Corporate income taxes are one of the big expense items for successful businesses. Effective corporate tax planning reduces taxes over the long run, not just for the business owner, but for the entire family unit.
Let us take care of the tax planning. The business owner can focus on expanding and growing his business.
Common Tax Issues:
- the optimal amount to draw from the corporation
- pay wages or dividends
- income splitting options with family members
- dividends to adult children attending University
- share classes and shareholdings
- buy RRSP or pay down the mortgage
- hold investments in the company or personally
- corporate tax and HST instalments
- timely payroll remittances
- filing corporate tax and HST returns
- timely filing of T4, T5, and T3
- SR&ED credit claims
- Capital dividend election
- Tax free rollover of assets into a corporation
Learn more about Corporate Tax Planning from our Blog posts:
+How to Pay Yourself?
+To Incorporate or Not
+Capital Gains Deduction for Canadian Business Owners
Tax Planning for Canadian Self-Employed Businesses:
+Tax planning spreadsheet for Canadian self-employed business
