What's Included
- Final T1 Return: The deceased's final personal tax return covering income from January 1 to the date of death.
- Rights or Things & Optional Returns: Additional returns that can split income across multiple filings, reducing the overall tax burden on the estate.
- Estate Trust Returns (T3): Trust returns for income earned by the estate after the date of death.
- Deemed Disposition Planning: Analysis of the tax impact from deemed disposition of capital property at death, and strategies to minimize it.
- Clearance Certificate Applications: Application to the CRA confirming all tax obligations have been satisfied, required before final distribution of estate assets.
- Executor & Legal Coordination: Close coordination with the estate executor and legal counsel to ensure all filings align with the overall estate administration.
This service is ideal for
- Executors or estate administrators responsible for filing final returns
- Families dealing with the tax implications of a loved one's passing
- Estates with significant assets, business interests, or complex ownership structures
- Anyone who needs a CPA experienced in estate tax matters
Getting started is straightforward
- Discovery call: We review the situation, the assets involved, and the estate administration timeline with the executor or family.
- Filing strategy: We develop a filing plan that minimizes estate taxes, including optional returns, loss carrybacks, and charitable giving strategies.
- Filing & clearance: All returns are prepared and filed, and we apply for the clearance certificate so estate assets can be distributed.
