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Feature Story: Are You Feeling Stressed As It’s Tax Season?
FEATURE STORY By Dave Hall Be Prepared As Tax Season Has Arrived
With Canada’s tax-filing deadline just around the corner, finding a qualified tax professional will have a major impact on tax liabilities and may mean the difference between owing money at the end of April or waiting for your refund to roll in.
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Of course, tax liabilities can be mitigated by making prudent financial decisions, where possible, throughout the year.
And the impact of the various federal government funding programs, including the Canada Recovery Benefit (CRB) which replaced the Canada Emergency Response Benefit (CERB), will be felt once again by those who collected such benefits as a result of reduced income because of various pandemic restrictions.
Beginning in September 2020, the CRB payments amounted to $1,000 every two weeks, but were later cut back to $600 and they have since been eliminated entirely.
According to the federal government, more than 627,000 Canadians relied on CRB payments to help replace the income lost as a result of losing their employment or having their hours
Pictured is the income tax package for the 2021 tax-filing season. The tax-filing deadline for most individuals is April 30, 2022. Photo courtesy of Canada Revenue Agency. Drowning in receipts and pulling your hair out trying to get your 2021 taxes in order? Then it’s time to contact a local tax professional to help fill out your personal income tax return!
severely curtailed by governmentimposed restrictions.
“It was really helpful at a time when people needed it most,” Garant believes.
While tax season is rarely a time to celebrate, utilizing the skills of an experienced tax accountant or professional can mitigate liabilities, not only this year, but into the future as well.
Since income tax returns are considered an essential service, tax practitioners have been able to remain open during the two-year-old pandemic.
Many switched to a drop-off system, others handled client returns online and others booked appointments with all safety measures in place, including masks and plexiglass shields between desks.
Pandemic or no pandemic, nothing stops the government from collecting taxes right?
So let’s introduce you now to a small cross-section of tax practitioners across our region who can assist you with filing your personal income tax returns before the calendar hits April 30.
Willson Income Tax
Founder Barbara Willson launched Willson Income Tax in 1960 after she was denied an opportunity to work with the public at her job with Revenue Canada, as it was then called, because she was pregnant with her son Mike.
“Those were the days when you’d have to work behind the scenes and there were no maternity leave provisions,” Mike explains. “My mom and dad were big baseball fans, so they decided my mom would start doing tax returns and they’d spend the money on Detroit Tigers tickets.”
Mike grew up in the business, became a partner in 1987, and took over completely when his mom, who had continued to work in the family firm beyond a normal retirement age, passed away 10 years ago.
Willson Income Tax in LaSalle offers year-round service by its friendly staff members, from left: Nancy Varacalli, Office Assistant; Paulette Vermette, Tax Consultant; Jennifer Willson, Office Manager and Mike Willson, Owner. Photo by Rod Denis.
Willson Income Tax specializes in both Canadian and cross-border income tax returns and counts many Windsor-based nurses who work in Detroit hospitals among their clients.
“Filing cross-border returns is not exactly rocket science,” says Mike, smiling. “But you could need four returns — city, county, state and federal — which can be complicated. But, like any other job, it can seem complicated to an outsider, but it’s not that bad when you have been doing it for a while.”
As an essential service, the business has been able to stay open year-round throughout the pandemic, albeit with limited appointments. Instead, clients have been leaving their tax materials in a drop box at the office and then picking them up again after their returns have been filed.
According to Mike there are no requirements for annual courses, but he nevertheless keeps on top of income tax act changes on both sides of the border through industry updates and newsletters.
“There’s always something changing, it seems, so you have to stay current,” he stresses.
The firm focuses on personal income tax issues and according to Mike, there’s been no shortage of clients.
“I know what we are good at and we stick to it,” he states.
Mike, who has a business degree from the University of Windsor, says the firm also helps with tax planning to help clients mitigate their tax liabilities in the future.
The vast majority of returns are now e-filed and he believes that in the near future the Canada Revenue Agency (CRA) will set up an online system so that clients can submit their materials this way and software programs will take care of the rest.
Fees at Willson Income Tax for Canadian returns are $80 with reduced fees for seniors and students. A cross-border return costs $425 because of the added complexity.
This LaSalle firm is located at 5844 Malden Road and/or you can visit them online at: WillsonIncomeTax.com.
