Understand the starting point
Organize corporate and personal information relevant to the question, including ownership, loans and existing arrangements.
Look ahead before a decision
Corporate & Personal Tax Planning
Tax planning is looking at a decision before you make it, so you know the general tax effect: how you pay yourself from your corporation, when to take money out, or how to change ownership. Every situation is different, so we work from your own numbers within an engagement.
Brampton · GTA · Virtual support across Canada
How it works
Tax planning, step by step.
Exactly what happens after you get in touch, starting with one 15-minute call.
- Today
Book 15 minutes
A free, no-obligation 15-minute call on Teams or at our office at 181 Queen St E, Brampton.
- The call
Choices still open
We look at your year-end date and which planning choices are still open this year.
- Before year-end
Plan your pay mix
We compare salary and dividend options with you, and what to do with money building up in the corporation.
- Before you act
Check the decision first
Purchases, withdrawals or ownership changes are reviewed before you act, with your lawyer where needed.
- Your move
Ready when you are
Pick a 15-minute slot that suits you. We confirm the time and scope with you directly.
Your starting point
You are considering withdrawals, investments or ownership changes and want to understand the personal and corporate implications.
How we help
We review your objectives, compare relevant salary and dividend options, and examine shareholder balances, corporate funds and future plans. Complex transactions are coordinated with appropriate professional advisers.
What you can expect
A comparison grounded in your circumstances, with assumptions, trade-offs and implementation responsibilities explained.
THE DETAIL BEHIND THE WORK
More than a task.
A clearer position.
Filing reports what has already happened. Planning considers choices before they are implemented. We start with your ownership structure, business position and objectives, then identify the tax questions, information gaps and specialist input that need to be addressed together.
Who this is for. For incorporated owners considering a withdrawal, business sale, restructuring, retirement, ownership change or transfer to the next generation.
Compare the considerations
Review assumptions, potential tax consequences, timing and liquidity rather than promising a single strategy for every owner.
Coordinate implementation
Identify work for accounting, legal, valuation, investment or licensed insurance professionals before a plan is put into effect.
THE WORK, EXPLAINED
What is included
- Owner-manager salary, dividend and corporate withdrawal discussions
- Shareholder loans and holding-company structure reviews
- Business sale readiness and share-sale versus asset-sale questions
- Estate-tax exposure and liquidity discussions
- Succession, retirement and shareholder buy-sell planning
- Estate freeze and corporate reorganization considerations
- Family trust, beneficiary and reporting questions
- Corporate-owned insurance and Capital Dividend Account review with appropriate specialists
- Coordination of legal documents, valuation and other professional advice
Scope details to confirm
- Salary, bonus and dividend comparisons alongside personal withdrawals and corporate cash needs
- Shareholder loans and related-company transactions
- Corporate investment income, relevant tax attributes and holding-company discussions
- Capital dividend account records and election coordination where applicable
- Retirement, succession and business-sale questions, with assumptions, costs and professional responsibilities made clear
The exact work, timing and deliverables are confirmed in your engagement. A service listed here is not automatically included in every package.
PLANNING CONVERSATIONS
Questions worth connecting.
Owner-manager decisions
Review how money moves between you and your corporation, the supporting records and the personal and corporate questions to resolve before acting.
Business sale and succession
Consider who will own and manage the business, how a transfer may be funded and which tax and legal requirements need specialist review. No exemption or preferred tax treatment should be assumed.
Estate and liquidity questions
Understand the difference between the value of an asset and the cash available to meet obligations. Coordinate the review with wills, shareholder agreements and other existing plans.
Reorganizations and family trusts
A new structure brings documentation, reporting and ongoing responsibilities. Suitability depends on the full facts; legal implementation and specialist advice may be needed.
Insurance and professional coordination
Accounting analysis can identify funding questions. Product recommendations, policy placement, legal drafting and regulated investment advice belong with appropriately qualified professionals.
HOW WE WORK TOGETHER
A clear process, from the start.
- 01
Review the starting point
We discuss the business, the relevant period or decision, your records and any upcoming deadlines.
- 02
Agree the scope
We set out the proposed work, information needed, responsibilities and fees before starting.
- 03
Complete and explain
We work through the agreed tasks, explain findings and keep unresolved questions visible.
- 04
Plan the follow-up
We identify the next action and, where relevant, ongoing reporting or review needs.
Corporate and personal tax planning
Tax planning only works before the year is over. After that, it's just reporting.
These are the questions owners usually ask too late, and how planning answers them in time.
-
The problem
Salary or dividends? Last year you guessed.
The mix changes your personal tax, your RRSP room and your CPP.
The solutionA planned mix
We model the options with you before year-end, while there's still time to act on them.
-
The problem
Money is piling up inside the corporation.
Leaving it there, or taking it out, each has tax consequences.
The solutionA plan for retained earnings
We look at what the business needs, what you need personally, and the tax cost of each choice.
-
The problem
A big purchase is coming and you're not sure of the timing.
When you buy equipment or a vehicle can change the tax for the year.
The solutionTiming reviewed in advance
We talk it through before you buy, not after the receipt arrives.
-
The problem
Your family and your business plans aren't connected.
Decisions in the company affect your household, and the other way round.
The solutionOne picture
We look at the corporate and personal side together, so one decision doesn't undo another.
Related services
Why owners trust Wealthy Wave Accounting
- Led by Chirag Kalra, Chartered Accountant (ICAI, India), with more than 12 years in accounting and tax
- Plain-language answers about your own numbers, with no jargon
- Bookkeeping, payroll, HST and corporate tax handled by one team
- We never ask for SINs, banking details or tax documents by text or WhatsApp
- A real office at 181 Queen St E, Unit 5, Brampton, with virtual support across Canada
Why plan before year-end?
Most planning choices have to be made before your fiscal year closes. A short call now shows which ones are still open.
- Pick a time. 15 or 30 minutes, on Teams or at our Brampton office.
- We look at it with you. Your year-end date and the choices that are still open.
- You decide. The call comes with no obligation.
Prefer to write first? Send an enquiry. Or call (647) 606-1824.
General information only. Tax advice is given within an engagement, based on your own records.
ANSWERS BEFORE YOU START
Common questions.
Have a question about your own situation? Let’s discuss it.
Does incorporation automatically reduce my tax?
No automatic saving is promised. A planning review considers your actual situation, objectives, costs and obligations before recommending next steps.
Can you prepare my will or shareholder agreement?
Legal documents must be handled by an appropriately qualified legal professional. We can coordinate the accounting and tax information needed for that work.
Will you guarantee a tax saving or CRA acceptance?
No. Outcomes depend on the facts, current law, implementation and CRA administration. Assumptions and matters needing specialist advice should be clear before a decision.
CONNECTED SUPPORT
Plan the next step.
Corporate Restructuring & Holding Company Planning
Align your structure with your next chapter.
Explore this service ↗Estate Tax & Business Succession Planning
Plan the transition around what matters.
Explore this service ↗Business Sale & Purchase Readiness
Prepare for the transaction before the commitment.
Explore this service ↗A PRACTICAL NEXT STEP
Talk to us before
the deadline.
Share the service you need, your business type and any upcoming deadline. We’ll discuss the records, scope and next steps before work begins.
Call (647) 606-1824 Message on WhatsApp ↗chirag@wealthywaveaccounting.caThese links open your phone, email or WhatsApp app. Please don’t send tax returns, passwords, SINs or banking details in an initial enquiry.