FAQ section.
Click on numbers to navigate.
1) How long will the tax review take?
2)
What is the likelihood of finding unused tax credits or deductions for
me?
3) After I get my free tax review can you help me get
any refunds or deductions that I am entitled to? What
is your fee?
4)
Is there any risk?
5) What about the personal financial information you
require in the application?
6) Are there really over 1,000,000 people not getting
all the tax deductions they are entitled to?
7) I am a low income earner. Can I still benefit from
a tax review?
8) I am a spouse or family member that provides financial
assistance. Can I benefit from the free tax review?
9) Does
this service include the preparation of tax returns?
10) Where can I get help to complete the application forms?
Can I call TaxWise?
11) I
have not filed an income tax return recently. Can I still get a
free tax review?
12) Do I need a disability tax certificate?
13) I already have a DTC. Can I still benefit
from calling TaxWise?
14) I am still not sure. Any comments?
15) Where are the application forms and instructions?
16)
Why is the tax review free?
Answers
1)
How long will the tax review take?
If you are submitting a profile form online, generally
we will contact you by telephone within a few days and discuss your situation
in detail. 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.
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2)
What is the likelihood of finding unused tax credits or deductions for
me?
TaxWise
has found disability tax credits and/or medical expense deductions for
a good percentage of qualified applicants. Who is most likely to benefit
can be found here. For most applicants this
has been worth $3000 - $10,000. You or a family member have a very good
chance of finding out you are eligible for significant tax refunds or
credits. There are many factors to consider you may not be aware of.
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3)
After I get my free tax
review can you help me get any refunds or deductions that I am entitled
to? What is your fee?
Yes. Your tax review will include what your options are as well as guidelines
about engaging our firm to take care of everything for you. We are able
to maximize results due to our experience and expertise. Our
contingency fee is based only on successful outcomes and of course does
not include any credits or refunds you are already getting. Our
fee is 100% tax deductible for most people.
There are no up front costs of any kind.
All future benefits
are yours alone and we take no fee going forward. After
you engage our services it generally takes three to six months for CRA
to process your file. top
Since Tax Wise can only submit
a claim to CRA for reassessment based on the data you (and others involved
such as your family) provide us, it is in the best interests of all parties
to provide accurate data and situational information.
4)
Is there any risk?
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 costs 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 you are entitled to and you take the next step of engaging
us to prepare and submit your claims to CRA we cannot guarantee they
will accept any claims but the effort and cost is ours. If for some reason
CRA 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. In all cases the truth prevails. top
5)
What about the personal financial information you require in the application?
The
online application forms are encrypted and stored in a secure environment.
The toll free fax # and client letters are accessed only by designated
personnel. No one else but the people performing your tax review will
have access to your file and we routinely delete personal files and of
course will do so on a request basis as well. You can call us at any
time and talk about your situation. We have been helping individuals
and small business reduce taxes for over 30 years.
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6)
Are there really over 1,000,000 people not getting all the tax deductions
they are entitled to?
According to Statistics Canada in a self assessing survey, as of March
2003, there were over 3,400,000 disabled people in Canada or 14.6% of
the population. 5.9% of the population classified themselves as severely
disabled or infirm. This represents about 1,400,000 adults (over 15)
who are likely to qualify for a Disability Tax Credit Certificate.
Compare this to how many are now receiving the DTC. According to a news
release by Finance Canada on Disability Tax Credit Proposals,
(November 29, 2002) the DTC
currently provides $400 million per year to about 450,000 eligible Canadians
suffering from a severe and prolonged mental or physical impairment,
the effects of which markedly restrict their ability to perform a basic
activity of daily living.
When you include family members
or support providers who are financially supporting a person with a disability
and who may qualify for transferable credits or refunds, and the fact
that children also qualify for the DTC (then transferred to a parent)
the number grows quickly.
We have integrated our own
research activities and personal experience with the above numbers to
establish the figure of at least 1 million people (including family members
and support providers) who have not maximized their disability tax credits
or medical expense deductions. We also think that this is a conservative
estimate.
