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Business advisory services Transaction services Valuations Audit and accounting Private enterprise Indirect tax Tax advisory
Farm corporations: you don’t need to “go all in”
Accountants regularly advise of the tax and accounting benefits available to corporations. But there remain some producers who are reluctant to take the next step and incorporate their farm operations. With some recent harvest reports of higher than average yields, it is time once again to look at the pros and cons of incorporating.
Sep 21, 2018
02 AR
Don’t dive into the shallow end of the TOSI income pool
In recent Tax Alerts we discussed the tax on split income (TOSI), which limits income-splitting techniques involving private corporations by taxing amounts received at the highest marginal tax rate. The rules are complex and, to date, the Canada Revenue Agency (CRA) has provided only limited guidance on their application.
Tony Alberton Sep 17, 2018
48 PEOPLE
International Tax advisory
Infographic: U.S. taxes for American citizens living abroad
In December 2017, U.S. lawmakers passed the Tax Cuts and Jobs Act, the most comprehensive U.S. tax reform in more than 30 years. This infographic offers a basic guide to recent changes that may be applicable to U.S. citizens living abroad.
Sep 12, 2018
Publications-Infographic: U.S. taxes for American citizens living abroad
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How to remain compliant when not acting at arm’s length
For tax purposes, the Canadian Revenue Agency requires businesses to complete all transactions at fair market value, but some businesses find themselves making special arrangements with family, friends or others. By not acting at arm’s length, they may wind up with understated revenue, overstated expenses and/or unrecorded tax liabilities. Any error in this area is subject to reassessment, which can be an extremely expensive process.
Sep 12, 2018
47 PEOPLE
Tax advisory Succession and estate planning
Tax-deferred capital distributions from discretionary family trusts
Discretionary family trusts are used extensively for tax, family and succession planning, as they afford enormous flexibility. In most cases, when such trusts are created, beneficiaries do not pay for their interest, and this assumption is made herein. Once a trust is settled, it will exist until all the assets are distributed to the beneficiaries and the trust is wound up. 
Bill Crowther Aug 30, 2018
117 PEOPLE
International Tax advisory
Voluntary disclosure of foreign assets
The Internal Revenue Service (IRS) has announced it will begin to wind down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close it entirely on Sept. 28, 2018. 
Shawn Strandberg Aug 24, 2018
17 AERIAL
6 key considerations when purchasing a dental practice
In recent years, there has been a surge in the buying and selling of dental practices. The inherent goodwill of a practice, the move towards regional and national consolidation and the availability of 100 per cent financing make the decision to buy that much more attractive.
Aug 15, 2018
05 HL
Transaction services
Avoiding and Getting Off of The TOSI Highway
On July 18, 2017 the Federal Finance Minister announced proposals to change the tax rules related to income splitting using private corporations. The original proposals were subsequently withdrawn in October, re-released in December and after further changes the proposed legislation was included in Bill C-74 in March 2018. Bill C-74 received Royal Assent on June 21, 2018 and the new tax on split income (TOSI) rules are now in effect as of the beginning of 2018.
Jul 30, 2018
95 AERIAL
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. The advice you receive will help in the strategic structuring of your business, which can go a long way toward minimizing your future tax obligations and put you in a better financial position moving forward. But before you meet with an advisor, here is an overview of the key questions you should keep in mind when buying or selling farmland.
Jul 12, 2018
Farm Series ( use going forward)
Business advisory services Transaction services Valuations Audit and accounting Private enterprise Indirect tax Tax advisory
Business valuations 101 – Redundant assets: to be, or not to be?
There are numerous components that go into valuing the assets of an active business. In simplified terms, those components can be characterized as the value of normalized discretionary cash flow plus redundant assets. In this article, we will be discussing two of the more common redundant assets that business owners frequently do not realize exist within their organization.
Chris Russell Jul 11, 2018
On The Mark-Business valuations 101 – Redundant assets: to be, or not to be?
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