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small business accountant Mississauga

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

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 picture of your business’s financial health and identify areas for growth. Partnering with an experienced small business accountant in Mississauga, like Madan CPA, can help simplify this process, reduce financial stress, and allow you to focus on growing your business. Read More

by MadanCA Team on November 16, 2024 @ 5:40 pm

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GST/HST on Real Estate Development

Due to continuous demographic, technological, environmental, and social changes, Canada is undergoing constant urbanization. This process of urbanization helps Canada’s real estate market, which is currently attracting many real estate investors and developers. This article discusses the GST/HST rules that are applicable to a “builder” of real estate. Builders For GST/HST purposes, even though a … Continue reading GST/HST on Real Estate Development

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Interest on borrowed money for investment property

If you are a real estate investor and are thinking of borrowing money to make your next purchase, continue reading this blog.  Learn how you can save taxes by claiming tax-deductible interest!

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Strategies to eliminate tax debt with CRA assistance.

Do you have outstanding tax debt obligations that you have to pay the Canada Revenue Agency? There are a few different methods in which you can eliminate this debt.

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Moving Expense Tax Deductions

There are various deductions that are available for an individual who is preparing a tax return. Today, we will talk about moving expense, who are eligible for it, and the amounts that should be claimed for these deductions when you file your tax return. Conditions on eligibility Primarily, you must be a deemed or factual … Continue reading Moving Expense Tax Deductions

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US Expatriation Tax

Expatriation tax is imposed on individuals who renounce their U.S. citizenship and certain long-term U.S. residents who terminate their residency status.  This tax regime was introduced in 1966 and has been subsequently amended many times.  The most current version of this tax regime is outlined in the Heroes Earnings Assistance and Relief Act (HEART) of … Continue reading US Expatriation Tax

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Tax Implications of Crowdfunding

Today we are talking about crowdfunding and it’s tax implications. So if you’ve ever thought about using this new method of raising capital to startup your new business, or to develop a market for a new product

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Deductible electronic gadgets for businesses.

Many small business owners do not realize that a large majority of electronic gadgets and equipments that they use in the operation and functionality of their business are taxable.

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Capitalization process and tax credits in manufacturing.

A tax incentive for Canadian manufacturers is accelerated depreciation of manufacturing assets and corporations can maximize via a true valuation of its capital asset. In this sequel we quantitatively highlight how accurate asset capitalization involves your engineer and accountant. Example Consider a fictional Canadian corporation, ABC with the following simplified expense. Over two year period, … Continue reading Capitalization process and tax credits in manufacturing.

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Employee Benefits in a Tax Free Country

If you temporarily relocate abroad for work, you may be entitled to numerous employee benefits. Some of these benefits include costs related to living and transportation.

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Filing for a “Regulation 105 Waiver”

If you are a non-resident rendering services in Canada, you will be subjected to a 15% withholding tax. By filing the ‘Regulation 105 Waiver’ you can reduce and or eliminate this.

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