Corporate tax and owner cash flowKey takeawaysThe strongest tax deferral often comes from profits you can leave in the company.Compare personal withdrawals and annual costs before choosing the structure.Use a forecast of retained profit, cash needs and ownership plans.A growing business brings new decisions. You may be hiring your first employee, signing larger contracts or finding that the business earns…
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Business tax and equipment financingKey takeawaysAccelerated CCA can bring tax relief forward and improve near-term cash flow.A larger claim today leaves fewer deductions for later years.Estimate sale tax and the loan payout before agreeing to a trade-in or sale.Your business has had a profitable year, and a supplier offers a deal on new equipment. Buying before year-end might reduce your…
Read MoreJob Opportunity: Experienced CPA Location: Edmonton, AB Company: Winston and Company – A Family-Run Accounting Practice Who We Are: At Winston and Company, we’re more than accountants—we’re trusted advisors helping Edmonton’s small and medium-sized businesses thrive. As a family-run firm, we foster close client relationships and a supportive, people-first environment for our team. We stay at the forefront of accounting…
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Blog Post: CRA's New Directive and Heightened Scrutiny of Tax Returns in 2024 The Canada Revenue Agency (CRA) has recently intensified its scrutiny of both personal and corporate tax returns, employing sophisticated algorithms to identify any abnormalities, year-over-year changes, or deviations from industry norms. This heightened activity aims to detect tax evasion, fraud, and avoidance, reflecting the government’s broader response…
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Fact Sheet Government help for small business owners CANADA EMERGENCY WAGE SUBSIDY (My business portal expected to be open to apply Monday, April 27, 2020) Covers 75% of employees’ pre—crisis wages, up to $847 per employee per week For up to 12 weeks, backdated to March 15 Employers must apply each month To be eligible, employers must attest to…
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