Feature Articles Archives

5 Key Factors in Choosing a Business Structure

Starting a business is an exciting venture that gives you freedom over your schedule, the opportunity to profit from your efforts, and allows you to offer valuable services or products to your community. At the same time, your business demands certain responsibilities, such as paying taxes to the Canada Revenue Agency or taking on liability … Continue reading

Year-End Tax Planning To Minimize Your Tax Bill

As we get closer to the end of the year, now is the perfect time to take advantage of year-end tax planning to minimize your personal tax bill due in April of next year. While some strategies can be applied to businesses as well, these tax strategies are tailored to individuals filing their T1 – … Continue reading

Tax Accountant Mississauga: Tax Strategies for High-Net-Worth Individuals

For high-net-worth individuals, navigating tax laws is essential for preserving and growing wealth. Effective tax strategies reduce liabilities and optimize financial gains. Partnering with a tax accountant in Mississauga ensures compliance with Canadian tax laws while capitalizing on deductions.

Tax Implications of Leaving Canada Permanently

Becoming a non-resident of Canada can offer a range of personal and financial benefits. Each year, an increasing number of Canadians opt for non-residency, particularly in light of the recent 2024 Federal Budget, which introduced tax increases for high-net-worth individuals. This has prompted even more Canadians to explore the possibility of relocating abroad.

Best Practices for Financial Success: Pro Tips from a Trusted Small Business Accountant Mississauga

Running a small business comes with unique challenges. From managing cash flow to staying compliant with tax obligations, the journey requires careful planning and strategy. For many small business owners, implementing the right accounting practices can mean the difference between smooth operations and financial chaos. By adopting these best practices, you can gain a clear … Continue reading

Top 10 Tax Write-Offs | Corporate Tax Accountant in Toronto

As a business owner in Toronto, understanding which expenses qualify as tax write-offs is essential for minimizing your tax liability and keeping more capital within your business.

Purchasing Foreign Real Estate and FAPI Taxes

The escalating housing market in Canada is compelling investors to explore real estate opportunities beyond their borders, such as in the US, Europe, and Asia. These investors often acquire foreign properties through intermediary entities known as foreign corporations. This preference stems from the liability protection and simplified compliance with local laws and regulations such corporations … Continue reading

Preparing A T5 Tax Slip

If you’re a business owner in Canada responsible for paying dividends or other forms of investment income, understanding how to prepare a T5 tax slip is essential. The T5 is a critical document that must be filed with the Canada Revenue Agency (CRA) to report these payments.

Understanding Car Allowances

For business owners and employees who use their personal vehicles for business purposes, a car allowance is a valuable benefit outlined by the Canada Revenue Agency (CRA) that should be taken advantage of. This allowance serves as the business’s method of reimbursing individuals for the business use of their personal vehicles. Understanding how to properly … Continue reading

Tax implications for non-resident earning rental income

The Canadian real estate market has been a lucrative investment opportunity for foreign investors due to Canada’s relatively stable economy. If you are a non-resident or a foreign investor looking to enter the Canadian real estate market, this article is for you! The article will help you understand your tax obligations, provide strategies to reduce … Continue reading

Trust No Accountant

Sanjeey Khatter, like many Canadians today, was in the dark as to how to file his taxes. Therefore he took on a tax preparer to assist him with his financial needs. What occurred after was an unfortunate mixture of poor judgment and severe carelessness.

Why Canada Needs Corporate Tax Reform

Much of the political rhetoric surrounding the Liberal Party’s win in the Canadian Federal election was centred on this notion of ‘change’, a promise of progressive changes that Canada needs in order to escape from the shadows of its Conservative predecessor. While looming issues such as the United Nations Climate Change Conference, the Trans Pacific … Continue reading

Tax-efficient strategies for Canadians buying U.S. property.

This article will discuss the top 3 strategies used by Canadian investors when purchasing a U.S. property. The goals of these 3 methods are to: Minimize risk Minimize tax burden Maximize returns

Category: Feature Articles