need

  • registered retirement savings plan (RRSP) with no forethought of integrating retirement planning and tax implications

  • will that may be outdated and doesn’t meet your intentions

  • spending and cash management that is reactive, rather than proactive

Your financial checkup will:

  • review your financial situation (or particular components) to identify specific concerns

  • provide options and alternatives to address the concerns

  • present legal, tax, and financial implications of alternatives

  • integrate the various components of your finances into a cohesive plan, and

  • help implement desired alternatives

As an advice-only financial firm, we act as an umbrella to integrate every area of your finances. Your investment adviser, tax preparer, and lawyer keep doing their work – we simply bring together the various components of your finances as a checkup to achieve your financial goals.

The check up can be of financial situations for individuals, families, trusts, or small businesses - sole proprietorships or corporations.

Receive your personal financial check-up - contact us today.

 

Comprehensive Financial Plans

Looking for a complete review of your personal circumstances? I use a comprehensive financial framework that brings together every aspect of your personal and professional finances. This framework is goal driven and aligns your decisions with how you want your money to work.

A comprehensive framework consists of:

  • Sources of Income: alternatives for increasing sources of income and the tax treatment of different kinds of income (employment, interest, dividends, capital gains, return of capital), and small businesses and partnerships on intra-corporate transactions.

  • Savings & Investments: alternatives for how to structure your investment holdings, and the risks, rewards, and tax implications of those holdings, including registered accounts (RRSPs, TFSAs, LIRAs, etc), real estate ownership, and foreign investment holdings (foreign securities and ownership of foreign real estate properties).

  • Retirement: alternatives for government pensions, employer pensions, and use of personal funds.

  • Asset & Income Protection: assessing need for life insurance, disability insurance, critical illness insurance, contents insurance, property insurance, and other insurance coverage. I do not promote or sell any insurance policies or products; I provide alternatives to meet your goals.

  • End of Life Planning: review your instructions upon death or a substitute decision maker for financial, legal, property, and personal care decisions, to ensure your wishes are met. We provide alternatives to meet your goals. We do not prepare these legal documents.

  • Spending Plan: assess your current spending plan and provide alternatives to achieve your goals. We provide coaching on spending and smart uses of credit cards.

  • Dependents: provide alternatives for providing care for elderly parents and children or adopted children.

  • Liabilities & Debt: assess and provide alternatives to manage and reduce debts (mortgage, credit card balances, lines of credit, investment loans, etc). We do not believe all debt is bad, but coach on reducing and avoiding “bad debt”. Talk to us if you would like an explanation. We educate you on the risks and rewards of investment loans and using “leveraged strategies” (borrowing to invest).

  • Taxes: prepare personal, partnership, and corporate tax returns and provide alternatives to minimizing taxes going forward, while remaining within the rules.

  • Emergency Fund: provide alternatives for having accessible and sufficient funds in case of an emergency

 

Workshops

Learn about finances in an engaging and interactive manner. Workshops can be as small as 10 people on topics such as:

  • understanding financial strategies and products

  • planning for retirement

  • understanding your income tax return

  • protecting what's important to you

  • managing debts

  • understanding investments and investment fees

  • communicating your wishes when you are unable to

  • what happens (financially) upon death

  • upcoming changes in the financial world

  • managing your spending

  • understanding the Canadian financial system

  • setting up your business

  • and more

Phone: (604)-250-8062

Fax: (866)-740-5710

Lamp Financial Inc.

838 West Hastings St, Suite 700

Vancouver, BC, V6C 0A6