Understanding Corporations and how to use them to effectively operate, grow , transition or exit your farm.

One day or less

 

Based on very positive reviews from last year we are again offering this one day workshop, November 14th 2014 and again on January 14, 2015 We feel that this is an opportunity to fill an educational gap that often exists in the many details of forming, operating and dissolving a corporation.  It will dispel many myths, as well as create awareness of pitfalls to avoid. The subject material is presented in a simple manner that will add to the knowledge of corporate newbies, wannabes or seasoned shareholders

· Points to consider in making the decision to incorporate

· What is involved in setting up a corporation

· How assets are transferred to a corporation and how preferred shares and

       shareholder loans are received as payment

· Understanding best practices of operating a corporation and keeping records for a

       corporation

· Basics of corporate income tax, specifically understanding the Small Business                 Deduction, active and inactive income, Refundable Dividend Tax on Hand, 

     GeneralRate Income Pool, Capital Dividend Account

· Removing funds from a corporation; wages, dividends or shareholder loans

· Tax treatment of using corporate assets for personal use and visa versa

· The corporation as beneficiary of life insurance

· Corporate funded medical plans

· Using a corporation to effectively grow and operate your farm

· Using a corporation to accomplish intergenerational transfer of the farm

· Using a corporation to exit the farm

· Purifying a corporation so that the rollover rules and capital gains deduction are

       preserved

· Winding up a corporation

 

 

•  

$500.00 per individual or $750.00 per couple

Farm Managers

Certificate

Each participant will receive a certificate indicating they have completed the course

Workshops

The workshop will take place in a group setting with materials provided for following along and referencing.  There will be some hands on work and discussion of individual scenario's using the information that has been learned

Daytime
Year-round

We have prescheduled 2 workshops to take place in Fillmore SK this year November 14, 2014 and January 14, 2015.  We will consider taking this program to other locations at other times if requested.

General

Business Planning, Strategy and Structure
Financial Management (includes production economics)
Succession Planning

English

(306) 722-3884
Visit the program Web site
Kelvin Shultz, Accountant