Are you feeling the pinch after the GST/HST holiday rush? You’re not alone. While the holiday season can bring a welcome sales boost for restaurant owners, the aftermath often leads to a dip in revenue. The excitement of extra spending during the holidays may quickly give way to sluggish sales once the festivities are over.… Continue reading How to Avoid Post GST Tax Break Sales Decline
Blog Category: Accounting Service
2025 Corporate Tax Deadlines for Business in Canada
Does the thought of missing a tax deadline keep you up at night? As a business owner in Canada, you already juggle a lot – managing operations, ensuring payroll is accurate, and staying compliant with regulations. However, when it comes to tax filing deadlines, even a small oversight can lead to penalties and unnecessary stress. … Continue reading 2025 Corporate Tax Deadlines for Business in Canada
What Restaurants Need to Know About The GST Holiday
As a restaurant owner are you feeling overwhelmed or confused about how to navigate the new GST and HST tax holiday? In a significant move to support businesses and consumers, the Canadian government has announced a temporary Goods and Services Tax (GST) and Harmonized Sales Tax (HST) holiday. This initiative, effective from December 14, 2024,… Continue reading What Restaurants Need to Know About The GST Holiday
5 Financial Tips for Small Business Owners to Start 2025 Strong
New year, new goals! But are your finances ready to make 2025 your best year yet? Starting the new year with a solid financial foundation can set your business up for success. Small business owners often juggle many responsibilities, and financial planning is one of the most critical areas to focus on as you enter… Continue reading 5 Financial Tips for Small Business Owners to Start 2025 Strong
Year End Tax Strategies For Restaurant Owners
Are you a restaurant owner feeling overwhelmed by the looming year-end tax season? Many Canadian restaurant owners struggle to make sense of what deductions they qualify for, how to maximize their returns, and how to avoid common pitfalls. The reality is year-end tax planning can be a game-changer for your restaurant’s finances. When done right,… Continue reading Year End Tax Strategies For Restaurant Owners
How the GST / HST Tax Break Impacts Restaurants in BC
The Canadian government has declared a GST/HST holiday from December 14, 2024, to February 15, 2025, aiming to boost consumer spending during the winter. This temporary suspension of sales tax applies to select goods and services, including dining and takeout. While this presents an opportunity for restaurants to attract more customers, it also demands quick… Continue reading How the GST / HST Tax Break Impacts Restaurants in BC
Gifting Strategies for Business Owners in Canada 2024
Have you ever wondered how much of your wealth might get caught up in taxes when transferring it to loved ones? For business owners, estate tax liability can feel like an invisible leak in your financial plans, slowly draining the legacy you’ve built. The good news is there are strategies that can help minimize these… Continue reading Gifting Strategies for Business Owners in Canada 2024
Benefits of Outsourcing Payroll for Restaurants
Are you struggling to manage restaurant payroll effectively? Managing payroll for a restaurant is not as easy as it may see – from calculating employee wages and tips to staying compliant with CRA regulations, it can quickly become a source of frustration. Add the stress of handling seasonal employees, varying work hours, and complex tax… Continue reading Benefits of Outsourcing Payroll for Restaurants
Role of Trusts in Canadian Business Succession Planning
What happens to your business when you’re no longer around to manage it? It’s a question many business owners prefer not to think about, but the truth is, without proper planning, your business could face unnecessary financial strain, legal battles, or even closure. The good news? Trusts can help safeguard your business and ensure its… Continue reading Role of Trusts in Canadian Business Succession Planning
Latest Payroll Compliance Tips For Canadian Businesses | 2024
Are you worried that a small payroll error could cost your business thousands in fines? Payroll compliance is a crucial yet complex part of running a business in Canada. As regulations change, the chances of a missed update or miscalculation can put businesses at risk of penalties. Payroll compliance isn’t just about paying employees on… Continue reading Latest Payroll Compliance Tips For Canadian Businesses | 2024