Accounting Services
Through Kerr Financial Consultants Inc (KFC) in Quebec and Kerr Financial Professional Corporation (KFP) in Ontario, we provide accounting and corporate tax services tailored to meet the unique needs of holding companies, trusts, and private charitable foundations. Our expert teams through KFC and KFP handle bookkeeping, compilation of financial statements and preparation of tax returns and look for tax planning opportunities to ensure your financial entities are well-managed and tax efficient.
Whether you’re managing a corporate structure, establishing a trust, or administering a family foundation, we’re here to help you navigate the complexities and meet your financial goals with confidence and clarity.
Accounting Services
Accounting Services
Through Kerr Financial Consultants Inc (KFC) in Quebec and Kerr Financial Professional Corporation (KFP) in Ontario, we provide accounting and corporate tax services tailored to meet the unique needs of holding companies, trusts, and private charitable foundations. Our expert teams through KFC and KFP handle bookkeeping, compilation of financial statements and preparation of tax returns and look for tax planning opportunities to ensure your financial entities are well-managed and tax efficient.
Whether you’re managing a corporate structure, establishing a trust, or administering a family foundation, we’re here to help you navigate the complexities and meet your financial goals with confidence and clarity.
Accounting & Corporate Tax Services for Holding Companies
Through KFC and KFP, we take care of the services required to maintain your holding company(ies) and manage corporate income taxes, including:
- 1Bookkeeping, electronic data transfer, financial statement preparation and corporate tax return preparation
- 2Tax estimates and managing corporate tax instalments
- 3Preparation of annual shareholder and director resolutions, and annual filings
- 4Preparation of T5 summaries and supplementary forms for taxable dividends and capital dividend elections for non-taxable dividends paid out of the company’s capital dividend account
- 5Preparation of T4 summaries and supplementary forms for annual salary/bonus or directors fees paid to corporate employees
- 6Tax planning advice looking at the most tax effective way to draw funds from the company, consideration of reorganizations or freezes that may be beneficial given your personal and corporate tax goals, recover refundable income taxes, split taxable income with family members and maximize tax deductions for the company.
Trust Administration Services
Through KFC and KFP, we take care of the services required to maintain inter-vivos and testamentary trusts, including:
- 1Designing and planning appropriate uses for trusts, including legal tax minimization
- 2Bookkeeping, financial statement preparation and trust tax return preparation
- 3Tax estimates and managing trust tax instalments
- 4Preparation of annual trustee resolutions
- 5Preparation of T3 summary and supplementary slips for distributions of taxable income to beneficiaries
- 6Annual trust tax planning to maximize the benefit of the trust in the family’s overall financial structure and to integrate the trust tax profile with that of each family member
Charitable Foundation Administration Services
If you have a private charitable foundation or if we have identified that this would be beneficial to your family in our planning process, Kerr Financial is well positioned to help you with the registration and annual administration relating to maintaining your charitable status. In this regard, our services can include:
- 1Facilitating family decision making around the establishment of the foundation including coordination with legal professionals
- 2Registration of the foundation with Canada Revenue Agency (and Revenue Quebec if applicable)
- 3Facilitating family work around the mission and objectives of the foundation tying back to family values
- 4Monitoring the foundation’s disbursement quota
- 5Preparing charitable donation receipts for funds received by the foundation
- 6Administration of payment of charitable grants
- 7Bookkeeping and preparation of annual financial statements and charity returns (T3010)
- 8Preparation of annual resolutions
- 9Support and preparation for family foundation meetings as agreed with the family
* Ontario accounting and tax client services are prepared by Kerr Financial Professional Corporation
