Tax Consulting

consultingFarm and small business consultation is critical to ensure that your personal tax strategy is continually updated to reflect your changing business situation and personal goals.

In addition to the services we provide during your annual tax appointment, we have knowledgeable small business consultants whose expertise can help you when considering important business decisions throughout the year.

What is Small Business Tax Consulting?

There are many tax advantages to owning your own small business; however, the Income Tax Act is a very complex document open to many interpretations. You need to be sure you structure your business appropriately and ensure you operate your small business in a way that minimizes your taxes and maximizes your assets.

Be sure to discuss with a small business consultant who specializes in taxes before you deal with complex issues such as the following:

Small Business Structure for Tax Optimization

  • Sole Proprietorship
  • Partnerships
  • Incorporation
  • Joint ventures
  • Trusts

Purchase and sale of assets

  • Maximizing credits on purchase
  • Maximizing after-tax proceeds on sale
  • Lease vs. purchase analysis
  • Availability of principal
  • Residence exemption
  • Allocation of sales price between assets
  • Availability of capital gains deductions

Farm and Small Business Sales (Including Auctions)

  • Fulfillment of your personal goals
  • Maximizing after-tax proceeds now and in the future
  • Availability of capital gains deductions on sale of shares
  • Availability of principal residence exemption
  • Sales of shares or assets (for corporations)
  • Allocation of sales price between assets
  • Timing of sales
  • Obtaining adequate security
  • Succession plans

Farm and Small Business Transfers/Rollovers to Family Members

  • Fulfillment of your personal goals
  • Optimizing adjusted cost base for seller and buyer
  • Maximizing after-tax proceeds now and in the future
  • Reviewing the tax aspect of wills
  • Accessing financial and estate planning support to fairly balance family interests
  • Availability of principal residence exemption
  • Sales of shares or assets (for corporations)
  • Allocation of sales price between assets
  • Timing of sales
  • Obtaining adequate security

Business structure on dissolution or reorganization

  • Maximizing after-tax proceeds
  • Availability of capital gains deductions on sale of shares
  • Ensuring your personal wishes are addressed
  • Removing assets from a partnership or corporation

When you're looking for small business consulting, we'll meet with you at your place of business, home or another location that is convenient for you.

Book a meeting with your Local Tax Consultant

"I like that FBC makes house calls. The staff provides quality, trusted service."
- Brooke Timmons, Creemore, ON