Dissolution of a Business
Your corporation has existed for years and it is winding down as you look to retire or try something new. The majority of the assets in the corporation have been sold and you have removed all cash. It is time to start looking at dissolving your corporation. We can assist with the dissolution process by preparing the final tax returns and working with appropriate levels of government to close your company properly.
We can provide you independent economic loss assessments related to:
- Commercial / contract disputes
- Business Interruption
- Personal injury
- Motor vehicle accidents
A business plan is critical to every business owner whether they are new or old. Reviewing where you are and where you want to be is important in growing your business. Let’s help you define who you are, state your business goals qualitatively and quantitatively and attain them.
Is the business incorporated? Can you sell shares or only assets? There are always negotiations when selling. We can help minimize your tax consequences by multiplying your capital gains exemption.
An opportunity has presented itself for you to purchase another corporation. Do you buy the assets or purchase shares? Do you need to restructure or amalgamate? There are more factors to consider than tax and accounting. Allow us to help look at the potential pitfalls and advise you on your options for the best structure moving forward.
You may be planning to pass you’re business onto the next generation and require succession planning. Could a family trust be helpful? Does income and capital gain splitting interest you?
Effective estate planning eases the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your assets. We can guide you through the complex process of getting your financial affairs in order.
Succession of a business requires time and good communication. Allow us to assist in the process to provide alternatives and simplify potential tax implications. Is an estate freeze in order?