Are you wondering, “Can I file my own corporate taxes in Canada?“ You’re not alone. Many business owners think about handling their own tax filing to save money. But is it really worth it? Filing corporate taxes isn’t like filing a simple personal tax return. It involves complex tax laws, deadlines, and CRA compliance rules.… Continue reading Can You File Corporate Taxes Yourself in Canada? 2025 Guide
Blog Category: Financial Planning
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
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
How To Do An Estate Freeze in Canada? 2024 Guide
Are you concerned about the tax burden your family might face on your business or assets after you’re gone? Many business owners and high-net-worth individuals worry about the hefty tax bills that can erode the wealth they’ve worked hard to build. Estate freezes offer a solution, by locking in your asset’s current value, you can… Continue reading How To Do An Estate Freeze in Canada? 2024 Guide
Why Is Estate Planning Important For Business Owners
Are you confident your business will continue to thrive if something happens to you? For business owners, estate planning isn’t just about passing on personal assets, it’s about protecting the future of your company. Without a plan in place, your business could face serious risks, including tax burdens, legal disputes, or even closure. The absence… Continue reading Why Is Estate Planning Important For Business Owners