Baker Tilly Canada | Insights

Insights

Old MacDonald Had A Farm... Corporation?

When it comes to farming, one of the most frequent questions we get has to do with whether it makes sense to incorporate a farming proprietorship or partnership. While every case is unique, in many cases the advantages of incorporation far outweigh the disadvantages.

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Succession planning

With the continuing increase in farmers' ages and farmers 35 years and younger comprising less then 10% of the population, more and more farmers are starting to have to consider retirement and what they will do with their family business. Should they sell it or can they pass it on to future generations? This is an important decision and one that affects the whole family.

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Funding post-secondary education costs

In a few short weeks, summer will draw to a close and thousands of college and university students will return to school.

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Employing minor children

One of the ways business owners or professionals can reduce their overall tax burden is through income splitting, including paying salaries to other family members who are in lower tax brackets. Knowing the extent to which you can include family members in the income stream will help minimize the tax burden for your family.

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International Tax advisory Transfer pricing

The battle to repeal U.S. estate taxes

The U.S. estate tax was created to redistribute what former U.S. President Theodore Roosevelt described as "the swollen fortunes which it is certainly of no benefit to this country to perpetuate."

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Tax planning for legal professionals

As a professional, you encounter many wealth management issues on a regular basis. One such issue that is frequently overlooked, however, is tax planning. For most professionals, a strategic tax plan can translate into many opportunities to minimize taxes and maximize wealth.

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The management imperative

A leader can be forgiven for doing the wrong thing on occasion. But what about failing to manage at all?

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Charitable contributions: Get some bang for your buck

Some firms make charitable contributions solely because they believe in giving back to the community. If this is the case with your firm, take charitable contributions out of the business development budget.

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Tech central: Managing the email monster

Are you overwhelmed by the volume of messages in your e-mail inbox? Are you spending more time managing your e-mail than actually working? You're not alone. With many lawyers and professionals receiving 100 or more work-related messages per day, it can be easy to drown in that electronic sea. But there are ways to help manage the e-mail monster.

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The value of an apology

Making an apology has never been an easy thing to do, whether it is in business, politics, a courtroom, or in our personal lives. But recently, the government of British Columbia joined a growing list of jurisdictions worldwide in making it a little easier to apologize.

A scenic wooden pathway winds through the lush, towering trees of MacMillan Provincial Park on Vancouver Island, British Columbia, Canada.

Giving your employees the option - Part II

In our last issue of Tax Alert, we considered employee equity participation in private corporations, including issuing stock and granting stock options. This article follows up with more ideas on involving employees in ownership.

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