Business owner tax solutions
Making your business work for you, not the other way around
Business owner personal income tax planning
Business expense deductions
Corporate structures and tax planning
Exit strategies and succession planning
Maximizing income. Minimizing tax.
As a business owner, your goal isn’t just to run a successful company — it’s to build a life that supports the people and priorities that matter most. That’s why at Clarke & Khan, our work goes beyond bookkeeping and tax returns. We take a holistic approach that supports both the financial health of your business and the long-term well-being of you and your family. Let’s build your legacy together.
We help you answer questions like:
Is this a business expense?
How do I best pay myself?
Should my business be a corporation, sole proprietorship, or a partnership?
What’s a holding company and do I need one?
And we don’t stop there.
How to pay yourself as a business owner
One of the biggest financial questions we help business owners answer is:
“How should I pay myself — salary or dividends? And what’s a management fee all about?”
The answer depends on your goals — income stability, RRSP contributions, childcare benefits, tax savings and corporate structure. We walk you through the pros and cons of each and create a plan that aligns with your personal and business finances.
If you're incorporated, you typically have four options:
Pay yourself a salary
Take dividends
Use a mix of both
Leave profits inside the corporation
While both salary and dividends can be effective, the right choice depends on your cash flow, personal goals, and tax planning strategy. If you have a holding company or another operating company, management fees potentially are another option we can consider.
Turn business expenses into tax savings
Just “write it off!” What does this even mean anyways?
One of the biggest advantages of being a business owner in Canada is the ability to deduct legitimate expenses before calculating taxable profit. While salaried employees earn income, pay tax, and then spend what’s left — business owners operate differently. The business earns revenue, subtracts expenses, and only pays tax on the remaining profit.
This can make a major difference to your bottom line — especially when you understand which costs can legally be “written off”.
Some common deductible expenses that we help business owners optimize include
Office Supplies
Rent or Home Office
Mortgage Interest & Property Taxes
Utilities & Internet
Cell Phone Plans
Computers & Equipment
Meals & Entertainment
Charitable donations
Vehicle Expenses
Be careful though, as incorrectly categorized costs can get you in trouble with the CRA. If you are a new business owner just learning about this stuff for the first time, or an experienced business owner who has not been doing this to date, let’s have a chat and we can walk you through all of this.
Tax planning and corporate structuring for Canadian business owners
They don’t teach us this stuff in school - but we’ll teach it to you, and walk with you every step of the way.
Our team works with you to structure your company in a way that minimizes tax, builds long-term wealth, and creates room for generational planning - all within the framework of the existing tax system (yes, the one built by the wealthy to stay wealthy). We guide you through corporate structuring, holding companies, family trusts, share classes, director and beneficiary planning, and more - always tailored to your unique current situation and goals.
Whether you’re planning to start a family, provide for your children’s future, or just take home more of what you earn, we’re here to help you use your business as a powerful vehicle for financial freedom.
Exit and succession planning
We help Canadian small business owners design and execute exit strategies that maximize value, minimize tax, and ensure a smooth transition - whether you’re planning to exit in 12 months, 20 years, or more.
Exit and succession planning begins with a clear vision of the end goal, with effective planning allows business owners to prepare for a smooth transition, maximize value, and avoid unnecessary tax. Whether you're launching a new company with a future exit in mind, preparing to pass your business to a family member, selling to a third party or private equity firm, or stepping back into a governance role, thoughtful planning ensures your structure and strategy support your long-term objectives.
A well-designed exit plan focuses on both tax efficiency and practical execution. By using the right combination of operating companies, holding companies, trusts, and share classes, owners can protect assets, reduce tax burdens, and optimize their eventual payout. Beyond strategy, professional support with valuation, deal structuring, negotiations, and financing ensures the transition is financially sound and aligned with the owner’s vision for the future.
How can we help?
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