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Partnership Distribution Timing Trap: Toronto Tax Lawyer Guide - Tax


Legal Forms for Canadian Businesses -Partnership Distribution
Timing Trap
The Canadian legal environment provides businesses with a number
of different choices for legal forms to structure themselves, most
prominently corporations, sole proprietorships, partnerships and
limited partnerships. These forms have different legal and tax
aspects associated with them. Partnerships are a useful business
form with significant tax advantages, but also some unexpected
traps for unwary taxpayers. This article briefly summarizes the tax
aspects of partnerships in the Canadian legal landscape and
describes particular partnership tax traps that our experienced
Toronto tax lawyers make sure our clients avoid.
Sole Proprietorships
If an individual begins carrying on a business by themselves ....

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