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Episode 128

Expert Tips on Business Taxes with Sunita Doobay

Navigating Tax Implications as Your Business Grows

In today’s episode, you’ll be diving deep into the world of taxes and exploring the critical role they play as your business expands and evolves. I’m thrilled to have Sunita Doobay, a highly respected tax partner at Blaney McMurtry, joining me as our special guest.

Understanding the Importance of Tax Planning:

As my business has grown, I’ve come to understand just how crucial it is to consider the tax implications and make necessary adjustments to my business structure. Having a trusted tax advisor by your side as you navigate the different stages of business growth is simply invaluable.

Navigating Cross-Border Tax Implications:

Expanding my business internationally brought a whole new set of challenges, especially regarding the subject of cross-border taxes. For instance, if you’re a US employer with employees working in Canada, you might run into payroll tax withholding complexities. Understanding the roles and activities carried out in different countries is important to ensure compliance and avoid any potential penalties.

Common Mistakes and Tax Planning Strategies:

Many individuals make mistakes when it comes to managing their business’s tax affairs. Staying up to date with changes in tax laws is absolutely critical, as failing to do so can have serious consequences. That’s where a knowledgeable advisor well-versed in cross-border tax implications comes in—they can be a game-changer.

Building a Strong Advisory Team for Business Success:

In the business world, having a strong advisory team is one of the most important things when it comes to success. I encourage all of you to take a close look at your current advisors and consider strengthening your advisory team. 

I highly recommend seeking advice from experts like Sunita Doobay, who can provide invaluable insights and ensure your business remains compliant with the ever-evolving tax laws. Remember, understanding tax laws isn’t just about compliance—it can also legally save your business money. Tune in to the full episode to learn more!

What’s in This Episode

  • Adjusting business structure as business grows
  • Common mistakes and challenges in business taxes
  • Importance of hiring advisors familiar with cross-border issues
  • Value of working with knowledgeable and effective advisors

What To Do Next

  1. Want to read more books? Join Thought Readers, my book club for business owners. It’s free to join in 2023, so don’t miss out on this great opportunity to learn with like-minded peers.
  2. Subscribe to receive this podcast and regular weekly strategies to grow and shape your business. You’ll also be the first to know about upcoming courses, programs, and exclusive LIVE training.
  3. Join the conversation on Instagram, Facebook, or LinkedIn and share your insights from the show.

Where to Find Sunita Doobay

Up Next

Next week I’m sitting and chatting with Darnyelle Jervey Harmon.

Expert Tips On Business Taxes

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Lisa Larter Bio Image of Lisa x400

Lisa Larter

Founder and CEO of the Lisa Larter Group, master strategist, author, speaker, podcast host, social media expert, consultant, and business coach. Lisa inspires entrepreneurs and business owners to see the possibilities for their organizations when it comes to strategy. She uncomplicates modern marketing and creates (and implements) strategies for businesses that are guaranteed to increase visibility, inbound leads, and revenue.

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