Transitioning your Family Business

The “Three Circle Model” The family business can be a convoluted pool of personal and professional relationships. Who fits in where? Who has a stake in decision-making? As family business consultants, understanding these relationships is key to helping ensure the survival of the family business. Did you know? Only 30% of family businesses survive to…

Disclosure to the IRS Regarding U.S. Persons: changes announced in 2014

L’Agence du revenu du Canada a maintenant accepté de transmettre l’information financière des personnes des États-Unis à l’IRS. Ces renseignements seront recueillis auprès des institutions financières canadiennes à compter de juillet 2014. Ces dernières seront tenues de vérifier si leurs clients sont des personnes des États-Unis, mais aucune divulgation ne sera faite à l’égard des comptes…

Disclosure of Business Activities on the Internet: Changes announced in 2014

2013 tax returns require disclosure of business website addresses, including profiles, blogs, auctions, portals, and directories operated by third parties, if income is earned from those sites. The forms (T2125 for individuals and Schedule 88 for corporations) ask for the five addresses which generate the most income. The percentage of income earned from those sites…