I Am Buying a Business.
I. . .
Before you buy the business, you need to know if it’s a worthwhile investment, how to go about making the purchase, and from where to draw funds. Once you’ve made the decision to purchase a business, you’ll need to decide if you should maintain its existing corporate and pay structure, and what the tax implications are.
At KWB, we can walk you through every step of buying a business, from due diligence, to completing the transaction, to keeping operations running smoothly.
If you’re an existing client, please give us a call and set up a meeting.
If you’re a new client, give us a call or send us an email – we’ll set up a no-commitment consultation for approximately a half-hour. We’ll talk about your business, your personal and professional goals, and answer all of your questions about us as well. If there’s a good fit, we’ll provide you with actionable advice and get you started down the path towards your goals.
Blog posts about Buying a Business
Sep
17
2020
Save Money with a Health Services Plan
Save Money with a Health Plan
How can you save $100’s and maybe $1,000’s in taxes in one simple step? Are you an employee of your own company and do you have significant medical expenses each year of $2,000 or more not covered by a health plan? Then creating a “Private Health Services Plan” (PHSP) as soon as possible could save you big dollars.
Apr
3
2020
New Protocol for Applying for the Canada Emergency Response Benefit (CERB) – 3 April 2020
Due to the
volume of Canadians applying for the Canada Emergency Response Benefit (CERB),
the Canadian Revenue Agency has set new protocol for applying:
If you were born in January, February or March, you may apply on MondaysIf you were born in April, May or June, you may apply on Tuesdays.If you were
Apr
3
2020
KWB Summary of Relief Programs - Federal and Provincial - 3 April 2020
To our friends, clients, and business partners,
We hope this newsletter finds you well and healthy. The volume of information we’ve received from provincial and federal governments over the last few weeks has been significant and a bit of a moving target, so we’ve put together a summary of all the relief programs that
Mar
25
2020
Government introduces Canada Emergency Response Benefit to help workers and businesses
March 25,
2020 - Ottawa, Ontario - Department of Finance Canada
The Government of Canada is taking strong, immediate and
effective action to protect Canadians and the economy from the impacts of the
global COVID-19 pandemic. No Canadian should have to choose between protecting
their health, putting food on the table, paying for their
Mar
25
2020
Support for entrepreneurs impacted by the coronavirus COVID-19
As announced by the Minister of Finance, BDC puts in place additional measures to provide relief for Canadian
entrepreneurs.
Effective
March 18, 2020, new relief measures for qualified businesses include:
Working capital loans of up to
$2 million with flexible repayment terms such as principal postponements
for qualifying businesses;Flexible repayment terms, such
Mar
24
2020
Support for Employers – New Supports Announced 23/03/2020
Corporate income tax changes
Corporate income tax balances and
instalment payments will be deferred from March 19 until August 31, 2020 to
increase employers’ access to cash so they can pay employees, address debts and
continue operations.
Education property tax deferral
Education
property tax rates will be frozen at last year’s level – reversing
Mar
24
2020
Best Practices for Submitting Documents Electronically
We are encouraging you to send us your personal tax
information or corporate records electronically. This guide will assist you through the
process while ensuring your data is secure and well managed.
File Types: We can accept pretty much any file types
(PDF, jpeg, bmp, tiff, png, etc.)
Image Quality: 
Mar
23
2020
Relief for the Energy Sector
Immediate action will protect jobs and provide economic relief to the oil and gas industry
Overview
The Government is providing economic relief to Alberta’s energy industry to address challenges resulting from the COVID-19 pandemic and declining oil prices due to an international price war. The energy sector supports more than 500,000 jobs across
Mar
23
2020
Who qualifies for EI?
Whether you qualify for EI will still depend on your specific situation, such as regional rate of employment, and the number of hours worked in the last 52 weeks.
The government recommends people apply as soon as possible to find out if they qualify; waiting more than four weeks after your last day
Mar
20
2020
Support for Employers - Alberta - COVID-19
The Alberta government will provide immediate funding and supportive measures to support local businesses, employers and employees.
Support for employers
Corporate income tax changes
Corporate income tax balances and
instalment payments will be deferred from March 19 until August 31, 2020 to
increase employers’ access to cash so they can pay employees, address debts
Mar
20
2020
Tax News and Changes – COVID-19
The Prime Minister and the Minister of Finance announced on
March 18th an economic relief package to begin addressing the
economic impacts of the COVID-19 pandemic. Part of the economic relief package includes
tax relief for individuals and businesses.
