Pricing the expansion to a new market is an important part of the business plan. We can help you quantify:
- The tax costs of entering a new market;
- The compliance costs of doing the paperwork that comes with a new market; and
- The advisory costs of learning and building systems for a new market.
We have standard pricing for many of the paperwork items you need to handle. This helps you by giving you certainty and also by helping you price out your business plan. More importantly, we help you quantify the cost of “surprises” and more importantly, give you strategies to avoid tax surprises. All business owners are working to minimize surprises in our current business world.
There are many tax projects that people would like to quantify.
Here is an example. What is the cost of a Quarterly GST return in Canada? The quick answer is $300. The longer and more important answer is that you must also consider these costs:
- Cost of missing the deadline and filing late returns can quickly become thousands of dollars. Penalties are usually related to three things:
- Fines for being late;
- Interest penalties; and
- Lost opportunity for reducing amounts caused by losing credits available for those that file on time.
- Cost of missing the refunds available can also add up quickly. Not all tax returns have payments. Many businesses in our current challenging business world are actually filing for refunds of overpayments of tax.
- Cost of audit if returns are misfiled and trigger audit flags.
Our initial consultation with you covers these conversations of costs versus surprises.