• Collins Barrow

    Collins Barrow Calgary LLP

    A founding member of the Collins Barrow network, we have been providing audit and assurance, tax and business advisory services to a diverse client base for over 87 years. With more than 100 team members, we offer resources and personalized, responsive service to local owner-managed businesses, private enterprises, public companies and not-for-profit organizations.

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    Designing Internal Controls for Small Organizations

    Designing internal controls for a small business or organization is a difficult task for management and/or the board to undertake. There are some that say it cannot be done because there are too few employees in the organization. We disagree. It can be done with a bit of forethought about the design of the workflow that needs to be accomplished. To begin the process, consideration needs to be given to the four major components of internal controls: control environment, risk assessment, technology and monitoring.

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    Collins Barrow Durham hosts Durham Exports business conference

    Courtice, ON - On Wednesday, September 14, Collins Barrow Durham will host Durham Exports (www.durhamexports.com), a conference on building business opportunities and growth through exporting. This is a rare opportunity for business leaders to enjoy a day of intensive networking and learning.

The Latest at Collins Barrow Calgary

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    Farm succession planning: Insights into gifting to children

    A common question that we often get as farm tax advisors is whether or not farm property can be transferred to the next generation by way of a gift. This topic is becoming more and more important as nearly half of all farmers in Canada are 55 years of age or older and are preparing themselves for succession. Succession planning is the most discussed topic between farmers and their tax advisors. Contributing to this dilemma is that rising land values is creating significant amounts of wealth and making life difficult for the farmers to equalize their estates when there are active and non-active children involved in the farming business. Succession has become much more difficult, and a traditional solution of life insurance and non-farm assets may not be enough to equalize the estate.

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    “Smaller” multinational enterprises & transfer pricing

    How saving $20K nearly cost this taxpayer $2.7 million!

    It seems that every day now there is an article of some sort addressing aggressive tax structures, often utilizing offshore entities, and the ramifications of (implied) inappropriate, underlying transfer pricing policies. Recently, this has clearly been due to the news of the “Panama Papers” disclosure or, more generally over the past couple of years, the result of the recently finalized Base Erosion and Profit Shifting Project reforms published by the Organisation for Economic Co-oporation and Development.

    Collins Barrow

    Revenue Recognition for Technology Companies for Multiple-Element Arrangements under IFRS 15

    The International Accounting Standards Board (IASB) has published a new standard, IFRS 15 Revenue from Contracts with Customers (IFRS 15). IFRS 15 sets out requirements for recognizing revenue that apply to all contracts with customers and replaces the myriad of current revenue standards.

    This new standard is effective for annual reporting periods beginning on or after January 1, 2018. 

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    Collins Barrow Leamington is opening a new office

    Leamington, ON - After more than 35 years of business in its current location, Collins Barrow Leamington is opening a new office. Having outgrown the 4,100 square feet at 92 Talbot Street East, the firm’s 17 staff members and four partners are upgrading to a 7,000 square foot facility at 203 Talbot Street West, adjacent to Leamington Medical Village

    Collins Barrow

    Planning for U.S. expatriation – The ins and outs of IRC 877A

    The past several years have been a wild ride for many U.S. taxpayers (and tax practitioners), in particular for those residing outside of the country. While there are a surprising number of U.S. persons still grappling with becoming compliant, in general, the progression to considering expatriation has been somewhat predictable, as follows.

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    U.S. proposes new rules for related-party debt

    On April 4, 2016, the U.S. Treasury Department and the IRS issued proposed regulations which govern whether certain related-party debt instruments will be classified as either debt or equity for U.S. federal income tax purposes. These rules are designed to prevent the excessive shifting of profits between related entities by way of interest charges on related-party debt instruments.

    Collins Barrow

    Farm businesses! Make the most of government funding

    Due to the complexity of government subsidy and funding programs and the many steps involved in applying for them, farmers don’t always take advantage of the opportunities available to them. In some cases, farmers who already rely on one program mistakenly believe that there’s nothing else out there for them. That may not be the case, however.