In Canadian taxation, we advise corporations on their tax affairs based on their figures.
Accounting Plus are ideally-placed to aid local business growth throughout a variety of industries in the Greater Toronto Area, with year-round tax and accounting advice and support. Our corporate tax accountants will work with you to help you determine how much you should be paying in taxes. Avail our corporate tax services in Markham and rest assured you’re only paying the amount you owe.
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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Read this complete guide to avoid being a victim of fraudulent tax preparation services.
Learn how to maximize your borrowing power & structure your portfolio in the most tax-effective way when building a large real-estate portfolio.
Tax season is right around the corner, and it’s that time of the year to file your 2020 Canadian personal income taxes. Accounting Plus Financial Services is ready to help!
Businesses heavily impacted by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
Check out our 2021 tax rates, including PERSONAL MARGINAL TAX RATES (Combined Federal & Ontario) AND MORE
Eligible small businesses will receive up to $20,000 through the new Ontario Small Business Support Grant. Applications are now open!
Not-for-profit employers are eligible to receive funding for up to 100% of the provincial or territorial minimum hourly wage. Public and private sector employers are eligible to receive funding for up to 75% of the provincial or territorial minimum hourly wage.
Canada Emergency Business Account will provide interest-free loans of up to $60,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.
The Canada Emergency Rent Subsidy (CERS) would provide direct and easy-to-access rent and mortgage support directly to qualifying organizations.
The Government of Ontario is helping small businesses with the unexpected costs of PPE.
Businesses that were required to shut down or significantly restrict services due to provincial public health measures (in areas with modified Stage 2 restrictions or categorized as control or lockdown) can apply for rebates, provided in the form of grants, to help with their fixed costs.
Did you know… As of October 1, 2020, Personal Real Estate Corporations (PREC) has been permitted in Ontario.
Individual Ontario real estate agents will now be able to incorporate their business.
Are you a real estate agent in Ontario?
Have questions about Personal Real Estate Corporation PREC?
Join the webinar with us and fill the form to save your spot today!
After Incorporation, What’s Next? Let’s find out how to do it right!
Successful applicants will receive a relief grant of up to $5,000. We intend to support local businesses of all kinds from across the country (from retailers to barbershops to farmers).
As of October 1, 2020, Personal Real Estate Corporations (PREC) has been permitted in Ontario. Accounting Plus can help!
New: Minimum wage rates in Ontario will increase on October 1, 2020. Under the Making Ontario Open for Business Act this increase is tied to the Ontario Consumer Price Index for 2020. The increase to the general minimum wage will be 25 cents, which will bring the new rate to $14.25 an hour. The general and specialized minimum wage…
There are a few ways accountants can help when you’re purchasing a business.
Canada Recovery Caregiving Benefit (CRCB): $500/ week, up to 26 weeks
Canada Emergency Commercial Rent Assistance (CECRA): opens at 8:00 a.m. EST on May 25, 2020. Canada Emergency Commercial Rent Assistance (CECRA) for small businesses provides relief for small businesses experiencing financial hardship due to COVID-19.
Canada Emergency Student Benefit (CESB): eligible postsecondary students receive $1,250 a month from May to August, and if you are taking care of someone else or have a disability, that amount increases to $2,000 monthly.
A record of employment must be issued within five calendar days of the first day of the interruption in earnings
Applications for claim period 5 (July 5 to August 1) will open August 17, 2020.
Canada Emergency Wage Subsidy that would cover 75 per cent of salaries for qualifying businesses, for up to 3 months, retroactive to March 15, 2020.
Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.
Support for your business.
Find COVID-19 support and other programs and services.
Find the support you need for your business by answering a few questions to get a personalized list of support.
Until August 31st, 2020, we will recognize a Form T183 or T183CORP that has an electronic signature as meeting the signature requirements of the Income Tax Act.
If you get a text message saying you received a deposit for the Canada Emergency Response Benefit. Beware it is a scam!
Did you know… RRSP gives you tax deferral which is great but once you make a contribution to your RRSP, you no longer have the money available to reinvest to your business.
Did you know… As an employer, you are required to give your employees or recipients their T4 slips and file their information returns with the CRA on or before the last day of February.
If a family member has provided services for your business in 2019 ask us for advice on paying your family members.
Now is the Time to Record Your Vehicle’s Odometer Reading!
We are experienced in Canadian taxation, and advise individuals on their tax affairs.
We provide a complete accounting solution that helps you succeed as an individual and grow your business.
By getting behind your numbers, we get behind your business to give you the support you need to grow.
