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How We Help


Empowered Life Program™

This is Solution One Financial's comprehensive planning service, wherein we blend both financial and life conversations, using Our Process to provide structure and clarity to your entire financial life picture.

The Empowered Life Program™ process

  • Meet with you to work through details of your situation (usually 3-4 meetings up-front, 6-7 total for the year)
  • Present recommendations to help you reach your financial Life goals
  • Assist and guide you as needed to implement action items
  • Update, monitor and modify your plan as needed
  • See Our Process for more details

Solution One Financial is a fee-only or fee-for-service financial planning firm

  • No commissions, sales loads, or surrender charges — Transparent Pricing
  • Building and maintaining your financial security is our only incentive
  • Our only revenue is from the fees paid by our clients
  • No soft dollars or referral fees received from any recommendations to other professionals or services
  • Firms that are paid commissions on the sale of any product may have a bias to selling that product. In addition, firms that are paid solely as a percentage of marketable securities (your investment portfolio) may be biased in favour of recommending that you move assets into those types of investments (as opposed to keeping your real estate, private equity, other assets or paying down debt).
  • If you're a numbers person here's a sample plan to review Sample Plan

Our Fee Structure

Our annual retainer for The Empowered Life Program™ is $2,500. 10% off if paid up front or use our payment plan 50% up front ($1,250) and 3 equal quarterly payments of $416.67

Why is our retainer based on a Flat Plan Rate?

  • No conflicts of interest to build an appropriate emergency fund
  • No conflicts of interest to pay down debts from the portfolio (Mortgages, Student Loans, Etc.)
  • No change in compensation regardless of where investments are held
  • Our only financial incentive will be to steadily grow and maintain your wealth
  • Book your compimentary FIT meeting now!

Serving Clients in Kemptville, North Grenville, Prescott, Brockville, Ottawa Ontario and nationally.

 


Fresh Start Program™

The Fresh Start Program™ was created to provide advice on the fundamentals of financial planning and to teach and monitor the on-going components of financial management.

The Fresh Start Program™ process:

Establish and track your Net Worth. This helps to create a better understanding of your overall financial situation and provides context to help us make better financial decisions as a team.

  • Plan and manage Cash Flow. By using our Cash Management System, you will begin to understand how to use your resources to work towards the financial goals that are meaningful to you.
  • Establish and maintain a proper Emergency Fund. Your emergency fund protects the rest of your financial life and goals.
  • Debt management and/or reduction. Through our Cash Management System, we will develop a plan to reduce any debt you have, or to help you understand what an appropriate amount of debt would be before making any purchasing decisions.
  • Perhaps most importantly, establish and Track Goals. By setting goals (usually 2 meetings up-front) and then meeting periodically (typically every 6 months) to review your progress, you will dramatically increase the likelihood that you will achieve your goals.
  • If you're a numbers person here's a sample plan to review Sample Plan

Solution One Financial is a fee-only/fee for service financial planning firm:

  • No commissions, sales loads, or surrender charges
  • Building and maintaining your financial security is our only incentive
  • Our only revenue is from the fees paid by our clients
  • No soft dollars or referral fees received from any recommendations to other professionals or services
  • Firms that are paid commissions on the sale of any product may have a bias to selling that product. In addition, firms that are paid solely as a percentage of marketable securities (your investment portfolio) may be biased in favour of recommending that you move assets into those types of investments (as opposed to keeping your real estate, private equity, other assets or paying down debt).

The price for Fresh Start Program™:

100.00/month or 1,000.00/year paid up front (a 15% discount)

For any services needed beyond what is included, such as Risk Profiling, Asset Allocation or Retirement Planning, there will be an additional charge of 175.00/hour to work through the modules

 Book your compimentary FIT meeting now!


Corporate/Business Tax Planning & Preparation

Our goal is to help you:

  • Organize your tax information
  • Simplify the tax preparation process
  • Provide proactive year-round tax planning to keep you informed of your tax situation
  • Take advantage of opportunities for you to minimize your current tax liability
  • Evaluate strategies pertinent to your situation
  • Help you maximize your long-term after-tax wealth

Let us help you forget about the drudgery of Tax preparation so you can do what you do best, Run Your Business. Imagine if you could focus more time on your business, especially in the area of sales, marketing and business planning/development. Who knows where you could be in 5 or 10 years! And if you don't have a passion for these, or other specific aspects of your business, i.e. sales, DELEGATE, but don't abdicate. I always recommend that clients farm out areas of their business that they dislike, don't have the skills or upon which they tend to procrastinate. This allows them to focus on what gets them up in the morning.

During our process we want you to feel secure in the knowledge that we took our time; that we thoroughly examined your documents, asked all the right questions and prepared your tax return in a way that doesn't attract the attention of CRA. At the completion of your return, we'll explain in simplified terms our analysis of your company numbers and make suggestions for moving forward.