Gregory D. Garant, CPA
For Greg Garant, who has more than 40 years of tax experience, a large portion of his business, Gregory D. Garant Chartered Professional Accountant (CPA), focuses on cross-border and international returns.
“We have clients across Windsor who work in the U.S., Canadians who live and work in the U.S., but still have to file here, clients in British Columbia who work in Washington State and even clients in Israel and Australia who have to file tax returns here,” says Garant who launched his firm in 1989.
“Online filing has made it easier and there are clients I’ve had for 10 years and we’ve never met,” he points out. “It’s more impersonal because you lose the personal touch and the ability to talk to clients about their families and what’s going on in their lives. But, on the other hand, it’s more efficient because online you tend to get right down to business.”
Garant also handles CRA and Internal Revenue Service reviews and audits, on behalf of clients, a process he says can take up two months of the firm’s time and resources.
“We’ve had as many as several hundred reviews or audits to handle in a given year and it takes time to resolve them all,” explains Garant. “We also have to provide CRA with proof that U.S. taxes have been paid and that can be time-consuming as well.”
Although he has six or seven full and part-time employees on a year-round
Greg Garant, who has more than 40 years of tax practitioner experience, opened his firm in 1989. In addition to tax returns for local residents, the company also focuses on tax returns for people living and working outside Canada. Photo courtesy of Greg Garant.
basis, Garant acknowledges he’s always looking for qualified people.
“We’re working six days a week most of the year because taxes never go away and we’re always adding new clients,” he states. “We’re very informal when it comes to dealing with clients, but we are sticklers for details.”
His firm also handles small business tax returns, small corporation tax issues and tax planning for clients seeking to mitigate their future tax liabilities.
Fees for Canadian returns with Garant start at $75 and can increase depending upon the complexity of the return, while the fee for U.S./Canadian returns is $400.
The firm of Gregory D. Garant Chartered Professional Accountant is located at 631 Pitt Street West in Windsor. For more information, visit: GarantCPA.ca.
Dollars And Cents Investments Inc.
The company was launched in 1987 and current business partners Frances Dedona and Jon McGuire have been with Dollars and Cents Investments Inc. for 20-plus years and six years, respectively.
“We each had the chance to buy in and we took it when the opportunity arose,” McGuire recounts.
Like other companies interviewed, McGuire agrees business hasn’t really been affected by two years of pandemic restrictions “because some things never go away and that includes taxes.”
“We do meet with the occasional client if absolutely necessary because, like everyone, we’ve had to adapt to constantly changing circumstances,” explains McGuire.
And while some tax preparers are comfortable meeting with clients, others prefer to use a drop-off system.
“We have all the protocols in place including masks and desk shields, so it’s perfectly safe for everyone,” she says.
The firm also offers bookkeeping services for small and medium-sized businesses unless the returns are complex and then the client is referred to an accountant for a more detailed approach.
Industry newsletters and updates help keep McGuire and Dedona up to date on changes to the Income Tax Act.
Dedona, who has been with the firm since 1986 and bought a share of the partnership in 1997, says the company’s 12 employees handle roughly 3,000 tax returns every filing season, including many for clients who have been bringing their tax information in for more than 20 years.
In addition to tax returns, the firm offers advice about mitigating tax liabilities in the future and works with clients facing either a CRA review or audit. They don’t handle cross-border returns.
McGuire says his firm offers free estimates, but did not want to disclose a set fee schedule because every return is different.
“I wouldn’t want someone coming in thinking they are going to pay X number of dollars and then have it be a lot more,” he explains.
You can meet Dedona and McGuire by setting up an appointment at their Amherstburg office, 421 Sandwich Street South, Unit #7. Online you can refer to them at: DollarsAndCents.co.
Ferrera Income Tax
When founder Olimpio Ferrera passed away in December 2021, his daughters made a pledge to keep their father’s business operating as it had for over 40 years.
Mary Ferrera and Diana Ferrera are Tax Consultants and the Owners of Ferrera Income Tax in Windsor. The firm, founded by their father Olimpio Ferrera, has specialized in Canadian and U.S. income tax since 1979. Photo by Rod Denis.
“My dad loved the business and he loved working in it and we want to make him proud of us by taking over and keeping it going,” explains Mary Ferrera who now runs Ferrera Income Tax alongside sister Diana Ferrera. “It’s always been a family business and we want to keep it that way.”
