The TTI Suite – Tax PlanningPrecise projections to facilitate tax planning and informed decision making.
Salary vs Dividend (1) Optimization
This new worksheet optimizes the integrated corporate and personal cash outcomes of remuneration strategies for one shareholder (single or married) using salary, eligible dividends, other-than-eligible dividends, capital dividends, or a capital gains strip.
The worksheet supports two objectives. The first is the net cash amount to the individual, for example, how to clear a shareholder debit balance, or provide a specified after-tax amount. The second is the net cash decrease to the corporation, maximizing the after-tax cash personally with a cash amount the corporation is looking to pay.
This worksheet will provide the tax and cash results, before and after, for both the corporation and the shareholder included in the worksheet.
The worksheet supports many corporate tax details such as NERDTOH, ERDTOH, GRIP, and AAII, along with accurately quantifying many corporate costs such as CPP, EI, employer health taxes, and fees.
The worksheet also supports personal tax details by taxpayers for amounts such as TOSI, carry-forwards balances such as RRSPs and donations, clawbacks of transfer payments such as CCB and OAS, and TTI’s proprietary optimization algorithms to maximize net cash.
Tax Planning Features
TTI’s robust tax engines support a comprehensive list of total and marginal incomes, deductions, non-refundable credits, refundable credits, transfer payments, and more. Complex elements such as TOSI, AMT, Capital Gains Exemptions, Foreign Income and Foreign Tax Credits, Donations, NERDTOH, ERDTOH, GRIP, CDA, AAII, and much more are supported. Some other highlights include:
- 2021 indexed rates and credits
- Tax rates through to 2028
- Discretionary amounts optimizer
- Eight side-by-side tax engines
- Support for up to six dependants
- Complete Federal and provincial transfer payments
- Provincial refundable credits
Tax Planning Worksheets
Assets vs Shares
The biggest decision many entrepreneurs and investors will face is the sale of a business. It’s a high stakes transaction, with sellers eager to get maximum after-tax value on their investment.
Accurately determining the after-tax cash on the sale of a business requires extensive modelling of corporate and personal tax outcomes.
With TTI’s Asset vs Shares Worksheet, you can build multiple transaction scenarios, and compare the results in a practical summary. See how your options stack up, whether you’re selling assets, shares, or a strategic hybrid.
This worksheet is comprehensive, with support for up to six individual and six corporate shareholders. We support individual capital gains exemptions, ABILs, minimum taxes, and the impacts of key transactions before the sale such as safe income stripping and purification.
Tax experts will no longer spend frustrating days or weeks modelling competing scenarios. Utilize this flagship worksheet to provide higher quality and value to your clients while freeing time for other areas of your business.
Corporate and Personal Tax Summary
This worksheet provides a complete overview of the corporate and personal taxes within a group.
You can track corporate income and taxes for up to eight corporations, and the personal taxes of up to eight shareholders/individuals.
Forget tax jackets or time-consuming custom summaries – with a few strokes, you can present results in as much detail as you need – from quick projections to balances based on exact amounts.
Corporate Asset Disposition
This worksheet determines the total corporate and personal taxes resulting from the disposition of corporate capital assets and subsequent distribution of the net proceeds to a shareholder. Multiple scenarios are supported to determine the ideal remuneration strategy.
With a few simple inputs, this worksheet calculates the capital gain or loss, applicable recapture or terminal losses, corporate taxes, and personal taxes.
The calculations consider a broad set of elements, including GRIP, RDTOH, CDA, non-capital losses, and capital losses to provide a comprehensive solution – precisely built to your client’s corporate and personal tax situation.
Most clients will eventually ask the big question: “If I liquidate my corporation, how much cash will I receive?”
Confidently integrating the complicated web of taxes is now easy with TTI’s Corporate Liquidation Worksheet.
With a few key corporate and personal inputs, you will have a precise solution for any need. This worksheet determines tax results related to capital assets, eligible capital property, and other assets. It also considers other balances in play, such as GRIP, RDOTH, and CDA for a comprehensive view of taxes.
The Corporate Liquidation Worksheet supports up to six shareholders, allowing you to design a remuneration strategy that considers the total impact. Forget tedious standalone calculations, and deliver value to your clients with clear, accurate results.
Corporate Tax Scenario
This worksheet projects corporate tax outcomes for CCPCs or other private corporations.
This solution has been built for lots of flexibility. You can project up to eight scenarios – either several for one corporation, or a corporate group in one document. You also have the option to easily change between provinces, tax years, or any other variables.
The worksheet supports many key tax balances such as GRIP, NERDTOH, ERDTOH, CDA, AAII, loss carry-forwards, donations, and more for comprehensive results and detailed tax planning.
“Should I incorporate my business?” This classic question has a fresh solution with the Incorporation Savings Worksheet. Determine your client’s cash needs, and let our worksheet show the results.
This worksheet projects the benefit of operating a business through a corporation vs. as a sole proprietorship, based on the after-tax cash needs of an individual.
We calculate the tax deferral available through incorporation under both salary and dividend scenarios for clear analysis. Our worksheet provides the quantitative analysis, and allows you to focus on qualitative considerations.
The Integration Worksheet determines whether it is more tax efficient to earn different types of income through a corporation, or personally.
Each solution is precisely calibrated to your clients’ personal income. The template also comes with key average tax rates, the tax savings (cost) using a corporation, and potential tax deferrals.
We’ve made limited-scope tax tables obsolete – this worksheet is a must have for any tax professional.
Personal Tax Scenario
This worksheet projects the tax effects of income, deduction, and tax credit situations, and determines after-tax amounts.
It’s built for maximum flexibility, and to clearly illustrate personal tax effects for you and your clients.
Whether you’re comparing different forms of income on an after-tax basis, the impact of tax rates between tax years, or how earning income in a different province affects your taxes payable, the ease of use and customization allow you to do it all with confidence.
This worksheet quantifies the net cash benefit of splitting investment income by shifting income from an individual at a high tax rate to one or more individuals at a lower tax rate.
The worksheet supports prescribed loan planning with a spousal loan or prescribed loan planning through a Family Trust with up to six beneficiaries.
Salary vs Dividend (8)
This worksheet projects the corporate and personal outcomes of remuneration strategies for up to 8 shareholders/employees using salary, eligible dividends, other-than-eligible dividends, capital dividends, or tax-free amounts.
The worksheet will provide the tax and cash results, before and after, for the corporation and each individual included in the worksheet.
It support many corporate tax details such as NERDTOH, ERDTOH, GRIP, CDA, AAII, along with accurately quantifying many corporate costs of remuneration strategies such as CPP, EI, employer health taxes, and fees.
The worksheet also supports personal tax details by taxpayers for amounts such as TOSI, carry-forwards balances such as RRSPs and donations, clawbacks of transfer payments such as CCB and OAS, and TTI’s optimization algorithms to maximize net cash.