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Part Three – Family Trust Structure

In this three-part series, Lott and Company outlines initiatives that you can proactively take now to protect and safeguard against future threats to corporate assets and retained earnings of your company.  

If you have not yet reviewed part one where we covered the advantages and limitations of using shareholder loan structure, we encourage you to read it here.

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Part Two – Holding Company Structure

In this three-part series, Lott and Company outlines initiatives that you can proactively take now to protect and safeguard against future threats to corporate assets and retained earnings of your company.   

If you have not yet reviewed part one where we covered the advantages and limitations of using shareholder loan structure, we encourage you to read it here.

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Options to structure your company to protect corporate assets.

You’ve worked hard.  Your company has grown.  It’s profitable.  Retained earnings are growing, which means the company has accumulated profits.  Future growth is expected.  The bank is happy with the company’s financial statements.  Everything looks great. Congratulations, you’re all set!
But… are you REALLY all set?

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Estate Planning Series – Part Three

In this three-part series Lott and Company outlines the why, what, how and who around the essentials of creating an estate plan that effectively preserves, manages and distributes your personal and business assets after death. For small business owners, estate planning can be especially critical as the majority of their family assets and income sources may be tied up in the business.

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Estate Planning Series – Part Two

In this three-part series, Lott and Company outlines the why, what, how and who around the essentials of creating an estate plan that effectively preserves, manages and distributes your personal and business assets after death. If you have not yet reviewed part one, we encourage you to visit www.lottaccounting.ca where  we covered why an estate plan is essential and what strategies are available to meet your personal and business goals. In this second part we will cover how to lay the foundation to support an effective estate plan.

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Personal Taxes

It is that time of year again when you start receiving slips from your employer, government, banks, investment advisors etc. Please visit our Resources Section for forms and tools that will help you organize all your documentation quickly and with ease.

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Understanding new options to claiming home office deductions due to COVID-19

From March 2020 forward there has been a previously unimaginable, monumental shift on how business is carried out. To have all, or a significant portion of a workforce move offsite and perform duties from home for extended periods of time was not in any business plan. And it certainly had staff members unexpectedly scrambling to set up makeshift home offices that enabled them to continue their work.

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Estate Planning Series – Part One

In this three-part series, Lott and Company outline the why, what, how and who around the essentials of creating an estate plan that effectively preserves, manages and distributes your personal and business assets after death. For small business owners, estate planning can be especially critical as the majority of their family assets and income sources may be tied up in the business.

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Government Emergency Programs

Over the past number of months, there have been a number of government subsidy programs announced, changed and extended.  There is a lot of information to digest for small business owners.  The rules are complex and it can be difficult to determine which programs your business qualifies for.  We hope the following summary of the government subsidy programs announced by the Federal Government helps with determining what your business is eligible to claim.

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