Our expertise helps our clients understand how new tax regulations affects their business
Curious to know how the Canadian tax system applies to OnlyFans (OF)? Generally, you are responsible for paying your portion of income tax if you have joined OnlyFans as a performer and have begun earning money.
Quick Answer: A share purchase transfers the corporation itself, so the buyer inherits every asset, contract and liability. An asset purchase transfers chosen assets and leaves most liabilities
Quick Answer: Surplus stripping is any arrangement that pulls retained earnings out of a corporation as a lower-taxed capital gain instead of a dividend. Section 84.1 of the
Quick Answer: Schedule 7 is the T2 form where a Canadian-controlled private corporation splits its earnings between investment income and active business income. Part 1 totals interest, rents,
Quick Answer: A corporate minute book is the official record of your business: articles, by-laws, directors’ and shareholders’ resolutions, the share register and the registers of directors and
Quick Answer: An amalgamation merges two or more Canadian corporations into one continuing company under section 87, while a wind-up dissolves a subsidiary and pushes its property up
Quick Answer: Part XIII tax is a 25% Canadian tax on passive amounts paid to non-residents, including dividends, rent, royalties, management fees and trust income. The Canadian payer
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CPAs (Chartered Professional Accountants) provide a range of financial services, including tax preparation, auditing, financial planning, and consulting to individuals, businesses, and organizations.
Put simply, most small businesses do not require monthly reports on their sales and expenses which would require monthly bookkeeping. Year-end taxes allows business owners to figure out their financials at end of the year to file their tax return and pay their tax liability
Simple, as new clients we only require three things from you 1) Articles of Incorporation 2) Previously filed tax return 3) Bank statements for fiscal year in PDF format. Simple right? Yep, that’s all we will handle the rest
CPAs typically charge fees based on various factors, including the complexity of the work, the time involved, and the specific services required. Some offer flat fees, while others charge hourly rates. Most important factor is the time we spend on each file.
Nope! receipts and invoices can be the CRA which must be maintained for up to 6 years in case they request to review your business. We only require copies of the bank statements or a schedule provided by you
We assist corporate clients with personal taxes, emphasizing tax planning for incorporated business owners. Our electronic processes streamline the management and filing of personal taxes. Personal tax services are exclusively offered to our corporate clients and their partners, ensuring a personalized touch come tax time.
Our primary focus at FShad CPA is to help corporate businesses with their accounting needs. For simple tax returns such as T4 slips we recommend using over-the-counter tax preparation software. If you have questions regarding your personal taxes or investments, we will be happy to advise you
