As a business owner in Canada, it’s important to understand the cost of small business accounting and tax services. The cost of these services can vary greatly depending on the level of support and guidance you need. Traditional small business accounting and tax services, such as preparing and filing tax returns, can be reasonably priced,…
Introduction Emigrating from one’s home country can be an exciting but complex endeavour, filled with anticipation and a host of logistical and emotional challenges. Among the many factors to consider when leaving Canada, tax implications often loom large. Proper tax planning can make the difference between a seamless transition and unexpected financial burdens. This blog…
Joint ventures (JVs) in the construction industry offer small businesses a unique way to collaborate on projects, share resources, and mitigate risks. However, navigating the accounting and tax implications of construction JVs can be complex. In this comprehensive guide, we’ll explore the key aspects of accounting for small business construction JVs, helping you make informed…
Small business owners in the construction sector often find themselves juggling a multitude of responsibilities, from managing projects and budgets to ensuring a steady stream of work. Amidst all this, it’s crucial not to overlook income tax, as it plays a pivotal role in the financial health of small construction companies. In this comprehensive guide,…
In the expansive world of construction and real estate, where brick and mortar tangibly represent success, there’s another crucial cornerstone that can determine the longevity and prosperity of a venture: small business accounting. Joe’s journey exemplifies just how pivotal strategic financial planning can be for builders. Meet Joe: A Snapshot into the Builder’s World Joe…
Navigating the tumultuous economic waters of today, especially for small builders and general contractors, is no mean feat. With steep borrowing rates and a volatile market, businesses are looking for a ray of hope. Luckily, this glimmer comes in the form of legislative changes in Canada, which, though promising, bring their own set of complexities,…
Introduction If you’re a part of a Business Networking International (BNI) group, you already understand the value of networking and word-of-mouth recommendations. But in today’s digital age, another form of endorsement has rapidly gained importance: online reviews. With platforms like Google and Yelp influencing customer choices more than ever, ignoring the potential of online reviews…
Introduction In today’s fast-paced business world, time and efficiency are crucial factors that can make or break a company’s success. Cloud accounting and bookkeeping have emerged as game-changers, revolutionizing traditional financial management practices. In this blog post, we will explore how you can transform your business by leveraging cloud accounting, streamline your processes, save time,…
Introduction Navigating the complexities of corporate income tax as a Canadian Controlled Private Corporation (CCPC) can be a daunting task. One crucial aspect that CCPCs must address is the calculation and reporting of taxable capital employed in Canada. However, finding clear guidance on this matter from the Canada Revenue Agency (CRA) website can prove challenging….
Demystifying the Deceit: What Really are Tax Scams? As conscientious taxpayers, we’re always on guard for suspicious activity. The fear of falling prey to an income tax scam can often loom large, especially when faced with communication that purports to be from the Canada Revenue Agency (CRA). This communication often requests intimate personal information, such…
The Canada Revenue Agency (CRA) is dedicated to improving its services to better serve Canadians. As part of this commitment, the CRA has introduced enhancements to its online services, Change my return and ReFILE, allowing individuals to easily request changes to their tax returns. These services provide a convenient and secure way for taxpayers to…
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