Buying & Selling a Business

Whether you’re buying a business, selling your business, or passing it down to a family member, certain steps must be taken in order to minimize the tax implications.

If you are buying a business, we will guide you through the process of due diligence. We will help you assess the strength and viability of the business based on its financial performance, and, if needed, will refer you to business valuators and other experts to help you. Once the business is yours, we will advise you on business structure, streamlining your operations, and filing your year-end taxes.

We were approached by an interested party who wanted to buy our business. KWB was instrumental in making sure we received the best value for our business and supplying an excellent tax strategy. Peter Moss, AGS Business Systems

If you are selling a business, we will walk you through the process, from taking advantage of capital gains exemptions to creating an exit strategy that will keep your staff and customers comfortable. We also provide estate planning advice, helping you maximize the proceeds from your business sale.

Transitioning in or out of a business can be a smooth process as long as the proper steps are taken. At KWB, make the process simple, stress-free, and positive.

If you would like to guidance on buying or selling your business, please contact us.

Blog posts about Buying & Selling a Business

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
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
Frequently Asked Questions – Temporary Wage Subsidy for Employers

1. What is the Temporary Wage Subsidy for Employers? The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). 2. Which employers are eligible? You are an eligible employer if you: are

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

Apr 18 2017
Protecting Treasured Family Assets with Life Insurance

Do you want to protect the value of your estate for your heirs and preserve those cherished family properties and other assets? If so, read on for more info.

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

Apr 9 2015
Cost of Being Found to be a Personal Services Business (PSB)

We often hear about individuals who decide to incorporate while working as an employee for a business. But is it really beneficial to do so? Let’s look at an example. Joe works as an employee and earns employment income (a T4 slip) in Alberta. On July 1, he incorporates. Although he has incorporated, he continues

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.

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I find KWB to be easy and constructive to work with. Working with them has resulted in a big improvement to our bottom line.

AGS Business Systems

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