Estate Planning Archives - McCay Duff LLP Chartered Professional Ottawa Accountants

Working on calculator to understand your financial situation under quarantine.

Cleaning out your financial closet under quarantine

McCay Duff
Accounting, Estate Planning, Financial Planning

Author: Adam McHenry, CFA Sheltering in place has been tough; not being able to meet with family or friends, nor being able to step outside your home for a break required us all to adjust. There were some positives to the lockdown, though, including finishing off home projects you’ve been putting off. Another “to-do” that you might want to think about is whether there have been changes in priorities that could impact your financial affairs. If …

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Business owner shaking hands on selling his business and having a valuation report to ensure success.

17 Reasons You Should Have A Business Valuation

Rick Evans - CPA, CA, CFF, CFE, CVA, ABV, ASA CPA (California)
Business Valuation, Buy/Sell Agreement, Estate Planning, Tax Planning

There are many reasons to seek valuation. Seek valuation if you find yourself in a situation listed below. In my last post, I listed the three types of valuation reports and what they entail, namely: Comprehensive Valuation Report; Estimate Valuation Report; Calculation Report. Understanding when you need a business valuation is important when making major decisions and determining the type of valuation report you need. 17 Reasons Why You Should Consider a Business Valuation: Buying …

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Record Keeping for the Canada Revenue Agency Purposes

April Wheeler - CPA, CGA
Estate Planning, Taxes

The Income Tax Act requires books and records to be kept by every person, partnership, corporation, trust etc. who is required to pay or collect taxes or other amounts. Good financial records are essential for completing personal and corporate income tax returns. Without accurate records you and/or your business may under or over pay taxes or be subject to an audit by the Canada Revenue Agency (CRA) due to insufficient supporting documentation. How long do …

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2016 Estates and Trusts Tax Compliance and Post Mortem Planning - It's a New World out There!

2016 Estates and Trusts Tax Compliance and Post Morten Planning – It’s a New World out There!

Trevor Smithers - CPA, CMA
Estate Planning, Taxes

Just around the corner a series of new tax rules kick in that will impact the taxation of trusts and estates. These new rules will result in significant changes to existing and future tax planning arrangements. The current rules allow estates, testamentary trusts and grandfathered inter-vivos trusts indefinite access to the same graduated tax rates as an individual taxpayer. This often results in a lower overall tax liability where trust beneficiaries have access to more …

2016 Estates and Trusts Tax Compliance and Post Morten Planning – It’s a New World out There! Continue Reading

Estate Planning

Cleaning out your financial closet under quarantine

17 Reasons You Should Have A Business Valuation

Record Keeping for the Canada Revenue Agency Purposes

2016 Estates and Trusts Tax Compliance and Post Morten Planning – It’s a New World out There!

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