Resources

When it comes to corporate funds, any distributions, loans, or withdrawals by shareholders must be carefully documented and handled according to CRA guidelines. Failure to

Filing an accurate T2 Corporate Tax Return is critical to avoiding penalties, audits, and reassessments. Pitfalls and Common Mistakes on Corporate Tax Returns 1. Incorrect

Financial planning is a crucial aspect of long-term business success. It involves setting financial goals, creating a budget, and outlining the steps needed to achieve

Managing accounting processes can be a time-consuming and tedious task for businesses of all sizes. However, by streamlining your accounting processes, you can save valuable

When it comes to managing the finances of a business, understanding the difference between cash and accrual accounting is crucial. Both methods have their own

Understanding financial statements is essential for anyone involved in business, even if you’re not an accountant. These statements provide valuable insights into a company’s financial

Modern accounting practices have evolved significantly with the integration of technology into the industry. The role of technology in accounting has not only streamlined processes

Bookkeeping is an essential part of managing a business’s finances, but it’s easy to make mistakes that can lead to financial discrepancies and compliance issues.

Cloud accounting has become increasingly popular in recent years, revolutionizing the way small businesses manage their finances. With its numerous benefits, it’s no wonder why

As the world of finance continues to evolve, cryptocurrencies like Bitcoin, Ethereum, and others have become a significant part of investment portfolios. However, with this

As an employer in Newfoundland and Labrador, it’s essential to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment standards

As an employer in Manitoba, it’s essential to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment standards to keep

As an employer in British Columbia (BC), it’s essential to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment standards

As an employer in the Northwest Territories (NWT), it’s essential to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment

As an employer in New Brunswick, it’s essential to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment standards to

As an employer in Nova Scotia, it’s essential to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment standards to

As an employer in Ontario, it’s essential to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment standards to keep

As an employer in Alberta, it’s crucial to stay informed about key labor regulations to ensure compliance and foster a fair workplace. Here are the main employment standards to keep

Understanding the Alberta Business Landscape Alberta is a thriving province in Canada with a robust economy and a favorable business climate. Its diverse industries, from oil and gas to technology

Self-employed individuals—including sole proprietors, freelancers, and independent contractors—are required to file personal tax returns with business income by June 15. However, any taxes owed must be paid by April 30…

Understanding Sole Proprietorship Vs Incorporation When you first start a business in Canada, the simplest form of business structure is a sole proprietorship. However, as your business grows and evolves,

When it comes time to sell your small business, understanding its value is essential to securing the best possible price. By employing a few proven

If you’re considering selling your small business, it’s essential to make it as attractive as possible to potential buyers. By focusing on specific strategies that…

When it comes to buying or selling a business, partnering with a seasoned accounting firm like 786 Venture CPA can make all the difference. This

Due diligence is the comprehensive process of assessing all aspects of a business to verify its financials, operations, legal status, and market position. It’s an

When selling a business, determining the right transaction structure—asset sale, share sale, or a hybrid sale—is critical to optimizing financial, tax, and operational outcomes for

Evaluating financials is a critical step when selling or buying a business. A thorough review ensures transparency, validates the business’s value, and identifies potential risks.

Selling a business is a complex transaction involving a series of essential legal documents that outline the terms, protect both parties, and ensure compliance with

Getting Started with CRA Registration Registering for a Canada Revenue Agency (CRA) account is a straightforward process that can be completed online. Having a CRA

As the world of finance continues to evolve, the popularity of cryptocurrencies such as Bitcoin, Ethereum, and others has skyrocketed. With this surge in popularity,

Yes, alternative financing options, such as invoice factoring, can improve cash flow. Invoice factoring involves selling outstanding invoices to a factoring company for immediate cash,

Healthy cash flow means your business consistently has enough cash to meet expenses without relying on short-term loans or credit. Here’s how to evaluate and…

Seasonal fluctuations in sales can create cash flow challenges. Here’s how to prepare: How to Use a Slow Season Create a Cash Flow Forecast for…

When you have a cash surplus, using it wisely can set your business up for long-term success. Here are some smart ways to leverage extra…

While short-term loans and credit lines can be useful, relying on them heavily can become costly and create cash flow strain. Here’s how to reduce

Effective inventory management is crucial to maintaining cash flow, as unsold inventory ties up capital that could be used elsewhere. Here’s how you can optimize

A cash flow forecast is a powerful tool that helps you anticipate and plan for future cash needs, providing a clearer picture of your business’s

Getting paid faster is one of the most effective ways to improve cash flow. Delayed payments can hold up cash that you need to cover

Understanding your break-even point is key to knowing when your business will start generating profit. Here’s how to calculate it: How Long Does It Take

A cash flow forecast helps you plan for future cash needs, giving you insight into potential cash surpluses or shortages. Here’s how to create a