Evolution Accounting Professional Corporation - Evolution Accounting Professional Corporation
Calgary: (403) 774-8885
Edmonton: 587-487-1505

Corporate Tax Services

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Accounting that changes at the speed of business
YOUR LOCAL CORPORATE TAX PROFESSIONALS

Our corporate tax services team offers a complete range of tools, knowledge, and expertise in maximizing small business tax credits and minimizing corporate taxes owed. We have the experience to get the most out of the small business deductions available to Canadian businesses. We include compensation planning, corporate tax consulting, regulatory and compliance filing in our corporate business plans. Our combined corporate & commercial experiences allow us to provide you, the business owner, a calm confidence that you are in trusted hands.

In addition to supporting you through your year-end, we also deliver a wide variety of value-added services for your business. Allow the team at Evolution Accounting to analyze, plan and execute all your corporate service needs.

OWNER COMPENSATION

Whether you draw a salary, hourly wage, bonus, or other cash incentives from your company, there are many options available to owners for the administration of compensation packages. We align our recommendations to the type of business you are operating, and we examine what works best for you and your business from a holistic and comprehensive point of view.


~PAYROLL~

Make administrating your payroll simple. We can easily set up and manage your employee portal through our user-friendly payroll programs. We ensure you are in full compliance with payroll processing, tax reporting, and filing.

~DIVIDENDS~

It’s a delicate balance when considering paying out dividends. How much do I pay my shareholders? How much should I put back into my company to ensure future, sustainable growth? What are the topics I need to consider when implementing this strategy? Our extensive and diverse financial knowledge enables the team at Evolution Accounting to work with you and come up with a dividend structure that ensures a healthy bottom line.

~INCOME SPLITTING~

As a business owner and tax payer, there are ways of lowering your overall taxation bill through considered allocations to your spouse, common law partner, or family members. The rules on income splitting have considerably changed, and it is important to work with a tax expert before implementing these strategies. We are masters at crafting a business structure which supports and maximizes both personal and corporate returns while it ensures the future growth and viability of your company.

SUCCESSION PLANNING

Whether you draw a salary, hourly wage, bonus, or other cash incentives from your company, there are many options available to owners for the administration of compensation packages. We align our recommendations to the type of business you are operating, and we examine what works best for you and your business from a holistic and comprehensive point of view.


~ESTATE FREEZES~

Minimize your estate taxes and effectively manage your assets by enacting an estate freeze. You can avoid punitive tax consequences with planful and well-structured succession strategies. The focused and strategic team at Evolution Accounting can help.

~SHARE vs. ASSET SALE~

When you’re ready to sell your business, there are two options to consider. Whether all parts of the incorporated business are being sold, or simply the tangible and intangible assets, we create scenarios for your business which will illustrate the most advantageous model to execute from a tax savings perspective. We come up with mutually beneficial scenarios for both buyer or seller, allowing you to hand over the torch with integrity, thoughtfulness, and pride.

~BUSINESS STRUCTURES~

When you’re gearing up for a move from a sole proprietorship to a corporation or partnership, we traverse the domains of partnerships, notice of change, shareholder updates, changes in ownership structure, movement in professional activities, and managing any trust or holding company needs you have.

BUSINESS STRUCTURE

We engage our expertise in business structuring to create the accountability and responsibility you are comfortable with within a corporation, partnership, or sole proprietorship. We are passionate about designing a business structure which generates and maximizes profits for businesses.


~SOLE PROPRIETOR~

A sole proprietorship is the simplest kind of business structure in Canada. As a operation led by individuals, you are wholly responsible for making decisions, claiming all losses, and assuming all risk. While this risk extends to the owners’ personal property and assets, the sole proprietor also benefits from all gains, rewards, and profits. Individuals leading sole proprietorships are not recognized as having a separate legal status from the business.

~INCORPORATION~

A corporation may offer increased liability protection over a sole proprietorship. In Canada, there are tax advantages for Canadian Controlled Private Corporations (CCPC). There are many considerations and advantages to incorporating your business, and we can point you towards the structure which best fits your organizational model, and that will be most advantageous from a taxation view point.

~PERSONAL SERVICE BUSINESS~

When your company is hired to perform a service that is typically thought of as aligning with an existing service of the business you are serving, you may be designated as a Personal Service Business. In a nut shell, the government sees you as an employee, not a contractor and your corporation does not qualify to take advantage of many of the perks and tax breaks that small businesses enjoy. We help assess if you are an independent contractor or a personal service business in the eyes of revenue Canada, and implement strategies to maximize your tax returns.

PROFIT MANAGEMENT

The buck stops here! You’ve arrived at the place in your business ventures where total sales exceed total expenses and life is rosy! We help manage your net profits with beneficial, growth-oriented intentions & plans. Let us show you the ways to maximize your assets, resources, and people, bringing in an even healthier bottom line and paving the way for sustainable, healthy growth. Stay in the flow and watch profits grow.


~AUTOMOBILE ALLOWANCE~

We keep apprised of the fluctuations in allowable corporate mileage rates and capital cost ceilings for automobile expenses. Evolution Accounting leverages their knowledge to bring you amplified profits.

~HEALTH EXPENSE ACCOUNTS~

Reward your loyal and hard-working staff with mutually advantageous small business well-being benefit plans. Allow your staff to put their health spending dollars where they will benefit the most. Eligible health services are 100% tax deductible by the company, and reimbursed to your employees.

~EMPLOYEE COMPENSATION~

Attract and maintain top quality talent by delivering attractive employee compensation packages. From salary remuneration & bonuses, to creative benefits programs, happy, long term, loyal and reliable employees contribute significantly to the bottom line. Reduce the need to budget for costs associated with onboarding new employees, and staff turnover. We help you discover the perfect compensation packages to attract strong and faithful people to your business.

~ASSET MANAGEMENT~

Keeping on top of your assets is critical for tax planning and reporting. We track your asset acquisitions and disposals so you can be proactive in replacement planning, forecasting future equipment needs, and expected profit margins. At Evolution Accounting we set you up for growth, compliance, and responsible stewardship of your assets.
We connect you to the capable people and institutions in our diverse network who can direct and manage all or part of your portfolio. A broad range of traditional and alternative private product offerings are available through this alliance.

~INVESTMENT GAINS/LOSSES~

Under the Canadian tax code, investors can write off realized capital losses against their capital gains when certain conditions are met. Neither gains nor losses become realized until investments are cashed in, sold or deemed disposed of. Let Evolution Accounting guide you through the complexities of balancing losses and gains for tax planning.

~INTEREST DEDUCTIBILITY~

When interest expenses meet specific requirements, they can qualify as deductible items under Canadian tax covenants. We are experts in interpreting and communicating the many specific requirements that allow you to reasonably utilize these write-offs.