Owning and running a business is complicated. Adding to that is the complex, and ever changing tax rules that outline how the profits of the business are taxed, how funds withdrawn from the company are taxed, how family members are treated in relation to the business, how profits can and cannot be distributed and a host of other situations that arise.
While most owners often view the business as an extension of themselves, they are separate legal entities and if not handled properly, transactions that occur between them can result in significant taxes issues… which don’t generally come up until years after the fact.
Rise CPA tax advisors specialize in dealing with private Canadian companies – it is what we do. We work closely with the business owner to understand not only what the business objectives are but what the personal and family objectives are. After gaining an in-depth understanding, we then craft a personalized tax business and estate plan that maximizes the use of all available tax rules, minimizes your corporate and personal tax liability and is flexible enough to accommodate future changes in business and family dynamics.
By having upfront discussions about your business and family plans, we can ensure that transactions occur in the most tax-efficient manner leaving you the most money to reinvest in the business, invest in new business opportunities, diversify your holdings, or to spend personally. This discussion doesn’t just happen once. Business doesn’t stand still and neither do tax rules. Your tax structure needs monitoring to ensure you are always in the best tax position. We touch base regularly throughout the year and re-visit the structure and plan every few years to ensure it is the most robust and effective plan for you at any given time.
Our comprehensive corporate tax planning services can include:
- Corporate reorganization
- Business and financing structures
- Employee buy-ins
- Shareholder compensation strategies
- Acquisition strategies and structures
- Disposition strategies and structures
- Succession planning
- Capital gains exemptions planning
- Trust and estate planning
Your tax strategy is at risk as your business changes. Our disciplined and tailored approach to your tax program manages changes between your business and the tax laws. Growth and expansion can affect your tax program. Opening new markets and growing your business creates complexities. Processes and workflows involving revenue and expenses change. Leadership changes, technology upgrades, operational changes, financial upheavals and market expansion are all areas affecting your tax program. We proactively plan for your tax situation to get you the best result possible while not letting tax drive the business decisions.
Tax Planning Benefits:
We work to understand your vision and your goals. Our tax advisors work with you to learn your vision of your business. We learn what goals you want to achieve and devise a tax strategy that is flexible enough to grow and change as you meet those goals. Our tax specialists customize your tax plan. Each client works with our tax advisors to prepare a customized plan. Each business has different needs under the tax guidelines. Our experience is applied to your custom plan to lower your tax burden. We review your tax plan on a regular basis to ensure that your tax plan stays up to date as your business and family needs change.
No matter your business size or industry, you get the same high standards of service and attention from our tax services at Rise CPA. Understanding your vision and your goals is just as important to us as understanding the tax legislation that affect your business.