Year-End is Coming: Why Canadian Businesses Need Bookkeeping Strategies (and a Professional to Guide Them)
The year is winding down, and if you run a business in Canada, you probably feel that extra pressure of closing not just the calendar but also your financial books, making sure every dollar is tracked, every invoice is reconciled, and every CRA (Canada Revenue Agency) requirement is met. This process, year-end bookkeeping, is instrumental […]
Common Mistakes to Avoid on Your Tax Return
Filing your taxes can feel overwhelming, especially with the changing rules in Ontario. Whether filing as an individual, a business owner, or a freelancer, even minor errors can lead to delays, audits, or missed refunds. To help you file accurately and maximize your return, here are the most common tax mistakes and how to avoid […]
Navigating Corporate Tax Rates in Ontario: What Your Business Should Know
Understanding corporate tax rates is essential for any business operating in Ontario. With both federal and provincial tax rates to consider, navigating the tax landscape can feel overwhelming. However, having a clear grasp of these rates and how they apply to your business can help you plan effectively, minimize liabilities, and maximize profits. In this […]
Corporate Tax Filing – Tips to Help You Be Prepared
Preparing for the corporate tax year-end is essential, and being organized can save you time and money. Whether you have a small start-up or manage a large corporation, each business has unique tax filing requirements and potential tax-saving opportunities. Preparation could include deducting business expenses, claiming tax credits, and optimizing employee benefits. Understanding Corporate Year-End […]
Corporate Year End Tax Preparation Document Checklist
Fall is not just about pumpkin spice lattes and colourful leaves – it’s also the perfect season to plan for your corporate taxes. Starting early allows you to take a proactive approach, identifying cost-saving strategies to reduce your corporate tax burden before the year ends. At A.M.I. CPA Professional Corporation, we specialize in Accounting, Tax […]
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 […]
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 […]
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 […]