Filing Deadline Extensions
The deadline for filing personal income tax returns will be
extended to
Mar
20
2020
Resources for Canadian Businesses – COVID-19
Small and medium-sized businesses are the backbone of the
Canadian economy. During this extraordinary time, the Government of Canada is
taking strong action to help Canadian businesses as COVID-19 is affecting them,
their employees and their families.
The Government and public health officials are urging all
Canadians to:
stay home unless it is absolutely
Mar
19
2020
To our valued clients and business partners – a KWB announcement
KWB Chartered Professional Accountants has a proactive plan for
continued operation in this new environment. You and our team are our
first priority. We want to inform you of what changes we have made, so we
can continue to complete the work you need us to do, while protecting both you
and
Feb
28
2020
3 Best Practices - Achieving Organic Sales Growth
Most business owners would probably agree that, when it comes
to sales, there’s always room for improvement. To this end, every company
should strive for organic sales growth — that is, increases from
existing operations unrelated to a merger or acquisition.
That’s not to say a merger or acquisition is necessarily a
bad idea
Oct
29
2019
Accounting Terms
Here are some of the most common terms used in Accounting today:
AR = Accounts Receivable – The amount of money owed by customers or clients to a business after goods and/or services have been delivered or used.AP = Accounts Payable – The amount of money a company owes creditors (suppliers, etc.)
Jul
2
2019
New Business Guide for setting up your business
If you are starting a new business in Canada or are operating one already, then this article is for you.
Types of business structures
The type of structure you choose has a significant effect on the way you report your income, the type of returns you file each year, and many other matters.
The three
Feb
19
2019
Disaster Recovery 101
Terrible devastation caused by flooding or fires is a potent reminder that one should not delay planning for disasters in advance. Learn how to approach designing your own Disaster Recovery Plan (DRP).
May
22
2018
Quickbooks ProAdvisor
There are many benefits that KWB receives as a member of the Quickbooks ProAdvisor program and can pass along to you. Read about what they are, including some potential cost savings for you.
May
15
2018
Remote Support
Would you like to have a KWB staff person work directly on your accounting system at a time that is convenient for you? Or to help you figure out why your accounts aren’t balancing or why your accounting software has crashed? KWB is here to help! Learn more about our remote accounting support.
Mar
6
2018
Borrowing Best Practices
You may not always understand what your banker is seeing or what they are asking for, but the good news is that both your banker and you want to see the business succeed. Here is more info on the 9 simple things that will help you become a more successful borrower.
Jan
3
2017
Changes to the Eligible Capital Property Rules Effective January 1, 2017
Eligible capital property (ECP) includes items such as goodwill, patents, trademarks, customer lists and other intangibles with no fixed lifespan.
As of January 1, 2017, the new rules for eligible capital property will come into effect and will have a significant impact on tax deferral opportunities for companies that dispose of eligible capital property.
Previous
Feb
16
2016
Income Splitting
Do you own a business - either incorporated or unincorporated - and have a spouse or one or more adult children with an income lower than your own? If so, you may be able to shift your income to these other family members, effectively moving the income from a high tax rate to a low tax rate and decreasing the overall tax burden on your family. This is called income splitting.
Sep
10
2013
Economic Update on U.S Interest Rates
Are you interested in what is happening with interest rates in the U.S.? Here is a quick and easy to understand summary.
Mar
24
2013
2013 Federal Budget
On March 21, 2013 the federal budget was released. Read about the 4 items in the budget that we think are most likely to affect you.
Nov
3
2012
Is it too late to reduce your 2012 taxes and optimize your investments?
Is it too late to reduce your 2012 taxes and optimize your investments? Perhaps not—if you contact KWB right away!
Oct
19
2012
Economic Snapshot
Are you interested in what some of the current economic conditions are in Europe and the U.S.? For a quick and easy to understand snapshot, in a half page summary format, read on.
Jun
19
2012
The Value of a Unanimous Shareholders Agreement (USA)
The financial wealth of many individuals is represented by the shares of a privately-held corporation, and, as such, a shareholder agreement is an invaluable legal instrument when the corporation is being continued by other shareholders or family.