Will New Small Business Tax Rules Impact Your Income?
January 23 @ 8:00 am - 10:00 am$49
Impact of Tax on Split Income & Tax on Passive Income to Business Owners and Their Families
Business owners remember the exasperation by the Federal tax changes proposed last year. Changes to income-splitting legislation for private corporations took effect January 1, 2018. The new tax rules limit the ability for business owners to split income with family members who aren’t considered active in the business.
TOSI – If you receive or realize an amount derived from a private corporation, partnership or trust you need to understand the Tax on Split Income (TOSI) rules and how you and your family are impacted.
TOPI – Secondly, once changes to Tax on Passive Income (TOPI) come into effect January 1, 2019, businesses could experience their small-business tax deduction starting to erode or worst yet, fully eliminated depending on the level of passive income earned.
What you will learn
- How to pay family members.
- Tax strategies on passive income.
Who should attend:
- Founders and owners of tech based businesses
- Have you paid a dividend from your corporation to a non-active family member?
- Concerned about dividends being taxed at the highest tax rate?
- Have you paid dividends/salaries to Family Members? Children in or nearly University age?
- TOSI legislation is horribly complex. The average business owner and non-tax specialist advisor is unable to navigate.
- Determine if you are subject to the reduction of the small business deduction commencing, January 1, 2019.
- Understand how the new rules will affect you and the way you can plan to minimize the tax impact to you or your business.
Raffaele Ruberto – Tax Principal, CPA, CGA, SB Partners LLP
Raffaele brings a sophisticated level of understanding of both TOSI and TOPI rules along with effective strategies to help business owners mitigate their impact.
Maximum – 12 seats in order to maximize your time. Full breakfast provided