Jason Kwiatkowski publishes "The Undiscovered Planning Tool for Business Owners", a book for business owners on why business valuation is critical for planning purposes.
Arthur Cheung, a recent graduate of the Master of Accounting program at the University of Waterloo, joins VSP as an Associate. Arthur has enrolled in the CICBV program and is simultaneously pursuing the CPA and CBV designations in Canada.
Seminar Do you own a small to mid-sized business? Protecting the value of your business and preparing for its eventual sale or transfer to the next generation is critical! Attend this free seminar to find out why and learn more about the insurance, valuation and legal considerations that are vital to ensuring a successful business succession plan. Wednesday, November 26th, at O’Connor MacLeod Hanna LLP (700 Kerr Street, Oakville, Ontario) Registration starts at 7:15 a.m. and a com...
Are you ? Will you be selling to management or an employee group over time? Would you like to maximize your net proceeds on a sale to an independent third party buyer? Whether you plan on selling your business to an internal party over time or to an external third party for maximum proceeds, your success depends on how much effort you put into your planning and preparation. Getting started is often the hardest part. We learned from Newton that, “An object at rest stays at rest and an obj...
All business owners eventually. Planning is critical if you want to ensure a successful transfer of your business - whether that transfer be internal (i.e. to another shareholder, a management group or the next generation) or external (i.e. to an independent third party). According to a recent CFIB study, less than 10% of business owners have a formal written plan, 40% have an informal plan and over 50% have no plan whatsoever. [1] Why have so many business owners avoided planning their exit...
Summer may be the perfect time to . The most valuable businesses are the ones that can survive without their owner. A buyer will pay a premium for a company that can operate effectively without the owner’s presence and likely require a steep discount for a business that is dependent on its owner. This summer, consider taking an extended break from your business to see how things will run when you are not around. It is likely that some things will go wrong, but use those errors as feedback f...
The executor of an estate with business interests should obtain an as support for the values used in the estate administration tax (“EAT”) filing, particularly in light of recent changes to EAT legislation and the potential for personal executor liability. At the time of probating the will, EAT (previously known as “probate fees”) of 0.5% must be paid on the first $50,000 of estate assets and 1.5% on the value of the remaining assets. [1] The estate representative (i.e. executor or t...
We were recently contacted by the Inspection Department of an independent service provider to the Canadian life and health insurance industry with respect to one of our clients. They were gathering information to assist in the underwriting process and wanted independent evidence supporting the client’s claim as to the value of the business as part of their inspection process. Our client asked us to provide a copy of the independent business valuation we had prepared for purposes of their and ...
30% to 40% of business owners are , management, employees or family member. [1] One option for those planning to transfer the business to the next generation over time is through an estate freeze. In an estate freeze the business owner’s common shares are exchanged for preferred shares of equal value to the common shares. New common shares are then issued by the company to the next generation family members. This allows the business owner to “freeze” his/her unrealized gain in the corpo...
According to recent studies on the , between approximately 30% and 40% of business owners surveyed are expecting to transfer their business internally to other shareholders, management, employees or a family member. If you are planning to one day sell your business to an internal party, an independent business valuation can be very beneficial for managing value expectations and ultimately facilitating the transfer of the business at a fair and reasonable price. It is extremely important fo...