Corporate Tax Restructuring
Full Corporate Tax Restructuring Services for Greater Vancouver
If your corporate entity in the greater Vancouver area is in need of corporate tax restructuring services, the highly experienced professional accountants of Cahill CPA will provide your firm with full corporate business consulting and tax restructuring services. This top calibre, highly respected accounting firm is family owned, and it is strongly committed to building and maintaining an exemplary practice that is focused on developing trusted professional relationships with clients. The excellent Cahill CPA team is composed of accountants with diverse certifications, knowledge and experience, including Chartered Accountants (CA), Certified General Accountants (CGA), Certified Management Accountants (CMA) and Chartered Professional Accountants (CPA).
When Corporate Tax Reorganization Services May Be Needed for Your Business
Corporate restructuring is the reorganization of the structures of a corporate entity in order to best serve the needs of its stakeholders. The structures of your corporation that may need restructuring include the legal, ownership, operations and other structures. Our Cahill CPA team of business tax restructuring accountants will ensure the strong, successful restructuring of your business by first analyzing all aspects of your corporate tax issues and aiding you and the other officers of your business in the evaluation of your tax-efficient options for restructuring. Our accountants will also provide comprehensive consultation services concerning all aspects of corporate tax services for your business.
The most common reasons for the need of business tax restructuring for a corporation include the following occurrences:
- The initial incorporation of a business by an individual or a partnership;
- The formation of a holding company by an individual or a partnership;
- The transfer of property to a corporation in the context of an estate freeze and/or income splitting reorganization;
- The transfer of property within a group of corporations for business or tax purposes;
- The division of a corporation; and
- The acquisition of property for consideration which consists in whole or in part of shares.
At Cahill CPA, our highly qualified and certified accountants will provide their expertise to assist you in handling all aspects of these and other business occurrences that may require corporate tax reorganization services.
Major Tax Issues That Can Impact the Restructuring of Your Corporation
Specific tax issues that can have a significant impact on the restructuring of your corporation include the following:
- Debt Forgiveness. - During the course of your corporate business operations, the release of debt may result in tax implications for both the borrower and the lender, especially if these two parties (borrower and lending company) are connected business parties. For the transaction to be properly structured, a qualified accountant should be consulted regarding the subject of debt forgiveness.
- Corporate Disposals and Reorganizations. - Since asset disposal may result in taxable profits, the professional advice of an expert accountant is needed concerning potential exposures and for determining possible tax restructuring options. This occurrence may involve disposals to third parties or intra-group transfers.
- Tax Attributes. - A percentage of the value of a struggling company may be in its cumulative tax losses or other forms of deferred tax assets. These tax losses may be easily lost during a change of corporate ownership if certain aspects of the way in which the business is or will be operated or funded also change. A qualified and certified accounting firm should be consulted for the appropriate handling of this tax restructuring business issue.