Business Tax Strategies
Taxes are a fact of life
They affect everyone in almost everything they do — whether it’s earning an income, making a purchase, owning property, investing, running a business, or transferring your estate, taxes are part of it.
While the Income Tax Act was created specifically to ensure that everyone pays their fair share, it also affords all taxpayers the right to organize their financial affairs in such a way so as to minimize their taxes whenever and however possible within the legal confines of the Act. That is the objective of tax planning, that is how we help.
Don’t wait till taxes are due
The biggest mistake many people make is to wait until taxes are due. Throughout the year there are many financial decisions that can be made that could significantly impact the amount of taxes owed. For a business, minimizing the tax liability can provide more money for expenses, investment, or growth. Planning and monitoring during the year will make a difference with your taxes come the end of the year.
Develop a strategy specific to your needs
At its core, tax planning is the process of organizing finances in such a way to take advantage of the many rules that allow you to maximize the amount of income you keep each year. While the process is essentially the same for any taxpayer or business, it may entail different types of tax strategies depending on your particular situation. Strategies for deferring or splitting income, deferring or maximizing retirement contributions, capital gains or losses, property ownership, dividends vs payroll, how your business is organized or succession planning can be different in each situation. So the strategy must be developed specific to your needs and goals.
- Audit & Appeals Assistance
- Business Restructuring
- Corporate Reorganization
- Corporate Tax Planning
- Strategic Planning
Contact Us Today
Call today to start your tax strategy planning.