According to a report published by the Government of Canada in 2020, the country is home to 1.2 million small businesses. These numbers show that most businesses in Canada are small companies, as Canada only has 22,725 medium-scale businesses and 2,936 large corporations. Additionally, from 2014 to 2018, 97,640 small businesses were launched annually. Small businesses in…
As a business owner, you understand how important it is to stay profitable. One of the ways to maximize your profits is by minimizing your expenses, and one of the most significant expenses for any business is taxes. Taxes can be a complex subject. But, with the help of professional corporate tax services, you can…
In 2022, 31,231,522 people in Canada filed taxes. Whether you’re a resident or a nonresident of Canada, you will have certain tax liabilities. The good news is, you don’t have to pay tax on everything. That’s a relief, isn’t it? There are two kinds of things that are not taxed: zero-rated and exempt. Zero-rated items are…
Everything we did before on paper is now done online in this digital era. From paying bills to filing taxes, it’s all a click away now. However, the increased use of the internet also comes with its downsides: security risks. Scams, hacking, etc., have become common and put our personal information at risk. Therefore, it’s…
Understanding corporate tax deductions is an essential part of running a successful business. Whether it’s through ordinary and necessary operating expenses or capital expenditures like machinery purchases – understanding how tax deductions work can help you maximize your profits In this blog, our tax accountants will break down the ins and outs of corporate tax deductions…
Tax-related issues require careful thought and consideration. Dealing with the IRS is a serious matter, and any blunder made by your staff or tax preparer can lead to many problems. When you’re facing an IRS audit, it’s best to hire a tax attorney. They can handle everything from legal issues to removing liens on your…
How buying pre-construction condos can minimize the tax implications if one decides to sell the property as an assignment before closing.
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