That's our goal each year, to help our clients understand their numbers and use that understanding to help improve their business. With a better understanding and appreciation of the numbers you're guaranteed to be more successful than if you ignore them.

Within these web pages you're not going to get a lot of technical information about preparing tax returns; there's lots of that available elsewhere and on the web. Our hope is to give you ideas to help grow your business and allow you to focus on your passion.

Corporate Tax Planning & Preparation Starts at 1295.00*

Proprietor Business Planning & Preparation Starts at 245.00*

Call us for a No Obligation Free consultation valued at 150.00

*Each file is evaluated individually and a quote is provided for the job. Hourly Accounting Fees are 150.00/hr. Bookkeeping 50.00/hr.

 


Personal Tax Planning & Preparation

Peace of Mind:
Knowing Your Tax Return was Prepared Properly.

*New - We have a Drop off mail slot in our back door for after hours drop offs

 

Our goal is to help you:

  • Organize your tax information
  • Simplify the tax preparation process
  • Provide proactive year-round tax planning to keep you informed of your tax situation
  • Take advantage of opportunities for you to minimize your current tax liability
  • Evaluate strategies pertinent to your situation
  • Help you maximize your long-term after-tax wealth

Every year we spend a lot of time and money improving our service through training and updating our skills to better help our clients. We also step back and ask questions such as: How can we deliver a higher quality, faster, more efficient service? How can we ease our clients' stress and frustrations? How can we help our clients to forget about taxes so they can focus on the things they do best? What other services can we provide to help with their finances?

Bottom line is: We want you to feel secure in the fact that your tax return was completed accurately and efficiently for a reasonable cost. We guarantee it!.

So, how do you file your taxes with us? It's easy; just follow this link.

Personal Tax returns start at 98.00**

**Single T4 and Low income Senior discounts available

 


Disability Tax Credit Service (DTC)

Are You Living with a Disability?

If you Qualify, it could be worth up to $35,000 or more.

With us, you keep more of your refund. Unlike other firms that charge 30% of your refund, we charge a flat fee.

DTC cases start at 197 plus adjustments for the numbers of years you qualify. Call us for details.

Who & What Qualifies

In our practice, 90% of the Disability Tax Credit (DTC) clients we work with have disabilities that have lasted for more then 10 years. On the positive side, we are able to help people recover the refunds owed to them, usually substantial amounts; the down side is that no one informed them of their eligibility prior to coming to Solution One. Not their accountant, their tax preparer or Aunt Susie who’s been preparing their tax returns for years, using the “copy what I put on last year’s tax return onto this year’s tax return” method. The other sad part is that many have lost years of refund money due to the fact that Canada Revenue Agency (CRA) only allows us to go back 10 years to make adjustments. Thus many disabled individuals unwittingly lose thousands of dollars as of every January 1st.

Eligibility for the DTC is based on the effects of the disability rather than its presence and whether Life-sustaining therapies are involved. You may have seen long lists of disabilities that may possibly qualify for the DTC but don’t be fooled by this. To qualify CRA states the disability must be a severe and prolonged mental or physical impairment such that you are markedly restricted in your ability to perform the basic activities of daily living.

Don’t be discouraged by CRA’s statement and assume you don’t qualify. Many individuals have been living with their impairment for so long, that sometimes they forget the extra effort required for day-to-day activities. Get a professional opinion before discounting either yourself or a loved one.

So what does the CRA mean by prolonged impairment, markedly restricted, basic activities of daily living, and Life-sustaining therapy?

  • Prolonged impairment means that the impairment has lasted or can reasonably be expected to last for a continuous period of at least 12 months.
  • Markedly restricted means that all, or almost all of the time, even with therapy and the use of appropriate aids and medication, you are unable to perform a basic activity of daily living. Or it takes you an extremely long time to do so.
  • Basic activities of daily livingare walking; speaking; perceiving, thinking, and remembering; hearing; feeding and dressing; and eliminating bodily waste.
  • Life-sustaining therapy means you must meet the following conditions:

1. You receive the therapy to support a vital function, even if it alleviates the symptoms. Examples of this therapy are chest physiotherapy to facilitate breathing and kidney dialysis to filter blood. However, implanted devices such as a pacemaker, or special programs of diet, exercise, or hygiene do not qualify.

2. You have to dedicate time for this therapy – at least 3 times a week, for an average of at least 14 hours a week (do not include time needed to recuperate after therapy, for travel, medical appointments, or shopping for medication). Time dedicated to therapy means that you must be required to take time away from normal, everyday activities in order to receive the therapy. The time it takes for a portable or implanted device to deliver therapy is not considered to be time dedicated to therapy.

For 2005 and later years, where the life-sustaining therapy requires a regular dosage of medication that needs to be adjusted on a daily basis:

  • The activities directly related to determining the dosage are considered part of the therapy, except for those activities related to exercise or following a dietary regime, such as carbohydrate calculation; and
  • The time spent by primary caregivers performing and supervising the activities related to the therapy of a child because of his or her age is considered to be time dedicated to this therapy.

