Planning Large Capital Investments – 5 Tax Implications You Need To Consider

All companies must invest in equipment to be successful, and it is important to understand the tax implications of those large capital purchases.

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3 Mistakes to Avoid When Buying a Cottage

Everyone can relate to the lure of a cottage –lounging in a Muskoka chair while relaxing by the lake. However, buying a cottage is a major financial commitment that requires proper consideration. When it comes to buying a cottage, the purchase price is only the initial financial aspect. Another serious financial commitment comes from the […]

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Do You Understand Depreciation and How It Impacts Your Business?

All business owners are faced with depreciation and the declining value of their assets. It’s a reality of owning an enterprise, particularly in capital-heavy sectors that rely on machinery, buildings and equipment. Depreciation affects the way you conduct your accounting and how you assess your overall performance. Depreciation – The Diminishing Value of Your Property […]

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Transitioning Your Family-Owned Business – How to Preserve Your Legacy

Family-owned businesses face unique challenges during every phase of the business life cycle. They grow with their founders’ energy, sacrifice and commitment. As the company grows, there will come a time when the founder must step down and let someone else take the reins. That’s where family-owned businesses get tricky. In many cases, the owner […]

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Tax Incentives: The Big Ones, The Small Ones and the Too-Often-Forgotten Ones

Federal, provincial and municipal governments use tax incentives to encourage businesses and individuals to make economically positive decisions. Tax rules have been designed to incent businesses to make investments, create jobs, drive innovation and help people develop skills. Getting to know the ins and outs of tax incentives can be tricky. Businesses of all sizes […]

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Best Practices for Retaining Business Records

Throughout the year, businesses undertake great strides for retaining business records in anticipation of annual tax filing and the possibility of a CRA audit. But once the yearly filing is done, what do you do with those records? Leave them taking up space on your shelf? Perhaps it feels like that’s what you’re doing, but […]

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