Articles: Tax Consultation

Last updated: Mar. 2, 2018 Earlier this week we provided a summary of the 2018 federal budget. There were a lot of concerns about how this latest budget would affect Canadian small business owners. For starters, there are a large number of key items in the 2018 federal budget which small business owners should pay close … Read more

Last updated: Feb. 21, 2018 On 20 February 2018, British Columbia Finance Minister Carole James tabled the province’s fiscal 2018–19 budget. The budget contains several tax measures affecting individuals and corporations.  The minister anticipates a surplus of $219 million for 2018-19, and projects surpluses for each of the next two years. Highlights New child care program … Read more

Last updated: Feb. 14, 2018 As a small Canadian business owner, having accurate and organized financial statements can help you run your business more efficiently and effectively. Financial statements are a barometer of your company’s success. Your business’s financial statements can include information on income, capital expenditures, cash flow, balance sheets, etc.   Financial statements also … Read more

Last updated: Jan. 31, 2018 Preparing income tax returns for small businesses can be daunting. Not only are the tax forms a little confusing, Canada’s tax laws change with great frequency and without fanfare; it’s up to you to keep track of everything going on at the Canada Revenue Agency (CRA). To avoid tax-related problems, ensure … Read more

Last updated: Jan. 17, 2018 Hiring a Tax Consultant for Your Small Business Hiring a professional tax consultant for your small business is a strategic move that could save your business a lot of money in the long run. A small business tax consultant is important to your business’ bottom line because they are there for … Read more

Last updated: Jan. 10, 2018 If you’re a small business owner, or thinking of starting a business, you may be wondering if and how you should structure your company. Of the 4 different ways to structure a business (proprietorship, partnership, co-operative, or corporation), incorporating has the most advantages for small business owners.  When is the right … Read more

Last updated: Jan. 3, 2018 Buying a business in Canada is a big, exciting step with many opportunities and risks. On the plus side, buying a business means you get an immediate revenue stream and customer base. The previous owner might even be able to help show you the ropes in the early stages.   On … Read more

Last updated: Dec. 20, 2017 Farm Operators and Property Taxes Farm properties can be quite varied and include working farms, farmland, outbuildings, specialized farms, fruit orchards, etc. On top of that, many Canadian farms also have a house on them that the owner/farmer lives in.   As a farmland owner, you may be eligible to apply … Read more

Last updated: Dec. 14, 2017 On December 13, 2017, the Government published details of its proposals to (in their view) simplify and improve the treatment of income sprinkling, which are proposed to be in effect for the 2018 tax year and beyond. The Canada Revenue Agency (CRA) has also released guidance with respect to these measures. … Read more