In the ever-evolving landscape of modern business, companies across Toronto, Pickering, Ajax, Mississauga, Brampton, Vaughan, Woodridge, and the surrounding areas require more than just financial expertise. They need a partner who not only comprehends their unique needs but also has the ability to translate these needs into actionable strategies for growth. That’s where Can-Am CPA Professional Corporation steps in. Our dedicated team of accountants possesses a wealth of experience and expertise, offering superior quality accounting services that have earned the trust of clients for many years. In this blog, we will explore the vital role of accounting services for businesses and why they are indispensable for success.

Are you a small business owner in the vibrant cities of Toronto, Pickering, Ajax, Mississauga, Brampton, Vaughan, Woodridge, or the surrounding areas? If so, you’re already aware of the unique challenges and opportunities that come with operating in these bustling communities. In the world of business, every dollar counts, and understanding your financial landscape is crucial. That’s where professional bookkeeping comes into play. In this blog, we will explore the pivotal role and importance of bookkeeping for small businesses in Canada and how it can be a game-changer for entrepreneurs like you.

In today’s dynamic business landscape, understanding and effectively managing your taxes is a critical aspect of financial success. Whether you’re an established business or just starting out, tax planning can significantly impact your bottom line. At Can-Am CPA Professional Corporation, we specialize in helping businesses across Toronto, Pickering, Ajax, Mississauga, Brampton, Vaughan, Woodridge, and the surrounding areas navigate the intricacies of tax planning. In this informative blog, we’ll explore five essential tax planning tips that every business should consider. Join us on this journey to optimize your tax strategy and maximize your financial potential.

At Can-Am CPA Professional Corporation, we are experienced accountants that come up with knowledgeable financial strategies in an open and friendly environment. We also like to take on unique tax issues, which forces us to learn and makes us more well-rounded accountants who can better serve clients. Please keep reading to learn about how we helped a client sell a racehorse.

Whether you’re an individual looking to file your tax returns for the first time or a business owner aiming to organize your payroll, an experienced accountant can help. A professional accountant has the financial acumen to analyze your receipts, improve your monthly cash flow, and keep you in good books with the Canadian Revenue Agency. 

Filing income taxes can be a complicated process, so it should not come as a surprise that taxpayers often get the tax filing process wrong in the first attempt. 

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Jamie Golombek

Original Article Posted on: June 17, 2021 

Link to Original Article:  https://financialpost.com/personal-finance/taxes/the-cra-gives-a-chilling-assessment-on-accidental-tfsa-overcontributions

Going through your tax records and gathering necessary documents to file your tax return can be frustrating as you may have to devote several hours to it. However, you don’t have to do it alone! A professional tax consultant can assist you with your tax preparation and keep you informed about the tax regulations. They will help you save time and money and ensure you avoid any calculation errors that could adversely affect your tax returns.

Original Article Source Credits:   CPA Canada , https://www.cpacanada.ca/

Article Written By:  MICHELLE SINGERMAN

Original Article Posted on:  5.17.2021 

Link to Original Article:  https://www.cpacanada.ca/en/news/canada/2021-05-17-small-biz-setup

Canada Emergency Business Account (CEBA) is one of the Government of Canada’s financial relief measures to support businesses impacted by the coronavirus pandemic. Eligible businesses can get access to this interest-free loan to help them manage their expenses. Moreover, with the latest news release, CEBA will be available to businesses that have been operating out of a non-business banking account.

If you’re new to the process of tax preparation, it can be one of the most frustrating and time-consuming tasks that you’ve had engaged in. For starters, you may have a ton of questions on your mind but find answers difficult to come by. This can cause you to delay the filing of your returns, submit incorrect details, or exceed the submission deadline. At Can-Am CPA Professional Corporation, we understand the challenges you may be facing, and we want to arm you with the most accurate information available to help you out. To do this, we’ve answered some of the most frequently asked questions about filing your taxes.

Admit it. Tax time can be hard and tough to grasp for most of us. With numerous tax responsibilities and laws to obey, filing taxes as a layperson can be daunting. Moreover, you have the Canada Revenue Agency (CRA) scrutinizing records every year! Enlisting the services of a tax accountant is a beneficial choice to minimize tax liability. They will oversee your finances and make sure you comply with the tax laws and file your taxes on time. 

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Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  2021-02-19

Link to Original Article:  https://www.canada.ca/en/public-safety-canada/campaigns/covid19.html

Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Greg Dalgetty

Original Article Posted on:  November 19, 2020

Link to Original Article:  https://www.advisor.ca/news/economic/canadian-sees-value-in-a-wealth-tax/

Original Article Source Credits:    The Motley Fool , https://www.fool.ca/

Article Written By:  Joey Frenette 

Original Article Posted on:   November 25, 2020

Link to Original Article:  https://www.fool.ca/2020/11/25/canada-revenue-agency-warning-some-canadians-may-have-to-repay-cerb-amounts/

Original Article Source Credits:   Canada.ca, https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  2020-11-23

Link to Original Article:  https://www.canada.ca/en/revenue-agency/news/2020/11/canada-revenue-agency-opens-applications-for-the-canada-emergency-rent-subsidy.html

Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Rudy Mezzetta

Original Article Posted on:  November 20, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/tfsa-limit-for-2021-released/

Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Rudy Mezzetta

Original Article Posted on:  October 9, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/feds-score-big-with-extra-funding-of-cras-business-compliance-programs/

Original Article Source Credits:   CANADA , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  September 3, 2020

Link to Original Article:  https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2020/beware-schemes-promise-large-tax-deductions-tax-free-income.html