Category: Feature Articles
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 Best Practices for Financial Success: Pro Tips from a Trusted Small Business Accountant Mississauga
Top 10 Tax Write-Offs | Corporate Tax Accountant in Toronto
Top 10 Tax Write-Offs Every Toronto Business Should Know:Maximize Your Deductions with a Corporate Tax Accountant 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 Purchasing Foreign Real Estate and FAPI Taxes
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 Understanding Car Allowances
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 Tax implications for non-resident earning rental income
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 Why Canada Needs Corporate Tax Reform
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
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