Our taxation services are designed to work with small business owners and their families to maximize shareholder wealth while staying compliantn with the constantly evolving Canadian tax system.
Tax Services for
Business Owners
Our taxation services focus on incorporated business owners and their families, ensuring corporate and personal tax matters are properly integrated, while identifying opportunities for effective tax planning.
Corporate & Personal Tax Services
Running an incorporated business involves more than simply filing tax returns. Corporate and personal tax matters are closely connected, and decisions made within the corporation often have direct implications for the shareholder’s personal tax position.
My role is to ensure these relationships are properly coordinated. This involves preparing corporate and personal tax returns and providing guidance on matters such as shareholder compensation, allowable deductions, and other planning considerations that may occur during the year. Reviewing the corporate and personal positions together helps identify appropriate planning opportunities while maintaining compliance with Canada’s tax legislation.
Who We Work With
Personal tax services are reserved for corporate clients and their families as part of the overall corporate engagement.
Stand-alone personal tax preparation services are not offered.
Corporate Year-End & Tax Compliance
For most business owners, the starting point is the annual corporate year-end engagement. This includes the preparation of financial statements together with the corporate income tax return. The objective is not only to file the return correctly, but also to review the financial results and ensure appropriate planning between the corporation and the shareholders.
Typical engagements include:
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Compilation engagement financial statements
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Preparation of the corporate income tax return (T2)
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Review of the company’s financial results
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Coordination with your bookkeeper where required
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Assistance responding to routine CRA correspondence
Personal Tax Preparation for Shareholders
Personal tax returns for shareholders are typically prepared as an extension of the overall corporate engagement. Coordinating the corporate and personal tax filings helps ensure that income received from the corporation is reported correctly and that planning opportunities are considered each year. This integrated approach provides a clearer picture of the business owner’s overall tax position.
This often includes reporting items such as:
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Salary and dividend income
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Shareholder loans and related reporting requirements
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Investment income and deductions
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Tax instalments and balances owing
Beyond the Tax Return
Many business owners require guidance beyond their annual tax return.
Planning discussions and strategic consultations provide the opportunity to review business decisions and understand the potential tax implications before they are implemented.
Year-End Tax Planning
Year-end planning is typically performed before the fiscal year-end so that planning opportunities can be implemented while options are still available.
Common planning discussions include:
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Salary versus dividend strategies
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Timing of bonuses to shareholders
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Capital asset purchases
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Shareholder loan balances
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Estimated corporate tax obligations
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Planning for future business transitions
Planning meetings are generally scheduled in advance of the year-end so that appropriate strategies can be implemented where necessary.
Strategic Tax Consulting
Business owners occasionally require advice before making significant financial or structural decisions. In these situations, a consultation can be scheduled to review the specific circumstances and discuss available options.
Common consultation topics include:
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Holding company structures
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Purchasing or selling a business
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Ownership changes between shareholders
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Capital gains exemption considerations
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Corporate reorganizations
Consultations allow business owners to obtain professional guidance before implementing major decisions that may have tax consequences.