Do you use corporations for joint venture developments or business ventures?
Did you know that the payments your corporation will be receiving from these development and business ventures may be taxed at the general corporate tax rate of 26% and not the small business tax rate of 13.5%? There are new rules for tax years that begin on or after March 22, 2016, that restrict the small business deduction on payments between private corporations.
Concerned that you might be in this situation? Contact us and come in for a coffee to discuss your situation.