Olimpio, who came to Canada in the 1960s, worked for 11 years for another tax firm before accepting the challenge to open his own firm in Windsor in 1979.
Mary, who has a business degree from the University of Windsor and an MBA from Wayne State, handles the income tax portion of the business while Diana, who has a computer science education from St. Clair College, handles other tax issues such as GST and HST.
In addition to filing tax returns on behalf of Canadian clients, the firm is also registered with the U.S. Internal Revenue Service and is able to complete crossborder tax returns for many local residents who work in Michigan and beyond.
“It can be quite complicated, because many U.S. states have different income tax rules and a few states don’t collect any income taxes, so you have to be on top of all the different rules when clients come calling,” Mary comments.
Diana and Mary both take courses on a yearly basis to keep up with changes to the Income Tax Act in Canada and must also be cognizant of changes across the border.
The firm was open throughout the pandemic, with plexiglass screens separating staff members, but wasn’t always able to host client meetings in person, so much of it was handled online.
When it comes to deciding between retaining the services of either a bookkeeper or an accountant, Mary says most clients opt for a bookkeeper when it comes to organizing income on behalf of a business and an accountant for complex tax returns.
“It all really depends on the individual, but we can handle both and we always have,” she says.
The firm’s fees range from $100 for a Canadian return to between $450 and $550 for a dual U.S. and Canadian return, depending on its complexity.
They also offer payroll services, preparation of financial statements, tax planning/consultations, small corporation tax filing, and providing information on employer incentives, tax credits, and government subsidies.
Ferrera Income Tax can be found at 235 Eugenie Street West, Suite 105A, in Windsor. To learn about their history, services, and to see tax links and tips go to: FerreraIncomeTax.com.
Income Tax Services
After recently retiring from the City of Windsor’s finance department after more than 30 years, Itza Pinell decided to put that experience to good use. She turned her focus full time towards her own business, which she opened 15 years ago, operating as Income Tax Services.
“It was time to work for myself and continue building up my client base,” Pinell indicates.
Now, in addition to personal and corporate tax filings, Pinell focuses on the region’s large migrant population by preparing taxes for many Hispanic workers employed by Leamington’s massive greenhouse and farming sector.
“They don’t qualify for a lot of deductions, which residents can claim, so it’s a very basic return, but if it’s not done correctly they can be hit with a large tax bill,” explains Pinell. “Many don’t understand, so it’s gratifying to help them make sure their returns are filed accurately.”
Pinell says that filing tax returns on behalf of migrant workers has become a large portion of her business over the past few years.
“In recognition of the important role
migrant workers play in our community, we are committed to helping them file their taxes in a timely fashion,” adds Pinell whose firm offers services in English and Spanish.
Itza Pinell, who spent almost 30 years working for the City of Windsor’s finance department, now operates her own business — Income Tax Services. She focuses a lot of her attention on filing income tax returns for the region’s large migrant worker population, with services offered in English and Spanish. Photo courtesy of Itza Pinell. Willson Income Tax has been helping its clients with their taxes since 1960 and Owner Mike Willson has been involved with the family business for over 35 years. Photo by Rod Denis.
In addition to filing written returns for many of her clients, Pinell’s firm is also a member of the Efile Association of Canada,which represents tax practitioners from every region across the country and deals with senior managers with the CRA, when it comes to tax issues.
“One of the key functions of the association is to communicate directly with senior management at CRA, on behalf of members, to discuss tax policy and administrative issues that affect all tax practitioners,” Pinell mentions.
Pinell also works with clients facing an audit, advises them about tax mitigation strategies, helps prepare financial plans and provides advice on RRSPs and other ways to reduce tax liabilities via individual returns or business filings.
Her business also offers tax planning, CPP and EI benefits applications, filing of back taxes, assistance with CRA audits, tax implications of rental properties, and CRA presentations.
The fee for a basic tax return is $60 with higher fees for more complicated filings.
Her company is located at 48 Erie Street South in Leamington.
For further details view her website at: IncomeTaxServicesLeamington.com.
As we all have experienced, gathering up the paperwork needed to file your taxes and filling out forms for hours on end is never fun. (In fact you might even feel like you are in tax hell!)
Tax returns can be complicated at times, so using the services of a local tax professional can make the entire process less painful and more of a delightful, somewhat heavenly experience.
So what are you waiting for? Contact an expert now, as April 30 will be here before you know it!
