A deceased person's tax obligations can be more complex than one might think. Not only do executors have to deal with all the legalities surrounding the death of their loved one, but they also have to deal with the fiscal requirements of a different tax return. Working with a tax professional can lighten your burden and make this step easier and faster. Barricad's tax professionals have the necessary experience to guide you through the estate tax process with respect.
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A corporate structure that meets the needs of entrepreneurs is the first step to saving taxes and facilitating the transfer of funds.
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La relève d'entreprise, ça se prépare longtemps d'avance, avant même que le relevé pense à sa retraite! Chaque situation est différente et amène ses particularités émotionnelles et fiscales. Parce que nous avons l'habitude de ce type de dossier, chez Barricad, nous traitons ces aspects dans cet ordre.
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It is never pleasant to talk about what will happen when we leave… On the other hand, it is important to plan your estate well so that your assets are distributed in the way you wish. Planning today means conserving assets, protecting your wealth and a lasting legacy for your family in the future. Work with Barricad for Wealth Management Solutions!
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The tax universe is very complex. The objective of tax planning is to organize a taxpayer's affairs so that he or she pays the least amount of federal and provincial taxes possible while respecting the laws. The main advantage is to make the most of all the deductions, exemptions, credits, abatements and others that are contained in the law.
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Retirement, as well as early retirement, is obviously planned several years in advance. Business owners often have more choices, but also more responsibility when it comes to planning for retirement. Although many entrepreneurs believe they will never retire (!), they should think about it several years in advance in order to choose the right tools. Financial planning is necessary at all times, especially to save enough money for a comfortable retirement.
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Entrepreneurs have a thousand questions when it comes to starting a business in Canada and Quebec as well as Canadian corporations. Take an hour of your time and come meet with one of our tax specialists. He or she will be able to answer all your questions and, better yet, ask you the important questions that will allow your project to start the right way!
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Being self-employed is complex in many ways. The tax system is no exception! It is difficult to understand the different expenses that are allowed or not in regards to taxes. As a general rule, all expenses incurred by the self-employed to earn income are tax deductible.
Read moreBusiness succession is prepared well in advance, even before the employee thinks about retirement! Each situation is different and brings its own emotional and fiscal particularities. Because we are used to this type of situation, at Barricad, we treat these aspects in this order.
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The taxation related to real estate investors is particular. The complexity varies from one case to another, but even for a case qualified as "not very complex", tax decisions can have a major impact on the individual's taxation in the short, medium or long term.
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At Barricad, we take the preparation of tax returns very seriously. Each year, our tax specialists save our clients thousands of dollars thanks to their expertise and knowledge in this area.
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Is your organization experiencing significant losses or is it going out of business? Is it better to merge with another organization or to simply dissolve it? It is clear that it is not easy to make such a decision. This is why Barricad Fiscalists are here to advise you in this process.
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Behind your foreign projects lie several tax challenges that require careful planning. Whether it is for a company or an individual, doing business outside of Canada requires judicious financial and tax planning.
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Whether we are talking about breeding, keeping racehorses, cultivating the soil, showing farm animals, raising poultry or fur animals, dairy farming, apple growing or of beekeeping, for the purposes of tax laws we speak of the notion of agricultural enterprise. Several complex rules apply to agricultural businesses. This is why it is important to get help in order to see clearly and avoid unpleasant surprises. Farm taxation can be a complicated matter. Laws and regulations are constantly changing, and it is sometimes difficult to understand your rights and obligations as an agricultural business owner in Quebec. That's why working with a farm tax professional can be a convenient way to manage your tax situation.
Read moreKnowing the value of your business is more than just a number on a balance sheet: it is fundamental in order to avoid surprises and to plan for the future. Whether it is for litigation, tax purposes, or when an offer to purchase is made, knowing the market value of one's business is crucial, regardless of the type of business: private company, public company, or family business.
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The complexity of a tax return can be frightening to many people, despite their good intentions. If you are an individual, a self-employed worker, a property manager or any other person who needs to file a tax return, one of our advisors will be happy to help you.
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Grieving the death of a loved one is often an emotional ordeal. For most people, the steps to take following a death are often complex. In fact, a death has many specific implications that must be taken into account when determining the taxes payable by the deceased. At Barricad, we are here to guide you.
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Proceeding with the purchase and sale of a business requires preparation. From negotiation to execution, there are many steps to go through. The confidentiality agreement, the letter of intent, the due diligence, the purchase or sale agreement, the setting up of payment guarantees and the payment according to the planned schedule are the six steps of the purchase or sale of a business. It is important to be well prepared and to know how to position yourself in all the different steps of the process.
Read moreThe valuation provided is a theoretical value that will give you an idea of the fair price for the company. However, you should not rely solely on the judgment of an accountant or salesperson. There are several guidelines and a code of ethics from the Canadian Institute of Chartered Business Valuators (CICBV) that can be used to guide you through this step.
They're synonyms and both are used interchangeably in the field of business valuation services. So don't panic if one professional talks about a valuation while another speaks about an appraisal. They both mean the exact same thing: determining the value of your business. Therefore you can receive the same help from an appraisal professional or a business valuator.
You don't need to be actively looking for fairness opinions or to sell your company in order to benefit from business valuation services. They can be incredibly useful to know your worth, help you during negotiations, resolving a shareholder dispute or legal dispute, or show your clients that your business is doing well. There are plenty of reasons to use business valuation services and it's never too early or too late!
A chartered business valuator will use various business valuation methods in order to determine the value of your company. As a matter of fact, valuing a business goes beyond science and algorithms and there are various approaches to business valuation. To get accurate and consistent results, you need the experience and knowledge of an industry. A chartered business valuator will know this for you. However, several basic methods will always be appropriate, such as Assets value, Startup cost method, Industry precedent, discounted cash flow, and multiple earnings.
Our extensive and comprehensive report will give you insight into how your business is doing regarding the exceptional services you offer, products, as well as financial standing. It gives you an idea of what experts think the net worth of your business is and the reason why they reached that number. Also, it highlights the different valuation methods used and a ratio analysis showing its performance.