Depending on the availability of information that we need, it is usually possible to give you a preliminary indication of what tax credits or refunds you are missing during this conversation or shortly after.
The tax review will take approximately 20 minutes.
TaxWise has found disability/medical conditions tax credits and deductions for a good percentage of people whom have approached us over the years. Over the last 23 years, we have been able to help more than 25 000 Canadians!
Through our assessment process, we are able to inform yourself whether or not there is an opportunity of finding out if you or your family member is eligible for tax refunds or credits. There are many factors to consider you may not be aware of.
After you engage our services it generally takes anywhere between 3-9 months for CRA to process your file.
Over a conversation, we conduct an informal assessment addressing your unique situation. Depending on the availability of information that we need, it is usually possible to give you a preliminary indication of what tax credits or refunds you are missing in a conversation a few days after.
Your tax review will include what your options are as well as guidelines about engaging our firm so that we can take care of everything for you. We are able to maximize results due to our experience and expertise.
There are no upfront costs of any kind. We charge our clients using a “contingency fee”. A contingency fee is based only on successful outcomes.
All future benefits are yours alone and we take no fee going forward.
If we are unsuccessful in retrieving any retroactive refunds from the Canada Revenue Agency, we charge you absolutely nothing. When we are successful, we take an industry standard 30% from the funds which we have retrieved on your behalf.
In all cases the only risk is in not making the effort. The worst that can happen is that you end up in the same tax situation you are now.
Generally a tax review would cost hundreds of dollars up front—if you can find someone with the expertise— and then there is no guarantee you will get positive results.
TaxWise removes that risk and cost completely.
If we find refunds and/or deductions which you are entitled to and you take the next step of engaging us to prepare and submit your claims to the Canada Revenue Agency, we cannot guarantee they will accept any claims but the effort and cost is ours.
If for some reason the Canada revenue Agency does not accept your claim (as submitted by TaxWise or yourself), this does not in any way make you vulnerable for future action or reassessments by CRA. Obviously we would not submit any claim we did not think was valid.
No one else but the people performing your tax review and the accountant rendering your file will have access to your information.
We exercise every security measure and practice to ensure that your private information remains confidential.
Almost 50% of eligible tax credits we find people are eligible for are transferable to family members. Our review includes all family members who share the financial burden.
Disability tax credits are non refundable (they only reduce taxes paid) so if you have no income or low income or are on social assistance (resulting in low or no income tax owing) you may think TaxWise cannot help you. This is not necessarily true. Due to criteria such as potential transferability to a spouse or supporting family member and retroactive claims you should still complete the application forms and let us sort things out. If you meet the medical qualifications should not hesitate.
In some cases we include current year and past year preparation of tax returns. A special case exists for those who have not filed tax returns for a number of years and may be qualified for disability/medical conditions tax credits or medical expense deductions.
If your analysis is favourable with respect to real tax savings our service will evaluate on a case-by-case basis the need to complete tax returns including one for the current year.
We have one of our specialists do an assessment over the phone, then we send you a mail package, with a series of forms that will help us move forward.
If you need help filling out those forms, we are available by phone to help you through every step along the way.
This happens on occasion, often when someone has experienced some extenuating circumstances in their lives. We have helped numerous people in this situation.
If you are interested in seeing if you qualify for disability/medical conditions tax credits, we are happy to do a free tax review.
The bottom line is that in most cases you should get your free tax review so you know whether or not it is in your best financial interests to apply for a DTC.
Our analysis covers many situations so you, your caregivers or spouse certainly do not need a DTC. Medical expenses, as an example, are often eligible for tax deductions and this has nothing to do with disability/medical conditions tax credits.
If you currently have a valid Disability Tax Credit Certificate (DTC) and are receiving disability/medical conditions tax credits, our tax professionals have experience in maximizing your credit opportunities.
We are a company no different from any other financial services company. We have accountants and tax professionals on staff. We have been in business for 23 years and have helped more than 25 000 Canadians.
When we do adjustments, it will not affect your taxes, other than getting you more money.
Having done this for more than 23 years, we have learned to work with our client’s team of medical support professionals to get the right information conveyed to the right parties. Many of our clients are people who previously were unsuccessful getting the right documents from the right medical professionals independently.
To qualify, your medical issue, disability or caregiver status has more to do with how markedly an individual is, rather than a title of a diagnosis.
We really don’t know until we learn more about your circumstance. There is an amount of paperwork which (with your help) we will complete on your behalf. This paperwork will enable us to objectively analysis your situation, and from there present options.
TaxWise is a company of accountants. Unlike many other companies, we look at the whole families’ situation.
Many of “those other companies” only review the disability tax credit and the caregiver credit. Our process includes reviewing dozens of eligible credits.
The problem is, many Canadians who work with these organizations think that they have explored every tax benefit and program that addresses their medical condition and/or disability – meanwhile, they have potentially left thousands of dollars on the table (dollars that would have paid for therapies, care, etc.). TaxWise has dozens of relationships with Canadian associations and not-for-profits. We are constantly asked to do tax clinics, seminars and to participate in information panels.
We offer a free financial literacy seminar titled “Empowering Canadians with sound tax advice”. Again, these are the characteristic of an industry leader – and another example of what separates us from everyone else.