There are many ways to reduce your taxes. Some are perfectly legal, such a incorporating your business or making contributions to a charity of your choice. Some ways of reducing taxes are highly illegal. Trying to reduce your tax liability, if not properly done, can raise red flags and cause audits, which will cost you time, money, and a small piece of your sanity as you are forced to rifle through your receipts and papers long forgotten or lost.
In addition to the headache of being audited, tax laws are complex and ever-changing. These laws also differ and vary, depending upon whether an individual or corporation is filing. If you are an individual of high net worth or are a business owner looking to reorganize in order to reduce your tax liability, consider meeting with Aaron Grinhaus, business lawyer at Grinhaus Law Firm in Toronto, for a free consultation. He can help you find the right combination of incorporating your Ontario business, setting up a holding company for investments or utilizing a family trust, which can result in substantially reducing your tax liability by thousands or even tens of thousands of dollars or more.
Grinhaus Law Firm is well-versed in tax reduction and structuring for your business, as well as tax law and tax/business consulting. Contact us today for a free consultation, and learn how we can help you spend less money on taxes and more money on growing your business.
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