Split Income between Business and Personal
We will prepare your corporate financial statements and income tax returns. We will also do Notice to Reader reports within the guidelines laid out by the Canadian Institute of Chartered Accountants, and the Institute of Chartered Accountants of Ontario.
We will advise you on the remuneration mix to the corporate owners (salaries versus dividends), and will assist you in planning your corporate finances in such a way that will minimize your overall taxes. Other strategies to consider – that we advise on – include:
- Splitting income among several family members or legal entities in order to get more of the income taxed at lower brackets
- Shifting income from one year to another in order to have it fall where it will be taxed at a lower rate
- Shifting deductions from one year to another to place them where the tax benefit will be the greatest
- Deferring income taxes through certain investment choices and pension plan contributions
- Structuring your affairs to obtain a tax deduction for some expenses paid for things you enjoy, such as a vacation home
- Investing your money, in safe investment vehicles, to generate income that is deferring, or exempt from, income tax
We work with high net worth individuals, family groups, pension plans, corporations and non-profit organizations to help them meet their specific financial goals.
Our greatest strength is our people. We provide senior experienced professionals with very strong specialized knowledge. We are affiliated with some of Canada’s leading independent law firms. By combining our skills and resources, we are qualified to deal with the complexity of tax and estate planning issues many people face. This cooperation enables us to generate a valuable synergy for our clients, which is not only uncommon but also necessary in today’s complex and rapidly changing financial arena.
Our experience in all areas of financial and estate planning enables us to pinpoint your needs. We are interested in helping you to fulfill your personal aspirations by devising a plan to get you there and then overseeing the process.