Do you find taxes taxing? A well-established financial advisory service has just opened a branch in Innisfil and it may be able to take the stress out of the process for you.
Several employees and local dignitaries marked the official opening of a new Fernhill Tax and Advisory Services office at 1081 Innisfil Beach Rd., unit 102, last week.
Fernhill has 11 offices and more than 50 employees across Ontario and the company has been in existence for more than 15 years. It offers a variety of financial services to individuals and small businesses.
“When we look at small businesses, what is it they require?” Fernhill Associates partner Charan Kumar said, noting the branch’s unique location attached to a Pharmasave drug store. “We’re financial doctors. Each business has certain strengths. Where they need support, we fill in the gap … and take it off the shoulders of the entrepreneurs so they can focus on what they do. Our offices are open throughout the year and fully staffed. We’re planning to grow.”
Fernhill can offer businesses help with managing cash flow, payroll and bookkeeping, finding the right employees and grants, and preparing and planning for tax season, he said.
This branch will offer a valuable service to the community, Mayor Lynn Dollin said.
“We’re so thrilled you chose Innisfil,” she told employees prior to a ribbon cutting. “We’re very happy to have you here. Our job is not to get in your way, but to get behind you and support you.”
Of course, with a filing deadline of April 30 approaching for most residents, many have begun to focus on their personal income taxes as well. Charan emphasized the need for people to become financially literate, and Fernhill can help by offering education opportunities.
According to Charan, these are a few of the most frequent issues the company sees individuals struggling with:
- Make your mortgage payments more frequently. Even going from monthly to bi-weekly can reduce interest charges and “add up” over time.
- Consider investing your tax refund in RRSPs or other long-term savings plans. While an initial investment can be intimidating, it’ll be worthwhile years down the road.
- Don’t be intimidated by the Canada Revenue Agency (CRA). While there is a perception that agents are “harsh," they will often work with residents who owe money to find a solution. When in doubt, a company like Fernhill will act on a client's behalf.
- Be “tax intelligent,” because “fear of the unknown” often costs people money. Little intangibles, like keeping a rent receipt, will pay dividends if the CRA ever asks you to prove a claim.
For more, visit fernhill.co or call 705-617-9975.
