Ask an average person what a dividend is and, if they don’t know, they’ll at least say it’s something positive. For the most part, they’d be right. Dividends are distributions of a corporation’s after-tax earnings to its shareholders. They’re optional to distribute, but corporations often use them to entice or pay shareholders. Dividend taxation can […]
Understand what a dividend is, and how various types are taxed
Minimum tax pares back the advantages associated with certain deductions, credits and tax shelters that reduce taxable income.
Do you pay the alternative minimum tax? There are ways to reduce it
Current combined personal tax rates are higher than corporate rates, so there is an inherent tax incentive for business owners to incorporate.
The primary benefit is that the assets within the trust are not subject to estate administration taxes, commonly known as probate fees
Is keeping them for six years long enough?
Keeping tax records for six years is just the starting point. Hold on to these documents for longer.
The increase in marginal tax rates should make corporations more attractive as vehicles for tax deferral and income splitting.
The surprising boost Liberal tax changes give some high earners.