Tax Services
Managing your income and other taxes is a crucial element of managing your overall business cash flow. We provide creative ideas and intelligent planning designed to effectively mitigate your overall tax liabilities. The SB Partners’ Tax Services Group has developed a reputation for structuring workable and efficient tax plans and assisting clients with any direct inquiries with the CRA.
Our services include:
- Tax consulting and minimization
- Canada Revenue Agency (CRA) audits and appeals
- Scientific Research & Experimental Development tax credits
- U.S. Tax Compliance
- Estate & succession planning
- Canada-U.S. cross border tax planning services
- Tax planning for regulated professionals
- Corporate reorganizations
- Tax Provision Services
- Commodity tax planning (GST, HST, PST, QST)
Seeking Professional Tax Advice
Examples of situations where you should seek professional tax advice include:
- Buying a business or real estate
- Sale of a significant asset and/or divesting yourself of an operating unit
- International expansion
- Preparing an “exit strategy” from your business
- Planning retirement and the distribution of wealth to your estate including preparing or updating your will
- You or your business are considering emigrating from or immigrating to Canada
- Government tax legislation or regulatory changes
- Tax minimization options
Tax Consulting & Minimization
SB Partners’ Tax Services Group proactively advises businesses, large and small, on ways to manage their federal and provincial income and capital taxes. We scrutinize your existing and future personal and business objectives and deliver innovative ways to manage your tax exposure wherever you do business: Canada, the U.S. or elsewhere.
Managing CRA Audits & Appeals
A Canada Revenue Agency (CRA) audit can be a very emotional event. Let SB Partners’ Tax Services Group manage the process from start to finish eliminating the fear and intimidation that often accompanies a CRA audit.
The result: you can focus on your business while we handle what is often a very disruptive process. We have a great track record of positive results at both the audit and appeal stages.
Scientific Research & Experimental Development
Many business owners do not realize that they are eligible to claim scientific research and experimental development tax credits. We can determine whether or not there is a possibility of a claim. The rewards can be substantial and there is no cost for the evaluation.
U.S. Tax Compliance/Cross Border Tax Planning Services
Taking measures to assess your personal or business U.S. Tax exposure, and where warranted, file appropriate returns just makes a lot of sense. It is equally important to ensure that you adequately plan and structure your cross border activities to meet requirements as well as to minimize tax. We help Canadians and Canadian businesses deal with tax implications when buying U.S. property, unravel the complexities of U.S. Estate Taxes and plan effectively for extended stays in the U.S. Before you make any decisions about your cross border activities, let us tell you what we have done for other Canadians and local businesses with exposure to the U.S. Tax regime.
Tax Planning for Regulated Professionals
The SB Partners' Tax Services Group would like you to keep more of what you earn and preserve your accumulated wealth. Managing your income taxes is a crucial element of managing your overall practice cash flow. Professionals who must practice in compliance with the rules set by a Provincial College, Chartered Association or Provincial Society face an additional layer of business scrutiny that impacts their revenue stream. If you wish to maximize your income by minimizing your tax liabilities, the SB Partners’ Tax Services Group can work with you to preserve your personal wealth through efficient tax structures and methodical planning for you and your family. This may involve incorporating to take advantage of lower small business tax rates; accessing Capital Gains Exemptions in the event of the sale of the professional practice; income splitting or totally reviewing your practice structure.
Estate & Succession Planning
Managing taxes that arise on death in order to leave as much as possible to heirs is a key service provided by SB Partners' Tax Services Group. We review your will and assets to determine potential tax liabilities and probate fees at death. As well, we ensure your estate plan meets personal objectives and strive to minimize capital gains and probate fees to maximize the value of your estate.
Working with our succession planning group, our team also helps business owners find tax-beneficial ways to bring their children into the business. If there are no children involved, we help clients determine a tax-efficient exit strategy and maximize the after-tax proceeds on sale of the business.
Corporate Reorganizations
Businesses consider corporate reorganizations for various reasons. It may be to protect the assets and securitize the retained earnings of the business, ease estate planning, or restructure to accommodate changing conditions or simplify corporate structure. SB Partners' Tax Services Group works with clients from start to finish, advising on how the corporate reorganization impacts on your day-to-day business.
Tax Provision Services & Corporate Tax Returns
Canadian subsidiaries of foreign owned companies are required to report back to their parent company where financial reporting is consolidated. SB Partners' Tax Services Group provides tax provision services on a quarterly, bi-annual or annual basis in a timely, cost effective manner as well as the annual corporate tax return.
