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.

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.

Taxation and accounting are two of the most complex processes that people have to work and deal with. Whether the individual is running a business, company, or their individual accounts, they have to have their finances and their books in place. Not dealing with their books properly could lead to significant issues with the authorities when it comes to taxation. If they do not pay the correct amounts, individuals can face fines and penalties, even leading to jail time.

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. 

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:    Intuit and QuickBooks  , https://quickbooks.intuit.com/

Article Written By:  Kari Brummond

Original Article Posted on:  NA

Link to Original Article:  https://quickbooks.intuit.com/ca/resources/accounting-news/voluntary-disclosures-program-rules/

Original Article Source Credits:   Money Sense , https://www.moneysense.ca/

Article Written By:   JASON HEATH

Original Article Posted on:  JANUARY 25, 2021

Link to Original Article:  https://www.moneysense.ca/columns/ask-a-planner/rrsp-contribution-myths-and-facts/

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

Article Written By:  Adam Othman 

Original Article Posted on:  January 27, 2021

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

Article Written By:  Puja Tayal 

Original Article Posted on:  December 28, 2020 

Link to Original Article:  https://www.fool.ca/2020/12/28/canada-revenue-agency-big-changes-coming-in-your-paycheck-in-2021/

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

Article Written By:  Daniel Da Costa 

Original Article Posted on:  December 28, 2020

Link to Original Article:  https://www.fool.ca/2020/12/28/are-you-saving-for-retirement-consider-this-crucial-decision/

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:    The Motley Fool  , https://www.fool.ca/

Article Written By:  Puja Tayal

Original Article Posted on:  October 7, 2020

Link to Original Article:  https://www.fool.ca/2020/10/07/canada-revenue-agency-october-gst-refunds-are-here/