Fiscal Matters

Aligning your tax strategy with today's business realities

The increasing tax complexities is one of the concerns of CEOs in family businesses.  This is driving the adoption of systems and processes that are necessary to satisfy tax authorities and regulators. At the same time, tax authorities are concerned with ensuring increased compliance amongst taxpayers. As tax compliance becomes more burdensome, we help companies such as your own to:

  • identify and reduce tax risks,
  • understand and meet compliance obligations,
  • implement tax strategies that complement the business and operational objectives,
  • Assist in resolving disagreements with tax authorities when they arise

 

Tax planning for family business succession 

One of the challenges that family business owners face at some point in time is how to pass on ownership to the next generation. In the process of considering such an important decision family business owners realize the considerable implications of the fiscal burdens associated with such transfer.  Whether the transfer of the business is made during the life of the owners or after their demise, succession duties and other taxes can have considerable implications. 

Similar consideration are made when family business owners consider restructuring or selling part or all of their business.  Although such transactions are typically to facilitate succession, current legislation is such that can make such initiatives prohibitive. 

These issues make tax planning an important aspect that family business cannot afford to overlook. It is a key factor that ensues that the wealth that you created is not unnecessarily depleted for fiscal reasons.

No two families or businesses are the same. Therefore we are always willing to work with you in this area to develop a tax strategy for succession that is tailored to your individual needs.