Buying a business: Taxes
As Benjamin Franklin said, “nothing is certain except death and taxes.” The government will want a piece of every transaction you do - that's just the nature of the government and of taxes! The trick is to minimize overall taxes by structuring the transaction...
Selling a business: Preparing to sell your business
When you sell your house, you give it a coat of paint, perhaps hire a home "stager" who will help you show your house at its best. It's even more important when you sell your business. Preparation can take months or even years. A buyer will want to see a good track...
Buying a business: Legal issues during due diligence
Understanding the legal issues of buying a business is key to making sure you don’t get burned. You and your advisors will need to investigate: Are there any law suits outstanding? What Occupational Health and Safety, W.C.B., environmental and other regulatory...
Bill C-208 – What It Means for You
As a small business owner, you may have heard about some of the recent changes to our Canadian tax laws that stem from Bill C-208, a private member's bill that passed in the House of Commons recently. The bill, which was granted Royal Assent on Tuesday, June 29, has...
Value vs. Price – What is the Difference?
In the context of business valuations, “Fair Market Value” is defined as the highest price that a business would fetch in an open and unrestricted market between informed and prudent parties, acting at arm’s length, neither party being under any compulsion to buy or...