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Entrepreneur and Family Offices


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By now, you probably have a compelling urge to clean out the paperwork that's been accumulated up to Tax Day.

Follow the Yellow Brick Road

On: 2016-06-03 11:28 

Cash flow projections build a roadmap to success

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We often hear about the importance of planning, and the message is usually right! If we don’t decide in advance where we want to go, how are we going to get there? Sure, we all have thoughts about growing our business, with hopes about where we want it to be in 1,2,5, and 10 years, but are these really “plans” in the true sense of the word? Not unless they are supported by detailed projections and actionable steps with goals.

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Why examine estate freezes? The importance of family-owned business in Canada cannot be overstated. The success of these businesses depends on a number of factors, including changes in ownership. While an estate freeze may not eliminate the tax liability that will arise at the time the business is transferred, proper structuring of the freeze can defer tax costs to future periods, as well as establish the amount of the tax liability that will arise at the time of the taxpayer’s death. In addition, in the process of planning and implementing an estate freeze, there are other many issues that must be addressed. The issues that we will focus on are the characteristics of the preferred shares to be issued and the proper structuring of the freeze to avoid any adverse tax consequences.

A buy-sell agreement is generally the best way to protect your family's ownership interests. Without one, an unanticipated event can damage - and even destroy - the business. Here is an overview of how business "prenups" work and a look at the methods used to value business ownership interests.


Retention of Records

On: 2012-04-13 15:35 

Many of us are active in bookkeeping, but when can we do some book-purging?