Pal's extensive experience includes audit, accounting, tax, and business advisory services for a diverse client base. His industry expertise includes transportation, inbound and outbound logistics, retail and wholesale distribution, pharmaceutical, farming, manufacturing, real estate syndication and development, real estate construction, technology, and professional practices. Pal has facilitated several purchase and sale transactions and has assisted clients in obtaining various types of financing.
He is also our in-house U.S. tax expert and heads our firm's U.S. tax practice. With 14 years of experience in Canada / U.S. cross-border tax work, his practice focuses on serving U.S. citizens living in Canada, Snowbirds, Expats, Canadian entities operating in the U.S., or connected U.S. entities doing business in the U.S. or in Canada. He is expert in planning for mergers and acquisitions, repatriation of assets, and tax structures that allow his clients to efficiently conduct their U.S. activities. In addition, he is an agent of the U.S. Internal Revenue Service, authorized to assist in the filing of W-7's and in obtaining both U.S. individual (ITIN) and employer (EIN) identification numbers.
An active member of the Indo Canada Chamber of Commerce, in 2009 Pal was recognized by the Chamber as a Member of the Year. He is a member of the Canadian Tax Foundation, The Mississauga Board of Trade, and the Brampton Board of Trade. He is also a founding member of the Sikh Sub-committee of the William Osler Foundation, which raised millions of dollars for the Brampton Civic Hospital.
In September 2013, Pal was appointed as a Member of the Board of the William Osler Health System Foundation. Ontario's largest community hospital, Osler serves a population of over 1.3 million people living in one of the fastest growing and most culturally diverse regions of Canada. William Osler Health System Foundation is a registered charity devoted to raising funds for William Osler Health System: Etobicoke General Hospital, Brampton Civic Hospital, and Peel Memorial Centre for Integrated Health and Wellness.
Assurance Services
- Private Company Audits and Reviews
- Not-For-Profit Reporting
- Reports on Internal Control Procedures
- Condominium Corporation Audits
- Governmental Compliance Audits
- Compliance with Agreements/Contracts
- Royalty or Sales Audits
- Special Reporting for Financial Institutions, Lenders, Surety and Bonding Institutions
- Compilation Engagements for Corporations, Partnerships, and Self-employed Individuals
Tax Preparation and Planning Canadian Tax Compliance
- Tax Compliance and Preparation of Returns for Resident and Non-Resident Individuals, Corporations, Trusts, Not-For-Profit Agencies, and Partnerships
- Commodity Tax Compliance including HST, Customs Duties
- and Excise and Special Levies
- Payroll-related Tax Compliance such as WSIB, EHT, Payroll Withholdings
- Applications Scientific Research & Experimental
- Development and Other Grants
Canadian Tax Planning
- Owner/Manager Compensation Planning
- Corporate Reorganizations and Succession Planning
- Transactional Tax Planning
- Tax Considerations in Matrimonial Settlements
- Estate and Post-Mortem Tax Planning
- Departure Tax Planning
Other
- Client representation during tax audits by any level of taxation authority
- Representation of clients who are contesting an unfair assessment by a Taxation Authority – up to the Tax Court of Canada (informal procedure)
- Submissions of Voluntary Disclosures to the Canada Revenue Agency and to other Taxation Authorities
U.S. Tax Considerations
- U.S. Individual 1040 or 1040 NR Returns
- U.S. Federal Corporate and Partnership Tax Returns
- U.S. State Tax Returns
- Nexus Reviews
- Transfer Pricing Issues
- U.S. Estate Taxes and Trusts
- Structuring a business entry into or exit from the United States
International Considerations
- Treaty-based Returns
- Business Immigration
- Consulting on Tax Treaty Issues
- Consulting on Tax Residency Issues
Estate and Business Succession Planning
- Establishing an Exit Strategy – Are You Ready?
- Succession Planning – Transfer of Management
- Business Valuations
- Appointments as Trustees and/or Executors
- Financial and Retirement Planning
Management Consulting and Business Advisory Services
- Financial Statement Analysis
- Financial Projections and Forecasts
- Financing Arrangements with Financial Institutions and Private Lenders
- Shareholder Agreements
- Development of Business Plans
- Cash-flow Management
- Strategic and Corporate Planning Advice
- Interim CFO Services
- Accounting System Reviews and Conversion Support
Corporate Finance
- Business Start-Up Packages, Financings, Acquisitions or Sales
- Mergers, Acquisitions, and Divestitures
- Transactional Due Diligence
- Buy-Sell Agreements
- Transaction Management, Closing and Post-Deal Support
