Nader Tehrani, founder of NHT Associates, co-author of The Secret to Wealth, Vol II with Brian Tracy, author of the upcoming book 50 Secrets CRA Doesn’t Want You to Know, and published author of numerous contributions to Women’s Millionaire and Canadian Real Estate Wealth magazines, does so much more than deliver impeccable service to his clients.
With 30 years of experience, and in dealing with the Canada Revenue Agency (CRA), Tehrani, a Chartered Professional Accountant (CPA, CGA) offers a variety of services to clients including independent business owners and professionals including medical and dental clinics, legal firms, and real estate investors.
For those who are thinking of setting up corporate structures to dramatically reduce income taxes, while providing greater protection against liability, Tehrani and his team can help. Proper structures can reduce income taxes by up to 75%. One can also pay a spouse or family member to split the income and reduce personal taxes.
Ever wondered how the rich get richer by paying less tax? There are ways to save taxes and hard-earned dollars while providing insurance to loved ones should anything happen. It’s also important to know that whole life insurance payments are not taxable unlike RRSP’s.
Real estate investment gains can be converted into capital gains to pay income tax on only half of that income if one properly plans in advance and considers using tax laws to their benefit. Also, passive real estate income can be converted into active business income so that the taxes are reduced from the highest tax bracket of 50% to only 12.5%.
Canada Revenue Agency has set limits on many expenses, but they have also determined plenty of exceptions to the rules. As an example, consider meals and entertainment.
Everyone is aware that the meals and entertainment line item is limited to half, when claiming it on an income tax return or when claiming HST input tax credit. But individuals should also be aware that limit is removed once there is an event that each and every employee, of a company, has been invited to such as a Christmas party or annual sales event.
In fact, a company can have up to 6 of these events, per year, for employees and claim the meals and entertainment at 100%.
Another scenario where individuals can claim exemption is when setting up an estate plan. Here, they can exempt up to $883,000 on the sale of small business shares. These examples are meant to illustrate that proper planning is crucial!
NHT Associates is a full-service chartered professional accounting firm with offices in Kitchener and Oakville, Ontario, offering both owner-managed businesses and investors first-rate consulting, tax and accounting services for today’s business scenarios and ensuring that the goals formed today align with future objectives. The personal approach of Tehrani, and NHT Associates, is to actively listen to clients’ wishes, work to understand their goals, and formulate a plan that actively addresses both. Each program is custom-designed to fit each client’s needs and requirements.
Here’s what others are saying about the exemplary service and standards of NHT Associates:
“Nader and the NHT team are always learning! By updating their skills and knowledge they are able to keep up with the current demands of the modern world. His advice will always be based on current findings and knowledge. You can trust Nader to have your best interest at heart when developing your financial plan.” – The Record.com
“NHT Associates has developed a loyal following of clients that range from small private firms to mid-and large-sized companies, as well as families and individuals who want to maximize the benefits available to them through prudent tax preparation and financial and estate planning.” – The Record.com
For businesses and individuals looking for a firm that truly stands above the rest, and is a one-stop-shop, NHT Associates is by far, a leader in their industry. Going above and beyond, at all times, they continue to deliver unparalleled service time and again.