Books

Master Your Investment in the Family Business

Authored by LARRY H. FROSTIAK FCA, CFP, TEP,
and JENIFER BARTMAN CA, CMC

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Anyone who wants to understand the investment solutions available for family business owners can benefit from the advice in this book-and begin planning for a prosperous future. It is a practical guide to structuring the investment in a family business to prepare for transition-from start up to actual sale or transfer.
Learn how to:

• Use growth-oriented strategies to maximize wealth creation over a longer term
• Use tax-advantaged structures at the outset, to maximize your investment in the business
• Defer taxes for as long as possible and at transition
• Minimize taxes on money transferred from the business to yourself
• Use tax-efficient income splitting opportunities with family members
• Maximize the contributions of both family and non-family members working in the business
• Fund the owner’s retirement income and realize on the equity invested in the business
• Reduce risk by planning for crisis situation

 

Canadians & the IRS, What you need to know about Uncle Sam (2013), published by the Knowledge Bureau

Authored by Angela D. Preteau, B.Comm (Hons), CPA, CA

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Did you know that the number of days you spend in the U.S. each year can deem you to be a U.S. resident for tax purposes? This would mean that you would be subject to all the U.S. tax laws and reporting regimes. If you are not careful, you could technically be in the United States as an “illegal alien.” You could even be a United States citizen and not realize it, and that has tax consequences. Did you know that owning U.S. real estate and/or U.S. securities could create U.S. gift and estate tax issues for you? Also, there are certain types of income that are taxable in one country but not in the other, and some tax credits and exemptions are applied differently in both countries as well. Uncle Sam has a lot of rules and regulations and he has a very long reach when it comes to taxation. If you are associated in some financial way with the United States you need to know this: the IRS is placing a higher focus on foreign taxpayers, including its own citizens living in Canada. And in Canada, international and cross-border taxation is big news as the taxman looks for cross-border tax cheats, and demands more information about offshore holdings. CANADIANS & THE IRS can help you know your rights and obligations: Understand how to make better decisions involving investments and vacations in the U.S. Discover exactly how you could be affected by Uncle Sam. Find out how to structure your affairs for the best tax results. Discover how to work better with your tax and financial advisors and avoid “grey areas” of the law. Get the inside story on how to preserve your wealth while enjoying your cross-border travels, hassle-free. More and more Canadians are traveling to the United States on vacation, investing in U.S. securities, purchasing U.S. real estate, and even marrying U.S. citizens, and the majority of them are doing so without realizing there can be some potential tax consequences to their actions. Don’t get caught – get the tax facts.