Jim McConnery

CPA, CA, TEP
Partner
Ottawa

“I appreciate the atmosphere at Welch, which is both professional and friendly. My colleagues have a great amount of expertise and provide invaluable service to clients. I have learned a great deal during my time with the firm; the experience has been enhanced by the opportunity to work with many of our long-term clients. We tend to have close relationships with our clients and, in many circumstances, are treated like family.”

Jim McConnery is a Tax and Estate Practitioner with a wide ranging expertise in tax, acquired through his 22 years of public accounting. Jim provides assistance to individuals and private companies with a particular focus on tax, estate and succession planning. A key aspect of Jim’s expertise relates to tax minimization strategies via family trusts – this includes income splitting strategies and multiplying access to the lifetime capital gains exemption. Jim also provides support in the context of the purchase or sale of private company groups.

Jim also assists corporate groups with both inbound and outbound structuring assignments. This includes planning to minimize tax with respect to foreign income and steps to minimize tax incurred when income is repatriated.

Jim also oversees compliance assignments which include withholding tax and foreign tax credit matters. Jim provides planning assistance to individuals with respect to both immigration to and emigration from Canada.

Jim joined Welch LLP in 1994 after graduating from the University of Ottawa, where he received a Bachelor of Commerce degree with honours in Finance. He received his CA designation in 1997. Jim was with a national accounting firm’s tax group for 10 years and returned to Welch LLP in 2007. He has been involved in educational programs for both CPA Canada and CPA Ontario.

Quick Facts

Education

Bachelor of Commerce, Finance, University of Ottawa

Specialties

Corporate and personal tax planning; succession and estate planning; tax

Favorite quote/ Words of Wisdom

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. Winston Churchill

Community involvement

Treasurer of a fundraising campaign for the Beechwood National Memorial Centre; former chair of the audit committee of Volunteer Canada

Hobbies/ talents

Golf and skiing

Favorite books (or authors)

Fifth Business, by Robertson Davies

Most memorable vacation

Family trip to the Bay of Fundy

Personal accomplishment/ most proud of?

Being a father of 4 daughters