Financial Statements
Notice to Reader Financial Statements
Since December 2021, Notice-to-Reader is replaced with compilation engagement report.
May 8, 2020 6 Comments
Individual Tax - Canada
Principal Residence Exemption and Change of Use
Principal residence exemption allows a taxpayer to eliminate capital gains on the disposition (or deemed disposition) of his/her principal residence in Canada. This post is meant for general information purposes. You can find below a
May 5, 2020 2 Comments
Entrepreneurship & Business
TAM, SAM & SOM in Business Plans and Investor Pitch
Investor Pitch & Business Plans: Have you done TAM, SAM and SOM? Need Capital but having a hard time convincing the investors? Did you do the TAM, SAM, and SOM right? Taking a new business
May 1, 2020 No Comments
Corporate Tax
Can I do back-filing of T4 and get CEBA Loan?
Canada Emergency Business Account (CEBA) is a loan program announced by the government of Canada to support small businesses in meeting their operational needs. You can find more information about this program from your bank.
April 30, 2020 10 Comments
Business Plan
Raising Funds? Why your business plan did not work out?
Lenders and investors need to see the potential in a business and the credibility of those presenting before they invest in an idea, just like you would do thorough research before buying a house or
April 26, 2020 No Comments
Individual Tax - Canada
Income Tax Returns for Actors in Canada
How can I lower my taxes if I am an actor or a person employed in the entertainment industry? This post outlines income tax returns for actors in Canada who are also residents of
April 15, 2020 1 Comment
Corporate Tax
Infographic – Income taxes for US Amazon Store
In recent times there is an uptick in E-commerce sales, especially due to COVID-19 Pandemic. With the closures of more and more retail stores, customers are ordering online. Amazon is one of the biggest online
April 10, 2020 No Comments
COVID-19
Canada Emergency Wage Subsidy and Shareholder Employees?
Effective July 05, 2020, there are new rules applicable to non-arm’s length employees and Canada Emergency Wage Subsidy, please read here. In response to COVID-19, the government of Canada has announced a series of relief
April 10, 2020 No Comments
COVID-19
Canada Emergency Business Account and Other Loan Programs in COVID-19 Crisis
COVID-19 Crisis has posed an existential threat to small and medium-sized businesses in particular. Small businesses are seeing significantly lower revenues if not completely zero. The government has announced a series of benefits for
April 5, 2020 No Comments
Business Plan
What Entrepreneurs and Small Businesses can learn from COVID-19 Economic Crisis
COVID-19 Economic Crisis is a historical event in making! In the future, this economic event of 2020 is going to be referred to alongside the great recession of 1932 and 2008. This will be always
April 4, 2020 No Comments