FShad Main Logo

Why Outsource Your Small Business Accounting in Toronto

Article Key Takeaways: Why outsourced accounting is important for your small business What an outsourced accountant can do for your business   Outsourcing refers to dedicating a certain aspect of a business to the hands of a specific department that is not otherwise present in your business. For instance, assigning a task or project within […]

5 Cash Flow Mistakes Made By Small Businesses

Article Key Takeaways: Potential causes for cash flow mistakes Solutions business owners can seek for their cash flow mistakes How to avoid cash flow mistakes   Owners of small businesses may often find themselves suffering shortfalls or an inability to pay bills when sales are low. This is the reality of many companies, and CEOs […]

How To Use the GST/HST to Save on Taxes? Quick Method

Article’s Key Takeaways: Electing to use the Quick Method may create opportunities for tax savings and improved cash flow for SME’s. To qualify to use the Quick Method, a business must meet all listed requirements Certain professions (i.e., lawyers, accountants, charities, financial consultants) are restricted from using the Quick Method The implications of using Quick […]

Buying or Leasing an Automobile in a Canadian Corporation

Article Key Takeaways Corporation automobiles are often used for different purposes, varying on the income and taxable benefits between personal use or business use Taxable benefits are found on T4 slips and deducted from payroll Charges and costs depend on the employer’s method of financing the automobile The mileage use influences on the benefits applied […]

How To Properly File Self-Employed Taxes In Ontario?

Self-Employed Taxes In Ontario When you are deemed self-employed as either part of a partnership or as a sole proprietor, you need to record the company’s income/expenses relative to how much you own of the company as a part of your tax return for your income. The total net income of your company’s partnership or […]

Terms You Need to Understand For Small Business Accounting

We all know that starting a small business is not a simple task. It requires a lot of hard work, dedication, and of course, money. And once you have finally started your business, you need to keep track of its financial performance to ensure that it is running smoothly. For this purpose, small business accounting […]

Should You Buy a Rental Property as an Individual or a Corporation?

For people who are looking to achieve financial freedom and secure their future, it’s highly important to start creating a stream of passive income—and one way to do that is to buy a rental property. If done right, you’ll be able to generate income monthly without having the need to work too much, thus increasing […]

Build and Establish a Better Business Credit Score

To be successful in business, it’s important to have a good credit score. A strong credit score can help you get loans and funding when needed and establish trust with potential partners and customers. If you are having financial troubles in your company right now and still can’t get a grasp of your business credit […]

How to Open a Corporation in Ontario

Are you planning to open a corporation in Ontario?  Understanding how to open a corporation in Ontario can save you time and money. There are many reasons why you might want to open a corporation. Perhaps you are starting a new business or expanding an existing business. Maybe you are looking for ways to protect […]

Capital Gains Tax Canada

What Is A Capital Gain Or Capital Loss? A capital gain or loss is the difference between the purchase price of an investment and the proceeds received when it’s sold. The goal with any investment is to buy low and sell high so that you can generate a capital gain. However, there are times when […]