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Wednesday October 26, 2022
QUESTION: Our company is considering a possible acquisition in Toronto. The business in question has revenues just under $4 millon dollars (CAN) and fewer than 50 employees. If we go through with the purchase, would the fact that we are a larger company [...]
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Wednesday September 28, 2022
Fall can be a busy season for cottage buying and selling. Many cottagers put their properties on the market after enjoying one last summer, and many purchasers delay their search until the fall in hopes of getting a better deal. Whether you are [...]
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Sunday July 24, 2022
If you use multiple entities (corporations, trusts, partnerships) for business purposes and bill central management fees between them, there are some important things you should know. The CRA is aware that some corporations use intercorporate management fees to reduce (or eliminate) taxes by [...]
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Wednesday June 15, 2022
QUESTION: I am a business owner and I’m considering making a Cost Plus benefit claim for my teenage son’s orthodontist expenses of $242.00/month (approx. $7000 in total). Does this make sense from a tax perspective? ANSWER: A Cost Plus benefit claim is a [...]
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