Corporate Tax Checkups
From time to time, it is very beneficial to take a “fresh” look or review at the corporate income tax structure that is presently being used to determine whether every and available income tax planning opportunity has been considered and employed.
This review is worthwhile every 3 to 5 years because circumstances and income tax laws change very quickly, which may yield new tax planning savings and opportunities.
When we approach this type of review, we:
- meet with the owner(s) of the corporation to review the owners overall structure, the current and projected years financial statements and income tax returns
- we will then prepare a short report summarizing our tax planning ideas and the potential income tax savings and costs to implement
- we can alternatively prepared a detailed implementation memo and outline our tax planning ideas in greater detail
- we can monitor the structure for potential opportunities created by changes in income tax laws or other circumstances
Over the years, Joe Truscott has written many individual income tax and business articles which have been posted here for you to review. You can also review many additional articles that have appeared in his quarterly client bulletin called Business Matters.
Please Call Us Today at 905-528-0234 to Discuss Any Concerns You May Have.
