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Tax Implications of Selling Your Business in Canada

Selling Your Business in Canada

Selling a business is one of the biggest financial decisions an entrepreneur can make. Beyond negotiating the right price, business owners need to carefully consider how the sale will be structured, since taxes can drastically affect how much money you actually keep. Read More

Written by MadanCA Team on September 11, 2025 @ 5:49 pm
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Taxability of gifts to family members clarified.

Taxation on gifts to family members can be tricky. Usually the recipient does not have to pay taxes but the person who gives the gift might face personal taxes. There are a couple of tips that you can take to minimize or avoid taxes such as not giving gifts that can increase in value.

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Tax Implications of Selling a Dental Practice in Ontario

Are you a dentist with a practice? If you are, you know there are few harder decisions than selling your business. After all, you have put your money and effort into building your reputation. There are also complications involving sales, such as finding a buyer and minimizing tax. Dentists simply cannot afford to sell without … Continue reading Tax Implications of Selling a Dental Practice in Ontario

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Foreign Accrual Property Income – Part 2

I have previously discussed how the Foreign Accrual Property Income (FAPI) applies to Canadians who establish corporations in a different country. For my previous article, please visit What is the Foreign Accrual Property Income (FAPI) in Canada? . After reading the article, more shrewd readers may ask, “What if I create a corporation in a … Continue reading Foreign Accrual Property Income – Part 2

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Discover the Tax Benefits of a Holding Company

Are you wondering what are the tax benefits of a holding company? Setting up a holding company can provide you with some benefits. The first is that it provides creditor proof. The second benefit is that the holding company can be used for income splitting purposes thus reducing your overall tax liability.

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Explore tax benefits of life insurance for business owners.

There are many benefits that a corporation can gain from getting life insurance. It provides lump sum cash for the family members of the deceased. Another benefit is that it can also be used to protect profits from investments from tax.

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Lower Your Tax Bill: Income Splitting with Your Spouse

So you want to know how can I lower my tax bill by income splitting with my spouse? Income splitting with a spouse is a very effective technique to reduce overall household tax liability. Some options within this technique involves letting the higher income spouse pay for all the house hold bills which frees the lower … Continue reading Lower Your Tax Bill: Income Splitting with Your Spouse

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Tax-free benefits available from your workplace.

What tax-free benefits can I get from my workplace? Employees can receive benefits from their workplace and employers that are completely tax-free. Some common benefits include a loan from an employer to buy a home, medical and dental benefits, non-cash gifts, as well as education and training related costs.

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Disadvantages of a Corporation

While corporations have many benefits, there are also some drawbacks. Generally, losses incurred by your business can be offset by personal income. If you’re incorporated then these losses cannot offset.

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Am I Eligible to Deduct Home-Office Expenses?

So you are probably asking yourself can I deduct home-office expenses? Those who run a home office and use a portion of their home as a designated office space are eligible to claim relevant tax deductions. The primary condition is that the home must be your primary place of business.

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What are the Advantages of a Corporation?

If you have a business then it might be a good idea to consider incorporating into an corporation otherwise known as a limited liability corporation. There are a number of different benefits for corporations such as the low corporate tax rate and limited liability protection.

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