How To Ensure Rental Income Within Your Corporation is Active Business Income
How To Ensure Rental Income Within Your Corporation is Active Business Income May 5, 2023 Tax Question: How do you ensure your rental income within
May 5, 2023
Tax Question:
What are the most common Corporate Income Tax issues our clients face?
Facts:
We have prepared thousands of corporate tax returns and financial statements over the years and have been witness to a multitude of issues. Many of these issues are unique, depending on the individual circumstances of the client in question. However, there are a significant number of issues that constantly appear that are very similar across the full client spectrum.
Over the next five weeks, we are going to look at each of the top five common issues we see with the tax and accounting records of our corporate clients and how to avoid them. The top five are as follows:
The consequences of these issues are quite large but they are easily avoided with a little bit of planning.
If you would like more information on this topic, please contact a member of the Empire CPA team by filling out the contact form below.
Canadian and foreign tax laws are complex and have a tendency to change on a frequent basis. As such, the content published above is believed to be accurate as of the date of this post. Before implementing any tax planning, please seek professional advice from a qualified tax professional. Empire, Chartered Professional Accountants will not accept any liability for any tax ramifications that may result from acting based on the information contained above.
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