In the News Archives

Allan Madan: Use Social Media to Grow Your Accounting Business

The rise of social media and digital marketing has changed the way that an accounting and tax professional can market themselves. Traditionally, accountants would utilize traditionally forms of print advertising to market themselves. However, with how affluent social media and online digital content has become, it is in the best interest of small business accounting … Continue reading

Everything You Need to Know about Tax Audits

While it is impossible to completely avoid being audited,there are many different strategies that a small business can take in order to greatly minimize their risks.These include avoiding many red flags that raise suspicion and may trigger an audit. To learn more about these strategies and red flags, take a look at this article on … Continue reading

A Simple Tax Preparation Checklist

Corporate tax returns are never fun for entrepreneurs and small business owners They can however simplify this process by ensuring that they have a checklist of requirements they need. A tax preparation checklist usually includes having all your general information, proper documentation for expenses, bookkeeping and financial statements. You can find out more by reading … Continue reading

Tax Credits for families with Children

Families with children can take advantage of the wide ray of tax credits provided by the Federal and Provincial Governments of Canada. Some of these tax credits include the Canada Child Tax Benefit (CTB), Universal Child Care Benefit, and the Children’s Activity and Arts Tax Credit. You can learn more by reading this article on … Continue reading

Do Canadians Living Abroad Have to Pay Taxes in Canada? That’s Tricky

Some Canadians that live and work outside Canada are still residents for tax purposes and they may not… realize this. They assume because they are not working in Canada, they face no tax obligations. In most cases these people still have some ties to Canada and are treated as residents for tax purposes. You can … Continue reading

Top Tax Mistakes Made by Entrepreneurs

Many entrepreneurs make basic tax planning mistakes that can potentially cost them thousands of dollars per year. Some of these include not claiming relevant business expenses, not incorporating their business and not consulting with a tax and accounting professional; to ensure that they have the proper tax planning in place and that their tax compliances … Continue reading

Small Business Tax Tips

There are a number of different tactics that small businesses can use to remain competitive… and save taxes in this market. Some of these tactics include writing off business expenses, using the small business deduction, declaring a bonus and maximizing tax credits available to them. To learn more you can read this article on ways … Continue reading

This Week in Small Business: the Van Halen Principle

New macroeconomic policies and changes in the Federal Budget have large economic tax implications for small business owners in Canada … The recent Federal Budget has altered tax legislations that may large looming tax implications for small business owners. This situation illustrates the Van Halen Principle at work. You can find out more information by … Continue reading

Slash Your Taxes

Families can adopt a myriad of different strategies to reduce their tax obligations and increase their financial savings…. A few of these strategies include investing in the lower earner’s name, loaning money to a spouse, setting up a spousal RRSP and contributing to a child’s TFSA are just some of the potential options. To learn … Continue reading

Category: In the News