Buying a Car: Personal vs. Corporate Ownership and Leasing vs. Financing
When it comes to purchasing a car, two of the most common questions we hear are: Let’s delve into these questions to help you make a more informed decision. Lease … Read more
CPA4IT Professional Corporation
CRA Has Been Sending PSB Notices To Independent Contractors
Recently, the Canada Revenue Agency (CRA) has been sending out letters to independent contractors, suggesting that their operations might meet the criteria of Personal Services Businesses (PSBs). This implies that … Read more
QBO Price Increase Update
In recent years, QuickBooks Online (QBO) has consistently increased its subscription prices, a trend that has stirred discussions among its user base. Here is a price comparison between 2020 & … Read more
Changes to Canada Pension Plan Contributions for 2024
It’s crucial for small business owners to be acutely aware of the modifications to the Canada Pension Plan (CPP) contributions in 2024. Understanding these changes is essential, not just for … Read more
EMPLOYEE VS INDEPENDENT CONTRACTOR
Understanding Employee vs. Independent Contractor Status Overview of CRA Guidelines We begin by discussing the distinction between an employee and an independent contractor. The Canada Revenue Agency (CRA) provides a … Read more
Top 10 Corporate Tax Strategies for Small Businesses
Welcome to the treasure trove of tax strategies! With over 30 years of experience, we have been helping small business owners organize finances, create wealth, and transform wealth into a legacy. … Read more
The Challenges and Controversy of Canada’s CERB and CRB
The COVID-19 pandemic created unprecedented challenges for Canadians, leading to the rapid rollout of government support programs like the Canada Emergency Response Benefit (CERB) and the Canada Recovery Benefit (CRB). … Read more
Avoid Common Mistakes When Filing Your Corporate Tax Return
Importance of Accurate Corporate Tax Filing Filing your corporate tax return accurately is crucial for a number of reasons. The most important of which is avoiding CRA Audits. Recently, CRA … Read more
Why do business owners need a Corporate Credit Card?
Running a business comes with many perks and rewards, and many expenses! From travel and meals with clients or your team, to basic supplies and subscriptions for software that you … Read more
Ontario Corporations: Key Changes to Annual Returns & Registry
Any business incorporated, amalgamated, or continued in Ontario, including foreign entities that carry on business in the province, are required to file an annual return with the government of Ontario … Read more
