How A Business CPA Can Help Streamline Your Tax Planning
Small business owners in the Lower Mainland often view tax season with a sense of mounting dread. It usually feels like a chaotic scramble to gather receipts and invoices while simultaneously trying to interpret the latest updates from the Canada Revenue Agency. However, tax planning should never be a once-a-year emergency that happens in April. […]
A Guide for Small Business Owners on Maximizing Deductions
Tax season is here and for small business owners, understanding your deductions can help you keep more of your hard-earned money in your business. Although the Canada Revenue Agency (CRA) allows for various deductions that can significantly reduce your taxable income, many business owners either overlook them or fail to keep the necessary records to […]
Explaining the UHT And the Extended Deadline
Due to rising questions about housing affordability over the last few years, the Canadian government is taking measures to increase affordability and penalize those who own an uninhabited home. With the creation of the Underused Housing Tax (UHT), millions of property owners in Canada must pay a 1% tax on the value of their empty […]
Effective Debt Counseling Strategies for Small Business Owners
Effective debt counseling is one of the most valuable tools small business owners can use when financial pressure starts to build. That’s because running a business often involves loans, lines of credit, and payment plans, but without a structured approach these obligations can quickly overwhelm cash flow. Debt counseling provides practical steps to regain stability, […]
Do I Charge GST or HST On Sales to Other Provinces?
If you are running a business, self-employed, or a contractor in Canada, you may be required to charge GST or HST on sales to other provinces. GST and HST are charged by businesses and contractors that no longer qualify as small suppliers. The rate of GST or HST you charge will depend on where business […]
What Goes into a Business Financial Statement?
Financial statements are completed every quarter and provide clear insight into the operational health of any business. Financial statements are commonly used by investors, analysts, and reporters to research operational performance. Are you wondering what goes into a financial statement, and what is it used for? A business’s financial statement will show you detailed and […]
