Lethbridge Accountants &
Through extensive knowledge and exceptional service, we help you make more informed decisions – so you can build and maintain momentum in life and business.
Volution tax has helped my business save thousands of dollars in taxes and also helped make our monthly book work so much easier. We trust them with our business and with our farming financials.
Great accounting firm. I have used them for a number of years and they have really taken professional care of my accounting needs. I have been very happy with their results, their integrity and their concern for clients. I would highly recommend them to anyone.
Working with Volution has been so helpful and beneficial. Both my personal finances and business finances have been taken care of by Jaden, Kristie, Amanda, and Cora, each because of their expertise. I always leave feeling like the needs of my business is in safe hands. Especially now, as we have navigated through the ups and downs of COVID, they have been so supportive keeping me informed and current in order to stay on track.
Holding corporations are used to achieve certain tax and/or legal benefits. They can be introduced into the corporate structure at anytime. So, what is a holding corporation? A holding corporation (hereafter “holdco”) is a regular corporation that is placed between the individual shareholder(s) and the operating corporation(s) (“opco”). Simplified, the individual owns shares of the…Read More
Part 4: What if a Corporation is an Employee Back in Part 2 of Employee Versus Contractor, we mentioned that if an employee tries to incorporate, that they are assessed as a Personal Services Business (or “PSB”). Let’s take a look at what this means The CRA often refers to PSBs as “incorporated employees”. Essentially,…Read More
Part 3: What are the Impacts to the Payer? Here we are specifically going to explore why a payer may intentionally want to pay a worker in a specific way. Usually, a payer would prefer to pay their workers as if they were independent contractors. Why is this? The payer does not need to calculate,…Read More