Year-Round Financial Housekeeping for Business Success
Financial Housekeeping is primarily the task of paying attention and maintaining your business finances throughout the year. One of the first ways to set your business up for success is to organize frequent meetings with your CPA. Small business owners can often struggle with the details of their bookkeeping and accounting procedures. Bookkeeping is an […]
Everything You Need to Know About a CPA in Ontario
Chartered Professional Accountant (CPA) A Chartered Professional Accountant (CPA) in Ontario is a designation granted to accounting professionals who have met rigorous education, experience, and examination requirements. CPAs in Ontario are recognized for their expertise in financial reporting, taxation, audit, and business strategy, among other areas. Being a CPA shows you are skilled and professional […]
Understanding and Navigating Capital Gains Tax Changes in Canada
Capital Gains Tax Changes in Canada Navigating the complexities of capital tax changes in Canada can be daunting for individuals and businesses alike. Understanding the intricacies of capital gains, how the tax is calculated, what qualifies as a capital gain or loss, and how a certified accountant can aid in this process is essential for […]
Corporate Tax Deadline 2024 in Ontario: A CPA Firm’s Perspective
Corporate Tax Deadline 2024 in Ontario As the looming corporate tax deadline of 2024 approaches in Ontario, businesses across the province feel pressured to ensure compliance with tax regulations while maximizing deductions and minimizing liabilities. AMI CPA Professional Corporation understands the significance of this crucial deadline and the importance of providing comprehensive support to our […]
Answers to Questions on Corporate Taxes
Corporate Tax Questions The following questions are designed to foster a comprehensive understanding and proactive management of corporate taxes, helping business owners in Canada navigate their fiscal responsibilities with greater confidence. What are the Key Deadlines for Corporate Tax Filings in Canada? The key deadline for corporate tax filings in Canada is six months after […]
Navigating Financial Waters: Budgeting and Cash Flow Planning Strategies for Ontario Organizations
In today’s ever-changing economic landscape, organizations across Ontario face unique challenges in managing their finances effectively. As accountants specializing in helping businesses thrive, we’ve seen firsthand the impact that strategic budgeting and cash flow planning can have on an organization’s success. This post will explore practical strategies to enhance your financial management practices, ensuring your […]
A Guide to Strategic Tax Planning for Businesses
In the complex financial management landscape, strategic tax planning is crucial in achieving long-term business success. AMI CPA Professional Corporation understands the complexity of tax regulations and their potential impact on your bottom line. This blog will explore the critical tax strategies that propel your business toward financial prosperity. Understanding Your Business Structure: Effective tax […]
Tips to Prepare for Corporate Year End Tax
When it comes to preparing for the Corporate tax year-end, whether for a small start-up business or a large corporation, each business has its tax filing requirements and tax-saving opportunities. If you own a resident corporation, you must prepare a corporate income tax return (T2). Your first corporate return will require a year-end for your […]
Differences and Benefits of a Salary or Dividends
The decision to take a salary or dividends in a business can have significant financial and tax implications, and it often depends on various factors, including the business’s legal structure, the individual financial situation of the owner(s), and the business’s profitability. Here’s an overview of the key differences and benefits of taking a salary or […]
Why Would you Hire a Bookkeeper for your Business?
Benefits of Outsourcing Bookkeeping Running a successful business involves juggling multiple responsibilities, from managing operations to ensuring profitability. One crucial aspect that often gets overlooked is bookkeeping. It is essential for all sizes and types of businesses, whether in their first year of business or established for many years, incorporated or not. A.M.I. CPA Professional […]