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Every strong business starts with a strong transition
For anyone making the transition to self-employment, deciding whether to incorporate is a major decision. From a tax perspective, you should generally start thinking about incorporating when you have substantial funds that will be reinvested in the business annually and not need to be drawn out for personal use.
Jul 18, 2018
15 PEOPLE
8 questions to ask when buying or selling farmland
If you make the decision to buy or sell farmland without first talking to an advisor, you are likely to find yourself in a predicament that can be difficult (and costly) to resolve. With that in mind, never sign off on a deal without first sharing the particulars of your situation with an expert.
Jul 12, 2018
Farm Series ( use going forward)
Business advisory services Audit and accounting Private enterprise Tax advisory
Managing adjusted aggregate investment income
As outlined in the March Tax Alert, the 2018 Budget includes a measure designed to slow the accumulation of passive investments within active corporations. This measure is based on a calculation that considers both the amount and the type of investment income earned in a corporation. Understanding this calculation will guide an investor in developing a tax-efficient investment strategy going forward.
Scott Dupuis Jun 28, 2018
Tax alert (Use going forward)
Farmers in a loss position: consider your options
If you’re a farmer using the cash method to report income and claim expenses, you have flexibility in determining your taxable income on a year-to-year basis. For example, if you hold off on selling crop inventory, you can reduce your income in that year because you only have to record income when it is cashed in. In most cases, it is beneficial for farmers to estimate their cash income before the end of their tax year, as this allows them to plan for their taxes. 
Jun 19, 2018
Farm Series ( use going forward)
Private enterprise Succession and estate planning
Important issues in family succession of farm operations
When planning for the succession of your farm operation to the next generation, several important issues can arise. Some of the key issues include how the goals and objectives of key stakeholders align with your goals, how you will be spending your time in retirement, ensuring you have adequate financial resources in retirement and how to divide assets among your children, some of whom may not wish to be involved in the farm operation. There are many issues, and they will vary depending on your particular circumstances.
Peter Hobb Jun 15, 2018
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Modern leadership qualities you need to succeed
There’s a war for talent all over the world. Baby Boomers are rapidly retiring, and we have a severe labour shortage in Canada. As a result, the new generation of younger employees is becoming more and more empowered. They can decide where they work, when they work, how long they work, what they wear to work and how much you pay them to work.
May 16, 2018
15 PEOPLE
Transferring farm property from partnerships to individuals
Inter-generational farm transfers are common as succession plans. When parents transfer farms to their kids, they have rights that other business owners do not have. For example, if a farm or fishing property meets the criteria for a favourable intergenerational transfer, they can transfer at less than fair market value.
May 7, 2018
Farm Series ( use going forward)
Tech Central: Legal technology, AI, and the evolving role of the lawyer
Technological advancements and AI, or artificial intelligence, are affecting the business and legal worlds in increasing ways, challenging the tasks historically ruled by humans. From gaming to complex legal analysis, AI is rapidly making inroads to our daily lives.
May 1, 2018
Birdseye view of a dense, green forest.
Business advisory services Audit and accounting Private enterprise Tax advisory
Expand your structuring options: consider a limited partnership
While partnerships have existed for as long as people have been in business, their use in Canada has been relegated largely to certain industries and tax situations.
Feb 26, 2018
Vacancies Adobe Stock 273844408
How to avoid conflict in a family business
Running a business involves many moving parts, which makes conflict unavoidable.
Jan 31, 2018
07 AR
Use evidence-based HR to grow your organization
Human resources managers tend to be most concerned with acquiring staff, the exit of workers from the organization, training and development, the administration of pay plans, benefits and other traditional HR issues. What this emphasis overlooks is the overall strategy of the business, and how effective an HR team can be at supporting or enabling that strategy.
Dec 29, 2017
21 PEOPLE
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