Posts filed under: Avoiding Litigation
Income Splitting Strategies with Family Trusts
There are many types of income splitting strategies which are used in Canada. All of them are based on the fact that in Canada each person is taxed separately. As a result, you create anomalies where the total tax paid by a family is higher or lower depending on how… more »
About Thomas Fellhauer
Tom’s practice includes a wide range of tax law matters including tax planning, company law, corporate reorganizations, trusts, estate planning and succession planning for family businesses for clients. more »
Big Problems with Shareholder Benefits
Many small and medium sized businesses are incorporated. And most of those incorporated businesses are owned by one person, one family or a small group of owners. We call these closely-held private companies. When the Canada Revenue Agency audits a closely-held private company, they pay particular attention to transactions involving… more »
About Thomas Fellhauer
Tom’s practice includes a wide range of tax law matters including tax planning, company law, corporate reorganizations, trusts, estate planning and succession planning for family businesses for clients. more »
Tax Problems with Salaries for Spouses and Children
Businesses are only required to pay income tax on their net income, which allows businesses to deduct expenses including wages, salaries and benefits. Family-owned and operated businesses will often pay salaries to family members for services provided to the business. In some cases, the business owner will use salaries as… more »
About Thomas Fellhauer
Tom’s practice includes a wide range of tax law matters including tax planning, company law, corporate reorganizations, trusts, estate planning and succession planning for family businesses for clients. more »