Franchisees & Franchisors Services
What can we do for franchisors?
- Audits, royalty audits and assurance services
- Franchise and finance structure planning
- Internal control and IT risk reviews
- Business and personal tax planning and preparation
- Succession and estate planning, business valuations and mergers and acquisitions assistance
- Employee benefit plan audits and tax filing
- Fraud prevention and detection
- Financial reporting and performance benchmarking
What can we do for franchisees?
- General bookkeeping, tax, accounting and payroll services
- Business plan development and assistance with financing
- Audits, reviews, compilations and business valuation
- Internal control reviews and fraud prevention and detection
- Key performance indicator (KPI) and best practices consulting
- Personal financial and estate planning
Did you know?
When investing in a franchise, the initial franchise fee paid for the acquisition of the franchise may qualify as depreciable property. This will allow a taxpayer to claim depreciation on a straight line basis. A franchise fee will qualify as depreciable property where the franchise term is limited and will not be subject to the half year rule. However, where the franchise term is indefinite, the fee paid is treated as an eligible capital expenditure and subject to less favourable tax treatment.
It is the Canadian resident franchisee’s obligation to withhold and remit Canadian taxes on royalties paid to a non-resident franchisor. The Canadian resident franchisee can be assessed the amount of taxes due plus applicable penalties and interest for failing to remit.
