Personal Tax & Wealth Planning
Off-the-shelf tax software treats you like a number. We treat your T1 return as a strategic wealth-building tool — uncovering hidden deductions, optimizing credits, and bulletproofing you against CRA audits.
The Cost of DIY Tax Filing.
Every year, Canadians leave thousands of dollars on the table by relying on automated software that simply asks "yes or no" questions. Tax software is designed for basic returns — it cannot provide strategic advice.
If you have self-employment income, rental properties, complex investment portfolios, or have experienced a major life event (marriage, divorce, inheritance), a generic algorithm will miss the nuanced deductions a seasoned CPA will catch. Worse, entering data incorrectly on complex schedules (like the T2125 or Schedule 3) is the fastest way to trigger an invasive CRA desk audit.
Audit Risk Mitigation — Built In
The CRA uses advanced algorithms to flag anomalies in T1 returns. Our CPAs review every return against industry benchmarks before filing, ensuring your deductions are aggressive yet completely defensible.
T1 Income Tax Estimator
Estimate your personal tax liability and see the real impact of RRSP deductions on your average tax rate.
T1 Income Tax Estimator
Estimate your personal tax liability and see the impact of RRSP deductions on your average tax rate.
Only 50% ($5,000) is taxable
Your Tax Summary
This tool is for general information only and does not replace professional tax or accounting advice.
Mastering the Complex Schedules
The T2125: Self-Employment & Gig Economy
If you earn income outside of a standard T4 (freelancing, consulting, Uber, Etsy), you must file a Statement of Business or Professional Activities (T2125). This is where the most significant tax savings — and audit risks — occur.
- Optimization: We calculate exact prorations for your home office, vehicle expenses, meals & entertainment, and CCA on equipment.
- Protection: We ensure your expense ratios align with CRA expectations for your industry to avoid red flags.
Schedule 3: Capital Gains & Investments
Selling stocks, mutual funds, real estate, or cryptocurrency requires meticulous reporting on Schedule 3. The CRA requires you to calculate your Adjusted Cost Base (ACB) accurately, which can be incredibly complex if you've made multiple purchases or reinvested dividends.
- Tax-Loss Harvesting: We offset capital gains with allowable capital losses, including carrying back losses up to 3 years or forward indefinitely.
- Superficial Loss Rules: We navigate the strict 30-day "superficial loss" rules to ensure your strategies are legally valid.
Family Tax Optimization
Taxes shouldn't be filed in isolation. We look at the entire family unit to maximize combined tax efficiency.
- Income Splitting: Spousal RRSPs, pension income splitting, and optimizing childcare expense claims (which must generally be claimed by the lower-income spouse).
- Credit Pooling: Combining medical expenses and charitable donations onto one spouse's return to clear threshold hurdles and maximize credits.
Real Estate & Investment Taxation
Real estate and capital markets are powerful wealth generators, but they come with complex tax reporting requirements. A single error in calculating your adjusted cost base (ACB) or claiming the wrong expenses can trigger a costly CRA audit.
We ensure your investments are reported accurately while aggressively utilizing available exemptions to keep more money in your pocket.
- Rental Income (T776)We optimize your Statement of Real Estate Rentals, properly categorizing current expenses vs. capital expenditures, and advising on the strategic use of Capital Cost Allowance (CCA) to defer taxes without triggering recapture traps upon sale.
- Principal Residence Exemption (PRE)Selling a home? The CRA now requires you to report every sale. We handle the complex reporting, especially in "change of use" scenarios (converting a rental to a primary residence or vice versa). Deep-dive: PRE Planning →
- Foreign Income Verification (T1135)If you hold specified foreign property costing more than $100,000 CAD, you face severe penalties for failing to file Form T1135. We ensure strict compliance with international reporting laws.
Capital Gains Optimization
Strategic harvesting of capital losses to offset gains and minimize your tax exposure.
The Sole Proprietor Toolkit
Business-Use-of-Home
Deduct a portion of your rent, mortgage interest, property taxes, utilities, and internet based on the square footage of your dedicated workspace. See Home Office Guide →
Motor Vehicle Expenses
We help you maintain compliant mileage logs to claim fuel, insurance, maintenance, and CCA depreciation on your personal vehicle used for business.
Meals & Entertainment
Properly categorize client dinners, events, and travel expenses to maximize the allowable 50% deduction while staying off the CRA's radar.
Self-Employed & Freelancers
Operating as a sole proprietor or freelancer means your business income is directly tied to your personal tax return via the T2125 Statement of Business or Professional Activities.
This is one of the most heavily scrutinized forms by the CRA. Claiming aggressive or undocumented expenses is a guaranteed way to trigger a desk audit. Conversely, being too conservative means you overpay in taxes. We find the perfect, legally-compliant balance.
We also provide critical advisory on when to incorporate. If your self-employment income is pushing you into the top marginal tax brackets and you don't need all the cash to live on, it's time to transition to a corporate structure to access the 12.2% small business tax rate.
RRSP Tax Savings Calculator
See exactly how much tax you save by maximizing your RRSP contribution this year.
RRSP Tax Savings Estimator
See how much tax you can defer this year
Ontario combined marginal rate: 43.41%
Capped at 18% of income or 2025 max ($32,490)
Estimated Tax Refund / Savings
*Estimates based on 2025 Ontario marginal tax rates. Actual savings depend on your specific tax situation, deductions, and available contribution room.
This tool is for general information only and does not replace professional tax or accounting advice.
Family Wealth & Estate Planning
True wealth planning looks beyond the current tax year. We help you structure your assets to benefit your family today and ensure a seamless, tax-efficient transfer to the next generation.
Income Splitting Strategies
Despite the tightening of TOSI (Tax on Split Income) rules, there are still highly effective ways to split income with a lower-income spouse or family members. We advise on spousal RRSPs, prescribed rate loans, and pension income splitting to lower your family's overall effective tax rate.
Estate & Probate Planning
Upon death, the CRA deems you to have sold all your assets at fair market value, potentially triggering a massive final tax bill. We work with your legal counsel to implement estate freezes, joint tenancy structures, and life insurance strategies to minimize probate fees and protect your legacy.
Trust Returns (T3)
If you have established a Family Trust, Alter Ego Trust, or are the executor of an estate, we handle the complex preparation of T3 Trust Income Tax and Information Returns, ensuring compliance with the new, stringent trust reporting rules.
Why Choose Teixeira Accounting?
At Teixeira Accounting Firm Inc., we don't just record history; we write your financial future. Most accounting firms are reactive—they wait for you to bring them problems. We are proactive architects of your wealth and business growth.
Whether you're a scaling enterprise or a high-net-worth individual, we provide the strategic oversight, tax optimization, and bulletproof compliance you need to operate with absolute confidence.
The Teixeira Advantage
Proactive Tax Strategy
We don't just file your taxes; we actively look for ways to reduce your tax burden year-round.
Bulletproof Compliance
Our rigorous quality control ensures your filings are accurate, minimizing audit risk.
Dedicated Advisory
You get a dedicated partner who understands your business deeply, not just a once-a-year tax preparer.
Personal Tax FAQs
Stop Overpaying the CRA.
Partner with Teixeira Accounting for strategic personal tax preparation and wealth planning that protects your financial future.