Many of our clients have used their accumulated expertise and networks to transition from employment to self employment. We have helped them assess these opportunities and suggest the best structures.
Whether you pursue business ownership as a sole proprietor, a partnership or a corporation, we can help in a number of ways. For example, we can:
- Assist with determining the best structures for tax savings including remuneration of family members
- Explain relevant strategies if purchasing an existing business or practice
- Prepare financial forecasts and business plans based on a careful review of all tax, financial and marketing issues.
- Maximize your tax savings by choosing a proper year-end based on business cycle
- Identify and implement the accounting system and software best suited to meet your business needs
- Provide training to use your selected accounting system; Sort out HST (should you use the quick or regular method) and payroll issues
- Explain the tax implications of having a home office, using a company or personal vehicle, and employing family members
- Identify the best mix of remuneration between salary and dividends
- Assist with considering the most tax effective ways to fund life insurance, health plans, and other promotional activities