Business managers maintain many responsibilities in both the day-to-day and long term planning of an organization. This ranges from corporate strategic management through to product/service delivery, and usually means there are a lot of decisions in between.
As accountants we often find ourselves answering the same question again and again, and rightfully so. As specialized professionals, with expertise that stretches beyond the common understanding of “accounting”, I think we might take this simple question for granted, almost as though we have become desensitized by its relevance over the years.
As one might imagine, the business succession planning process is incredibly involved. But planning in the right manner, with the right team, can add significant value to your transaction. This value will be realized in the form of transaction price, as well as the speed and ease of the process you experience as exit your enterprise.
Finance Minister Charles Sousa tabled the Ontario Budget on April 27, 2017. The deficit for the 2016-17 fiscal year is projected to be $1.5 billion, with a balanced budget projected for 2017- 18, 2018-19 and 2019-20. The Budget does not include any changes to Ontario’s personal or corporate income tax rates. Measures Affecting Individuals Personal […]
Develop a strategy for distributing earnings and reducing corporate income taxes. For most owner-managers, their goal is to create personal wealth through the operation of a successful business. Unfortunately, corporate and personal tax liabilities (among other things) stand in the way. Owner-managed businesses must struggle with tax on two fronts:
Tax Tips and Traps
This edition of Tax Tips and Traps identifies changes to reporting, requirements for deduction, taxable benefits and more