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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.

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How to avoid conflict in a family business

Running a business involves many moving parts, which makes conflict unavoidable.

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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.

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Farm corporations and claiming the small business deduction

Historically, the Government of Canada has supported the agricultural sector with favourable rules in the <em>Income Tax Act </em>(the Act), among other strategies. Recently, the government announced its intention to lower the small business tax rate from 10.5 per cent to 10 per cent, effective January 1, 2018, and to 9 per cent on January 1, 2019.

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Audit and accounting Data solution services Tax advisory

The tech-savvy era of cloud accounting – Risks and benefits

In today’s increasingly digital world, having tools and programs that are as advanced as those of the competition plays a critical role in the success of any business. Cloud computing allows businesses to access their data anytime and anywhere via an internet connection, while reducing the headache of managing accounting records and transactions.

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3 key disclosure areas in your year-end financial statements

If you are a controller or CFO preparing your year-end financial statements for shareholders, regulators and lending institutions, there are several disclosure items you should carefully consider. Over the last several years, accounting and securities regulatory bodies have had a great deal to say about this subject. The following three areas are especially significant.

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Overcome succession challenges facing your family business

Canada's succession planning rules can make it less costly from a taxation standpoint to sell a family business to a third party than to a family member.

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9 issues to consider when incorporating your farm business

In a 2012 article, I summarized a few of the major planning items that need to be considered before and after incorporating a farm business. Over the last five years, some of these issues have changed and some have stayed the same.

Thomas Blonde Nov 28, 2017

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How good records benefit your farm

Even if you run a successful farm business, there is probably room for improvement in your record-keeping. Good records provide a snapshot of your operation and a more precise sense of where your business is throughout the year.

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Improving the financial literacy of board members

For board members, understanding the organization’s financial position is a necessity for effective oversight, as well as a fiduciary duty. But when it comes to the financial discussions, we see many board members “zone out.” Without an appropriate level of understanding, the right questions may never be asked, potentially putting the organization at financial risk.

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Succession and estate planning

Pitfalls to consider in family business succession

We have been hearing it for decades: 30 per cent of family firms survive to the second generation and only 10 per cent survive to the third generation. This statistic is generally cited without context, implying that family firms are the business organizations that are most likely to fail, but that assumption is incorrect.

Peter Savoni Oct 31, 2017

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