The money you make from selling your business assets will be classified as either regular income or capital gains, depending on what is being sold. Profits from the sale of capital assets, such as equipment, vehicles and buildings, are taxed as capital gains or written off as a capital loss...
Henry's decision to abandon his treasured "Tin Lizzie" after 19 years and a staggering 15-million cars -- the last not very different from the first -- came almost too late, and his company lost a lot in money and goodwill during the long changeover to the belated new Model A. Yet ...
A tax credit is a dollar-for-dollar reduction in your actual tax bill — as opposed to a tax deduction, which simply reduces how much of your income gets taxed. It’s truly found money, because if a credit reduces your tax bill below ...
With a stock acquisition, the owner is treated as making a disposition of a capital asset and any proceeds will receive capital gains treatment, generally taxed at 0 – 23.8%, but dependent on the owner’s income. How are stock acquisition strategies used?
Flexible Sales Timeline:Whether you want to close in 7 days or in a few months,you will be accommodated.Again, this is because there's no mortgage lender involved. No Commission Fees:Commission fees can cover a big chunk of your home sale gains. Good thing, you won't have to pay any...
Every day on the road is an adventure. Every day has the possibility of something different and unexpected happening. In any given day we may not know exactly what will happen, what we’ll do, who we’ll meet, or where we’ll sleep that night. This feeling of uncertainty that comes ...
Yes there is one additional form you will have to fill out because it is your first year incorporated. This form is the T2SCH24 first time filer after incorporation form. You will be required to inform the CRA of the name and type of business you have incorporated. Thanks Allan Madan ...
Businesses must obtain and renew the cannabis licenses required for the type of cannabis-related activities they will engage in. They must also comply with local ordinances regulating commercial cannabis activity. A separate license is required for each premise where a business engages in cannabis acti...
The tax-equivalent yield is the return a taxable bond needs to equal the yield on a comparable tax-exempt bond, such as a municipal bond. A bond's interest income, called coupon payments, istaxed according to the type of bondand where it's issued. Coupon payments from a U.S. Treasury...
Often, when buyers and sellers want to complete a deal but can’t agree on the price, they employ a strategy called an earnout. An earnout is a contractual provision stating that the seller of a business will obtain additional compensation if the business meets specified financial targets in ...