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Large farms, beware of this tax trap
Many incorporated family farming operations in Canada are able to use a 15 per cent corporate income tax rate on the first $500,000 of income. They do this by using a Small Business Deduction to reduce their corporate tax rate from the standard 26.5 per cent tax rate. This Small Business Deduction only applies to small farming operations. To be eligible for this lower 15 per cent tax rate, farm corporations must be under $10,000,000 to $15,000,000 of capital. This capital amount is approximately equal to the cost of all of your corporation’s assets.
Dec 8, 2016
Older promotion-Larry Batte
Tax advisory
The small business deduction
The small business deduction has been the focus of much attention recently, with perceived abuse of the available deferral provided to corporations. Of particular concern are corporate and partnership structures that work around the existing partnership and association rules to multiply their small business deductions. In response, the 2016 Federal Budget has taken steps to close these gaps in the legislation and limit the use of the small business deduction to its original intention.   
Scott Dupuis Nov 30, 2016
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Corporate finance International Tax advisory
Year-end Tax Planner: Looking back at 2016 and forward to 2017
<strong>Topics include: </strong> <ul> <li>Federal and Provincial Highlights;</li> <li>Entrepreneurs;</li> <li>Personal and U.S. tax matters;</li> <li>International matters;</li> <li>Key tax dates</li> </ul> <br /> <em>*Updated on January 4, 2017</em>
Nov 29, 2016
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Changes in quota rules for corporate farming businesses
For farmers, the quota system is in place for supply-managed commodities. In Canada, that includes milk, eggs, chicken, turkey and hatching eggs.
Nov 29, 2016
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Law firm succession planning: retaining firm revenue while transitioning knowledge and relationships
It has been called the “pig in the python” – a graphic image of Canada’s Baby Boom generation that has moved through time and is now nearing retirement. Law firms that manage this outsized demographic wave well can position themselves to maintain their revenue streams, transition knowledge and relationships and preserve partner equity. Firms that do not take action may lose revenue and equity when partners leave for other firms or retire, causing the partner’s client relationships to be lost to the firm.
Nov 23, 2016
Birdseye view of a dense, green forest.
Three tactics to help you own your law firm brand
The 2016 Summer Olympics are now in the past, but throughout the event it was made clear who could and could not use the very protected Olympic brand and <em>how</em> permitted entities could use it. Over the past two decades, the International Olympic Committee (IOC) has developed a growing list of guidelines for the use of its brand, a list that has stretched beyond the name and iconic five-coloured rings. For example, the IOC has added keywords and specific hashtags to the list, such as #Rio2016 and #TeamUSA. If you were not a full sponsor this year, you were excluded from using any of these items during a specified time period before, during and after the event.
Nov 23, 2016
Birdseye view of a dense, green forest.
Five things lawyers hate to hear clients say
In situations involving you and your client, the adversarial system is your worst enemy. The only win is a long-term client relationship that is sustainable. A short-term victory gained by your legal swordsmanship almost guarantees a failure on that score. Although certain things clients say are sure to get your dander up, I respectfully suggest you put the sword away and try a response designed to maintain the relationship.
Nov 23, 2016
Birdseye view of a dense, green forest.
Nine emerging truths about legal service delivery
The market for legal services in Canada is changing in ways that not every lawyer will like and that no one in the legal profession can control. Global shifts in legal service regulation, the rise of new competition for our clients’ business and extraordinary advances in technology are placing enormous pressure on lawyers. What’s more, this unprecedented and potent combination of forces is taking place in the shadow of great economic turmoil and growing public impatience with our access to justice failures. If you’ve ever wondered what a “perfect storm” of change might look like in the law, this is it.  It is time for lawyers to look past the narrow confines of “the legal profession” and see the larger, multi-faceted “legal market” of needs and opportunities. It is also time we fully understand some crystallizing truths about legal service delivery in this new market. Here are nine for your consideration. 
Nov 23, 2016
Birdseye view of a dense, green forest.
Transaction services Audit and accounting
CPA Canada’s new review engagement standard on historical financial statements
CPA Canada has issued Canadian Standard on Review Engagements (CSRE) 2400 Engagements to Review Historical Financial Statements. This new standard replaces existing standards for review engagements, including Section 8100 (General Review Standards), Section 8200 (Public Accountant’s Review of Financial Statements), Section 8500 (Reviews of Financial Information Other Than Financial Statements), as well as Assurance and Related Services Guidelines 20 and 47. This will be effective for reviews of financial statements for periods ending on or after December 14, 2017. Early application of CSRE 2400 is not permitted. This publication will address the key changes to review engagements that will impact users of the financial statements, including shareholders, investors, those charged with governance, management and other stakeholders.
Nov 23, 2016
On The Mark-Original
Infographic: Meet our U.S. Tax team
U.S. Tax experts are closer than you think.
Nov 22, 2016
Publications-Infographic: Meet our U.S. Tax team
6 steps to improve strategy execution
Companies attempting to develop realistic, achievable strategies – and execute them – often rely on SWOT analysis: strengths, weaknesses, opportunities and threats.
Nov 22, 2016
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