Tax services

What tax services does KB Fiscalité offer?

KB Fiscalité inc. organizes its practice into five service groups, tax planning, corporate services, tax returns, estate taxation and consumption taxes. From its office in Vaudreuil-Dorion, the firm serves Vaudreuil-Soulanges, Greater Montreal and clients across Quebec.

Service group	Who it mainly serves
Tax planning	Business owners, incorporated professionals, family businesses
Corporate services	Corporations, professionals looking to incorporate
Tax returns	Corporations, individuals, trusts, non-residents
Death and estate taxation	Liquidators (Quebec’s term for estate executors), heirs, families
Consumption taxes	Businesses registered for GST and QST

What does tax planning include?

Tax planning means structuring your affairs before you act, so that major transactions close at the lowest tax cost the law allows. The firm’s work covers tax consultation, corporate reorganization, intergenerational business transfers, guidance on buying or selling a business, income splitting, tax litigation, estate planning, asset protection and the effective use of a discretionary trust.

Timing matters as much as structure. A sale of qualified small business corporation shares, for instance, is best prepared years in advance if the shareholders are to claim the lifetime capital gains exemption. Likewise, the 21-year rule forces trusts to plan well before the deadline arrives.

What do the corporate services cover?

Corporate services look after the legal life of your corporation, from formation to wind-up. The firm handles incorporation, professional incorporation, drafting the shareholders’ agreement, corporate liquidation, and keeping the minute book complete and current.

These are not mere formalities. An up-to-date minute book and a clear shareholders’ agreement underpin the validity of many tax plans, particularly a reorganization or a sale. Maintaining them continuously is far less painful than reconstructing them under the pressure of a closing.

Who files which tax returns?

KB Fiscalité prepares tax returns for corporations, individuals, trusts and non-residents. A corporation files a federal T2 return and a Quebec CO-17 return each year, due six months after its year-end. The balance of tax owing, however, is due two or three months after year-end, depending on the corporation’s situation.

Individuals must file by April 30, June 15 for the self-employed, although any balance owing is still payable by April 30. Trusts and non-residents carry their own filing obligations with the CRA and Revenu Québec, obligations that are easy to overlook and costly to miss.

How does taxation apply at death?

At death, the law deems the deceased to have disposed of their property, which can trigger tax on gains that were never actually realized. KB Fiscalité prepares the deceased’s final return and the estate’s returns, designs post-mortem planning, and assists the heirs and the liquidator of the estate with their tax obligations.

Tools such as the spousal rollover can defer tax when the conditions are met, but they must be claimed properly in the returns. Sound post-mortem planning also prevents the same income from being taxed twice, once in the corporation and again in the estate.

Which consumption taxes affect your business?

Consumption taxes include the 5% federal GST and the 9.975% Quebec QST, along with the HST that applies in certain provinces. The firm advises businesses on GST and provincial taxes, excise taxes and customs duties, consumption-tax litigation, and audit mandates conducted by Revenu Québec or the CRA.

Registration, collection and input-credit rules shift with your industry and where you sell. A recurring collection error repeats itself on every invoice. Catching it early (or better, preventing it) keeps interest and penalties in check.