Maroof HS CPA Professional Corporation, Toronto
For the tax years starting January 2018, TOSI Rules are applicable. Expanded TOSI rules apply to adult individuals receiving amounts from the “related business”. Prior to 2018, income sprinkling was used as a tax planning
Contributing to a Registered Retirement Savings Plan (RRSP) is a great way to grow your savings in a tax-deferred environment. Whatever income earned inside the RRSP is not taxed. You don’t have to worry if
What is a Management Fee? Often, businesses in Canada use multiple entities to run their operations or there are allocations of Management fees because of the centralization of management within a corporate group. The management
Running a business can be quite expensive, especially when you hire full-time or part-time employees for tasks that can be conveniently outsourced. One of those tasks is accounting, which can eat up a lot of
If you are an owner-manager of a Canadian Controlled Private Corporation (CCPC) you can use certain tax planning strategies to optimize both personal taxes and corporation taxes in Canada. You should always exercise caution while
Are you looking forward to new business and sketching up your business plan? Or, are you rethinking your business model? Business plan writing can be tough, especially if you have a time crunch. Not to
Are you good at the business nitty-gritty? Canada is looking for entrepreneurs who can contribute to the economy. If you want to successfully immigrate to Canada as a businessperson, you need to draw up a
It’s your tax return, so doesn’t it make sense to check it’s accuracy? If you are like many business owners, you might directly sign your return and send it to the CRA without even reviewing
Starting June 2019, under the legislative changes to Canada Business Corporations Act all the corporations federally incorporated in Canada must maintain a Register of Individuals with Significant Control. While some consider this is an additional
What is a US LLC? A Limited Liability Company (LLC) is a type of business entity that is created by a state statute in the US. This type of structure does not exist in Canada.