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Preparing for a Merger
One of the most complicated small business decisions you may have to make is whether to merge your business with another. A merger requires a great deal of thought about the complexities involved. There is no real one-size-fits-all formula. The most successful...
6 Tips for Tax Season
It’s that time of year again, when we dig deep into our shoeboxes full of receipts and wait eagerly for official tax documents toarrive in the mail. Are you ready for it this year? Did you keep a good record of all the charitable contributions you made, the receipts...
Are You Ready for Tax Time?
We have recently sent out our annual T1 Checklist used to assist our clients in preparing them for T1 Tax Season. In the event you have not received this in the mail, please feel free to download the document here: T1 Checklist for Clients As always, if you have any...
Establishing a Productive Banking Relationship
For various reasons, a business owner may decide to approach a new financial institution. How do you establish a good relationship with a new financial institution, and maintain it? Lipton LLP has helped many clients do this. Having the right approach makes a big...
Have you received our T4/T5 Preparation Summary?
In order to facilitate the accurate preparation of your 2012 T4 and T5 information returns, we have recently mailed a summary of significant taxable benefits that may apply to your employees. It should be noted that if you are submitting more than 50 information...
Tax-Free Savings Accounts
No one likes receiving unexpected notices from the Canada Revenue Agency (CRA). Some owners of tax-free savings accounts may have received notices and may be confused about the rules governing such accounts. Effective since January 1, 2009, Canadians over 18 have...
Saving for an Education
Tuition may be increasing, but education is still the best investment we can make for our children or grandchildren. Today more than ever, it pays to plan ahead for a child’s education – and Registered Education Savings Plans (RESPs) are an excellent tool to help you...
5 Lessons from the Economic Downturn
In economic downturns such as the one experienced recently (and to some extent still continuing), new opportunities can emerge. There are business lessons to be learned from difficult economic times and these centre on the subject of change. What changes should you...
Buying or Selling a Business
People are sometimes surprised to discover the effort involved in buying or selling a business. If you are considering either, it is wise to consult experienced advisers. On any given day, one or more Lipton LLP professionals are assisting clients in their pursuit of...
Partnership Year-Ends – Tax Changes
W hat are the tax implications of a member of a corporate partnership having a fiscal yearend different from that of the partnership? The latest federal budget provides a new answer to that question. Previously, partnerships owned by corporations could defer taxes on...
Donations of Flow-Through Shares
Registered charities may receive fewer donations when proposed changes introduced in the March 22, 2011 federal budget come into effect. These proposals, which are now in draft legislation, aim to reduce the tax benefits of donating publicly traded flow-through shares...
Using Social Media in Your Business
Social media is acknowledged by most business owners today, yet there is still confusion over how it should be used. According to Systems Administrator Bryan Walderman, the question is not if, but how you should use social media as a marketing tool. “Social media is...
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