Cultivate your knowledge and master agricultural taxation like a pro.
When it comes to tax, you can’t be out in left field! To get a clear understanding of the various programs, eligible expenses, deductions and insurance available, call on our experts to guide you in your business’ growth.
Don’t miss out on the investment tax credits that could boost your business to the next level.
What’s changed in your taxes
There have been changes in capital assets that qualify for tax deductions over the years. Our experts have been monitoring the developments to keep you informed about the changes to make in your annual income tax returns in order to maximize your net income.
Can’t see the forest for the trees? Discover how to:
- create a winning business plan;
- adapt the way salaries are paid based on tax rates;
- purchase land or a quota for a good price;
- select the best way to register your company to meet your needs;
- find innovative financing strategies;
- define the ideal age for selling;
- carry out an intergenerational transfer;
- plan a comfortable retirement;
- develop a vision of the business’s future;
- identify the advantages and disadvantages of a progressive repurchase;
- prevent potential conflicts when sharing the business amongst your children;
- undertake financial transactions that benefit both the seller and buyer;
- transfer your knowledge and expertise.
How to carry out your accounting
Do you live on the land where you do business? Differentiate between property that is part of business tax and personal tax. Explore whether it is more advantageous to pay rent to your business. Certain types of vehicles can be tax-deductible or amortized and specific rules must be followed for their use. It might even be worth paying your children a salary if they start working for you. Clearly, a win-win option!
Ready for the next step?
Your days are full and Mother Nature doesn’t take any days off, but you’d like to take a well-deserved rest some day. To plan your business’s transfer, your succession or retirement, it’s better to start early. A detailed and realistic timetable will allow you make the most of it.
Being entrepreneurs in the farming industry is a source of pride for the two, hard-working owners of the Régika dairy farm. Jocelyn Lavoie, assurance expert at Raymond Chabot Grant Thornton, supports them thanks to his skills and knowledge of the agricultural industry.
19 Oct 2018 | Written by :