4 minutes to read For family-owned businesses, succession planning is about more than just passing down ownership; it’s about preserving the family legacy, ensuring tax efficiency, and managing complex
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Profit Leaks in Small Businesses: Identifying and Fixing Hidden Costs That Drain Your Bottom Line
4 minutes to read Running a small business comes with numerous expenses, but hidden or inefficient costs can quietly drain profits without notice. These “profit leaks” might seem minor individually, yet they add up over time, impacting your bottom line.
Preparing for CRA Audits: Common Red Flags and How to Stay Ahead
4 minutes to read As a business owner, the thought of a CRA audit may be daunting. But by understanding common audit triggers and adopting best practices, you can significantly reduce your chances of being audited. Preparing proactively can also streamline the audit process if you’re ever selected.
Cloud Accounting: Revolutionizing Your Financial Management
2 minutes to read Cloud accounting is transforming how businesses manage finances by offering real-time data, seamless collaboration, and automation. This shift allows companies to operate more efficiently, make timely decisions, and reduce costs. Here’s why cloud accounting is a game-changer:
Unlocking Wealth: How Corporate Life Insurance Can Help Your Business Build and Access Cash, Tax-Free
4 minutes to read Corporate life insurance offers unique advantages that go beyond traditional coverage, helping business owners build wealth within the company while providing access to cash when needed.
Canadian Tax Foundation – 2016 Current Issues
7 minutes to read Each year there are a large number of changes to the Income Tax Act (“ITA”) of Canada as well as points of clarification provided by the Canadian Revenue Agency (“CRA”) and the Tax Court of Canada. This article will discuss some of the more important points related to the 2016 tax year.
Taxation of Real Estate (rental property)
Corporate structure: First what you should do before buying a rental property is determine whether to register a corporation for this purpose or make a purchase as a private person. If you are able to pay for insurance when acquiring a property, the benefit from using a corporate structure will be insignificant. Since year 2011…
Canadian Tax Foundation – 2016 Current Issues
Each year there are a large number of changes to the Income Tax Act (“ITA”) of Canada as well as points of clarification provided by the Canadian Revenue Agency (“CRA”) and the Tax Court of Canada. This article will discuss some of the more important points related to the 2016 tax year. (more…)
