It’s hard to believe that 2013 is drawing to a close when it seems like we were just celebrating the summer holidays. Here are some quick tips to think about and discuss with us before the end of the calendar year, or before the year-end for your company:
- Ask us about triggering capital gains or losses. We can discuss settlement dates vs trade dates, whether December or January is better, and help you watch out for repurchases (directly or indirectly).
- Get a tax estimate for the year so you can avoid any cash flow nightmares.
- Decide with us how you are going to be paid: salary, bonus or dividend? Making withholdings locks you in, and takes away our flexibility to make remuneration decisions that can help save you money.
- Plan to make last minute acquisitions where appropriate.
- Discuss whether your structure is the right structure for your current situation.
And remember to check out our Tax Calendar, which aims to keep you on track for the year. A big one to remember for January has to do with payment of loan interest on certain types of loans to prevent income “attribution”. This payment is owing by January 30th, not the 31st.