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Guide Business

Small business corporations hit by new tax rules

Some major changes to how Canada Revenue Agency handles small business corporations are costing incorporated farms, especially those focused on expansion

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Reading Time: 2 minutes Tax rules change. Some governments try to lower taxes, others claw back those tax wins. Currently, Ottawa seems to be gnawing away at what some see as the very foundation of this country’s economy, small business profits. Incorporated businesses may be losing some of the tax advantages they’ve had over sole proprietorships, but are still […] Read more
KAP president Dan Mazier. Photo: File/Shannon VanRaes
Crops

Keystone Agricultural Producers defends cash ticket deferrals

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Reading Time: < 1 minute Manitoba’s Keystone Agricultural Producers has joined other farm groups in calling on the federal government to keep a regulation that allows farmers to defer grain sales into the following year for tax purposes. The government announced in its recent budget that it is considering eliminating grain ticket deferrals because it is a left over from […] Read more
(Cat.com)
Livestock, Machinery, Reuters

Caterpillar says compliant with tax laws after IRS claim

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Reading Time: < 1 minute Reuters — Caterpillar Inc. said Friday it was compliant with tax laws, a week after federal law enforcement officials raided three of the company’s buildings in connection with a probe into the heavy machinery manufacturer’s offshore tax practices. The Internal Revenue Service (IRS) has challenged the company’s taxes for the years 2007-2012, the company said […] Read more
Sound accounting advice may help you make major donations with an affordable net cost to the farm.
Guide Business

Smart farm strategies for charitable giving

New tax laws and innovative financial strategies give you new ways to make donations with real impact

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Reading Time: 5 minutes With fewer farmers facing an insatiable number of organizations needing time and money, the decision of how much to give to whom is getting tougher. What do you want your money to do? How much should you give and when? What are the tax benefits? For many farmers, there’s also the question of how best […] Read more
man doing paperwork at a desk
Guide Business, Management

Family farm corporations on the rise

Depending on your farm objectives, building a trust into your corporation may be your best first step

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Reading Time: 6 minutes The death of the family farm is widely bemoaned. Activists ask, “What do we really know about these corporations that produce our food?” As it turns out, it’s the same question that many farmers are asking themselves, although in a very different context. How can I be sure that my farm corporation is the best […] Read more

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