In 2006, CRA quietly slipped in a new definition, “Significantly restricted” which means, according to CRA, that although you do not quite meet the criteria for markedly restricted, your ability to perform a basic activity of daily living is still substantially restricted.

Who writes this stuff? No wonder people are confused and frustrated trying to make a DTC claim! Give us a call. We can make this process painless.

Frequently Asked Questions

How does Solution One get paid?

Our company charges a service fee based on the time we spend on a file and the number of adjustments required. This distinguishes us from other companies that charge up to 30% of your refund. 

Can I file the DTC myself?
Absolutely. Like most government programs, they are designed to allow you to complete them on your own. As with your income tax return, you can file it yourself or have it completed by a professional. Of course, we are a little biased; we work in this field daily and it is our job to maximize your refund while making sure there are no flags raised for CRA.

How long does it take to get my refund?

Most clients will receive their refund in less then 90 days. Some of the refund years can be electronically transmitted. These e-filed adjustments can arrive as soon as 2 weeks. There are some cases that can take longer - up to 6 months depending on CRA’s backlog. 

How do I get the money?
CRA either sends you a cheque or Direct Deposits your refund. We can assist you to setup a Direct Deposit if that is your preference.

Why didn’t my accountant or the Government tell me about the DTC?

Your Accountant does not specialize in this area of work. We see this everyday. A new client comes to our office and, after asking some questions, we end up recommending the DTC to them. They are usually shocked that they didn’t know or weren’t told about this before. Most of the claims our office processes (80%-90%) cover 10 years. This is a result of accountants or tax preparers not asking the right questions. As for the Government, they do announce their programs; they don’t have the resources to inform every Canadian about each program. So it’s up to you or your representative to get the appropriate information.

Will this affect my eligibility for ODSP?
No. This has no effect on your eligibility for ODSP.

If the disabled person is deceased, can a family member still apply for this credit/refund?
Yes. As long as the person has not been deceased longer than ten years.

           

What if I owe money to the CRA or other government programs?
The CRA will first pay off your debts and then send you the balance.

My doctor said I don’t qualify as disabled, is he correct?
Not always. Your doctor is trained in the area of medicine and is generally not an expert when it comes to the DTC or the tax rules. Also note that what your doctor considers a disability doesn’t usually apply to the DTC.

I am not severely disabled; can I still apply for the DTC and related credits/benefits?

Yes. If you or someone you know applied in the past and were turned down, it may be a different situation today. CRA rules have changed. In the past you needed to be in a wheelchair or to have some other severe disability to qualify; todayCRA has deemed eligible many conditions that were previously not accepted.

I do not have any taxable income because of my disability. Do I still qualify?

Yes. Eligibility for the DTC is not determined by your annual taxable income. The DTC can be transferred to supporting family members to reduce their taxes payable. Other benefits include:

  • Qualifying for the RDSP;
  • The DTC exempts you from the “first time home buyer” requirement to use your RRSP for the Home Buyers’ Plan;
  • The Child Tax Benefit is increased by the Child Disability Benefit (CDB) for children who qualify for the DTC;
  • New for 2009, the Home Buyer Credit Amount of $5,000 is available for the purchase of a home for people with disabilities;
  • Renovations to a home inhabited by a person with a disability may be claimed as a medical expense; and
  • If your working income is low you may qualify for the WITB disability supplement.

How much can I potentially get?
This of course varies with every client. A basic DTC claim for an Adult able to claim back 10 years can be as much as $13,000; for a child, as much as $21,000. Recently we completed some work for a family of four. One spouse and two children were eligible for the DTC. Not all were eligible to go back the full 10 years, but by the time we were finished the DTC & CDBS, credits amounted to over $70,000 in refunds. They also receive an extra $4,000 in CDBS as long as the children qualify and $7,000 of tax savings annually. Not bad for a family that knew nothing about the DTC before coming to us.

 

Note: call us for updated details as CRA changes the rules from time to time.

 

Serving Clients in Kemptville, North Grenville, Prescott, Brockville, Ottawa Ontario and nationally.

*New - We have a Drop off mail slot in our back door for after hours drop offs

Start a Conversation

All of our services start with a free consultation. To see if we're a good fit for you, schedule yours today.

613-258-9492
1-888-725-1408

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From Our Clients

Ed & Heidi Oser, Kemptville ON
“We were very pleased with the quick and accurate completion of our tax returns.
In the past few years we always had to wait at least 3 weeks to g...
Tom & Polly Beach, Kemptville ON
“We were very pleased with the quick and efficient service.
Both the reasonable cost and larger tax refund were added bonuses.”
Cindy & James Merkley, Kemptville ON
“Solution One was very quick & accurate with our taxes. They answered any questions we had. Their prices were comparable to other agencies.”