Welcome to Jones & O’Connell LLP

Proudly serving the Niagara Region and beyond

Jones & O’Connell LLP, Chartered Professional Accountants operates out of St. Catharines, Ontario, Canada. We offer a wide range of financial services including: Accounting, Auditing, Corporate and Personal Tax Compliance and Planning, Financial Advice and General Consulting, to clients in various industry sectors across the Niagara Region, GTA and other geographic regions.

Jones & O’Connell LLP, Chartered Professional Accountants is a licensed public accounting firm and a member of: the Canadian Public Accountability Board, Chartered Professional Accountants of Canada, Chartered Professional Accountants of Ontario, The Institute of Internal Auditors and the Canadian Tax Foundation.

At Jones & O’Connell LLP, Chartered Professional Accountants we strive to be the number one resource for all of our clients’ financial needs. Our goal is to be the firm that clients can trust and rely upon to provide outstanding value in a cost effective manner. We welcome the opportunity to meet with you and discuss how we can develop a mutually beneficial relationship into the future.

The team at Jones & O’Connell LLP, Chartered Professional Accountants is ready to exceed your expectations!

Commentary

Tax Planning – It Doesn’t Stop at 65: The RRSP/RRIF Withdrawal Trap for Seniors

The minute you enter the workforce there is always someone out there, a friend, a loved one, a work colleague telling you that you have to plan for your retirement. You don’t have a workplace pension to fall back on, so you contact your financial advisor and then your accountant and you do some tax planning so that you can maximize your funds available for retirement. You worked and saved your entire life and now you want to enjoy it, and you should. But you need to be wary of the consequences when you tap into retirement savings accounts for such purposes.

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ACCOUNTING, AUDITING, TAX AND CONSULTING NEWS

Fixing a mistake in your tax return

By the end of April 2018, more than 20 million income tax returns for the 2017 tax year will have been filed with the CRA. And, inevitably, some of those returns will contain errors or omissions that must be corrected. When the error or omission is discovered the question is how to make things right. The first impulse is to file another return, in which the complete and correct information is provided, but that’s not the right answer. There are, however, several ways in which a mistake or omission on an already-filed tax return can be corrected. And this year, taxpayers have more options than were previously available to them in doing so.

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