Industries

Burkett & Co. is a family-owned business. Our first-hand knowledge uniquely positions us to understand and serve owner-managed clients in a variety of industries, including but not limited to: Manufacturing, Industrial Service, Car Dealerships, Hospitality & Tourism, and Retail clients.

We work with business owners to address:

• Purchase or sale of businesses
• Preparation and design of understandable reporting to measure business performance
• Tax compliance
• Tax planning and minimization strategies
• Business succession planning and advisory
• Family business advisory
• General business advice

Burkett & Co. serves incorporated professionals from a variety of fields including medical, legal, and dentistry.

We understand the needs of new and experienced professionals differ so we offer advice accordingly in the following areas:

New professionals

• Decision and timing of incorporation
• Establishment of easy to use accounting systems
• Tax strategies and compensation alternatives to lessen tax burden
• Purchase of professional practices

Experienced professionals

• Ways to best achieve financial goals
• Tax optimization strategies in preparation for retirement
• Sale of practice to another professional and determination of a fair price

Investment holding companies owned by our clients are often the result of a family inheritance or the sale of the assets of an operating business. The combined expertise of our team with that of our affiliate, Burkett Asset Management Limited, ensures we efficiently provide comprehensive tax, accounting and investment advice.

We work with owners of investment holding companies in the following areas:

• Provide strategies for optimizing the mixture of investments to defer tax or otherwise reduce it
• Accounting and filing taxes appropriately for a diverse range of securities and investment types
• Tax disclosure of foreign investments
• Ensuring efficient completion of year-end engagements to reduce the administrative cost of maintaining an investment holding company
• Evaluation of the investment performance relative to other managers, to benchmark market rates of return, and to desired tax outcomes

The experience of our advisors enables them to serve the unique needs of real estate owners, developers, and construction businesses effectively.

We provide industry-specific expertise and advice for the following:

Construction and Development industry

• GST and WCB filing preparation and review, considerations associated
• Employee vs. contractor arrangements
• GST considerations associated with new construction
• Accounting for joint ventures and partnerships

Real estate owners

• Review of GST considerations regarding co-mingling ownership of residential (GST-exempt) and commercial (GST-taxable) properties on behalf of corporate clients
• Negotiation support to dissolve family real estate corporations as part of an inter-generational transfer
• Tax analysis of active vs. passive income as it pertains to the limits and effects on corporate tax rates for which a small business is eligible