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 “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
• S. Federal Corporate and Partnership Tax Returns
• S. State Tax Returns
• Nexus Reviews
• Transfer Pricing Issues
• 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

About Us

Our main office is located in Mississauga, Ontario, Canada, we have over 25 years of experience as accountants and business advisors.

Our firm provides a full range of services to business and professional clients, and individuals and their families in Canada, the U.S., and abroad.

As advisors, we have developed and continue to maintain a reputation for providing quality and reliable solutions and assurance services to our clients. With extensive knowledge of today’s technology, we can help determine the right solutions.

We have built a reputation for being reliable and solution-oriented advisors to our clients.

Our goal is to assist our clients to become financially wealthy and successful—as they characterize wealth and success. This requires us to have an in-depth understanding of Canadian, U.S., and International taxation, financial and management accounting/reporting, and wealth preservation and management.

We are committed to bringing exceptional value to our clients through up-to-date knowledge of today’s changing economic and business conditions.

“CREATIVE THINKING BEYOND NUMBERS”

Industries We Serve

Ghumman & Partners LLP offer a variety of services to a host of industries. Our “hands-on” management consulting responsibilities have assisted our clients in the development and performance of their businesses. The diversity in the range of industries we serve stems largely from the size of our firm, which has allowed employees to specialize in various areas and to become highly skilled in their respective fields.

We are experienced in working with the following Industries:

Brokerages

• Real Estate Brokerage
• Insurance • Travel

Construction and Real Estate Development

• Commercial/Industrial
• Real Estate Syndications
• Design
• General
• Paving
• Utilities
• Waste Management

Educators and Schools

• Vocational
• Tutorials

Farming

• Horse Breeding
• Produce
• Tree

Financial Services

• Equity Investors
• Leasing (Vehicle and Equipment)
• Mortgages (Commercial and Residential)

Franchising and Franchisee Operations

• Optical
• Restaurant
• Grocery

Hospitality

• Catering
• Hotel • Restaurants
• Nursing Homes

Human Resources

• Staffing and Placement, Executive Search

Information Technology

• Web Media and Marketing
• Internet-based and Development

Manufacturing, Processing, and Distribution

• Apparel
• Automotive
• Dental Laboratories
• X-Ray Laboratories
• Food Products
• Packaging and Equipment
• Pharmaceutical and Cosmetics
• Produce
• Sheet Metal
• Storage • Tobacco

Not-for-Profit

• Temples, Churches, and Gurudwaras
• Sports Clubs
• Food Banks

Professionals and Professional Corporations

• Doctors
• Dentists
• Lawyers
• Physiotherapists
• Chiropractors
• Registered Nurses
• Janitorial and Maid Services
• I T Engineers
• Real Estate Agents

Retail and Consumer Services

• Apparel
• Cycling
• Furniture
• Hair Salons and Spas
• Optical
• Restaurants
• Coffee Shops
• Translations

Transportation

• 3rd-party Logistics
• Air, Trucking, Container