As well, there are very few
tax specialists in this often complex area and most tax reduction efforts
do not diligently cross-reference tax regulations with personal circumstances
to establish all possible tax breaks - of which there are many. So most
people are forced to make assumptions about their tax situation based
on superficial opinions and hearsay. Yes, our free tax review performs
this cross reference for you.
Add to this the fact that
recent legislation and numerous successful appeals and challenges in
the tax courts have considerably broadened allowable medical expenses
and qualifications for disability tax credits. Most people are unaware
of what recent changes will benefit them. That there are increased opportunities
is substantiated by the increased funding the Government of Canada has
earmarked in recent federal budgets to cover future claims. More
details top
7) I am
a low income earner. Can I still benefit from a tax review?
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
(here) don't hesitate. top
8)
I am a spouse or family member that provides financial assistance. Can
I benefit from the free tax review?
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. top
9)
Does this service include the preparation of tax returns?
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 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.
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10) Where can I get help
to complete the forms?
We are asking your cooperation to please review all of the information
on this site and the forms themselves before calling us for help.
If you have done that then by all means give us a call. Thank you for
your cooperation. contact info top
11)
I have not filed an income tax return recently. Can I still get
a free tax review?
This usually happens when someone has a low or no income level
or extenuating circumstances have occurred - which are certainly understandable.
We have helped numerous people in this situation. If you
think you may qualify for disability tax credits complete the forms as
best as you can and submit them to us. It is important to include
your support providers in the tax review. You may want to ask them to
look at this information and give us a call to discuss the situation.
We will help you if we can. Likely we will need to contact you for more
information. top
12)
Do I need a Disability Tax Certificate?
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.
Can we help you with this?
In the end it is the medical practitioner under whose care you are who
will decide if you qualify. Here are a few things to think about.
Due to recent legislation and successful challenges in the tax courts,
many more individuals than previously are now eligible for disability
or medical tax credits or deductions. The DTC has recently been
revised to help facilitate these changes and to avoid previous grey areas
that sometimes made it difficult to provide a definitive assessment of
what defined disability relative to tax legislation. These are positive
changes. So if you think you may qualify as a person with a disability
do not hesitate to proceed. As well, second opinions may be appropriate
for those who have not qualified for some reason they truly think is
unfair or wrong. top
We will coach you through
the best approaches (for your situation) to obtaining a DTC if you engage
our services. To
review a list of what may qualify for a DTC
go here.
SITUATIONS THAT DO NOT
NEED A DTC
Other medical and attendant care expenses incurred by the disabled person(s)
or their spouse, immediate family, and/or caregiver may be tax deductible
and/or transferable. Our analysis covers all of these situations so your
caregivers or spouse certainly do not need a DTC in these situations-only
you do. Often medical expenses are eligible for tax deductions
and this has nothing to do with disability tax credits. top
13)
I already have a DTC.
If you currently have a valid Disability Tax Credit Certificate (DTC)
and are receiving disability tax credits every year you need to decide
if, due to low income, some of these credits or medical expenses could
be legitimately transferred to a spouse or family member since you are
not able to take advantage of all that is allowed due to your low income.
Our analysis will do this as well. top
14)
I am still not sure. Any comments?
Remember that this free review is specifically for people who are not
sure if they have received all the disability tax credits and/or deductions
that they are entitled to. TaxWise exists to dispel any uncertainty that
you are missing any tax credits and to help you take action to maximize
results. top
15)
Where are the application forms and instructions?
Online forms are here.
16)
Why is the tax review free?
Most people will not take action to reduce taxes unless they know there
are real and positive financial benefits. Why should they? Recognizing
this, our firm decided to make it as easy as possible to identify those
benefits and what could be easier than free? Taking action is certainly
easier if positive results are expected.
We charge
a one-time contingency fee, based only on successful outcomes, to those
who wish to take the next step and engage our experienced professionals
to prepare and submit their claims to CRA. This assures ease of
effort and maximum results that more than justifies the reasonable contingency
fee we ask. All future benefits are yours alone and we take no fee going
forward. top
CONTACT
INFORMATION
TaxWise Inc.
200-2520B St. Laurent Blvd.
Ottawa, ON K1H 1B1
Toll free: 1-866-448-2188
Telephone: 613-733-2188 Fax: 613-733-2131
Email
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