Can we help you the way we assisted Jeff and Mary get back over $13,700.00 and Valerie’s estate more than $18,600.00?
Here are their stories
Jeff and Mary
Jeff and Mary decided to sell their condo and move to a retirement residence. They called Fred Bowie to discuss their income needs and wanted to make sure they were making a sound financial decision.
Whenever I get a request like this, my first question is about income tax, not investments, not rates of return, or about the stock market’s ups and downs.
Often we can increase a retiree’s income simply by reviewing their past income tax returns. It was no different with Jeff and Mary. I immediately noticed an Income Tax Benefit they had not taken advantage of for several years.
Our in-house account, Tracy, went to work, refiled five years of tax returns, and recovered, to Jeff and Mary’s delight, over $13,600.00. We are now going back another five years. Jeff and Mary can expect at least another $10,000.00 for over $20,000.00 of benefits plus the annual increased income going forward!
Every year we prepare many Final Estate Income Tax and T3 Trust Returns. In addition, at our office, we have all earned the Certified Executor Advisor (CEA) designation.
Valerie’s story begins with her death.
The Estate Trustee (executor) approached our office to complete and file Valerie’s final income tax and T3 Trust returns.
Tracy, our accountant, asked some probing questions about Valerie, reviewed a couple of her previous returns, and questioned the Estate Trustee about an income tax benefit to which Valerie seemed to be entitled but did not apply to her income tax return.
As a result of the review, Tracy was able to refile past returns and reclaim over $18,700.00 of income tax for the benefit of Valerie’s estate rather than the Canada Revenue Agency. The Estate Trustee and heirs appreciated the extra steps that Tracy took!
Don’t ignore the benefits of an Income Tax Review.
Call our office at (613) 416-2020, ask for Tracy or email her at Tracy@BowieCanHelp.com
