Articles by: Sohail Afzal

Category: Sohail Afzal

Tax Planning Strategies

Planning is essential to successfully minimize the income tax liability within the legal framework.  Not only do our clients save penalty charges from the failure of tax compliance but also from recommendations of tax saving strategies that maximize their after-tax income. Our team is constantly staying up to date on current tax laws and new…
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Why is it better to incorporate business???

Your business is doing well! Why not incorporate it? The question is asked so often. Are there any benefits of doing so? The question creates its mark in many small business owners who started their businesses as sole proprietors in which they and their businesses are essentially one and same. Switching to a corporation can…
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6 reasons why Bookkeeping is important for your Small Business

Why Records Should be Kept The CRA requires each person who must file a tax return to keep accounting and other financial information documents organized. Just putting everything in a drawer or file without proper identification makes it useless too. Therefore, organizing these documents is key to meeting the CRA’s requirements. These documents will help you…
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New Tax Rules For Small Businesses In 2018

Do you own a small business in Canada? Is your business incorporated? If you want to fulfill your tax obligation and always ensure you’re compliant, take time to understand the new tax rules and how they will affect your business in 2018. In the paragraphs below, we will cover some tax changes that the government…
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Changes To Small Business Tax In 2018

Many small businesses are skeptical about the small business tax changes that are about to be implemented by the federal government. Though the government claims that the tax changes are geared towards making the system fair for all players and not just to increase the amount of revenue they earn, small businesses are likely to…
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Ways To Maximize Your Corporate Tax Returns

When running a business, you need to come up with structures and systems that will help you lower your tax bill. For instance, you need to have receipts for all your business expenses so collect them and put them in a secure place as soon as they are received. Train yourself to always ask for…
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How To Prepare Your Company For Tax Return

The CRA offers a list of approved tax preparation programs that you can use to help in filing returns for your business. All in all, filing taxes can be a complicated process that must be accurately done by a CPA. Throughout the year, you can take steps to prepare your company for tax returns. Let’s…
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Mistakes Small Businesses Make While Filing Taxes

As a small business owner, part of the joys of running your own venture comes with the burden of fulfilling your tax obligations. Making sure your taxes are accurately filed is an important step for every business owner. The CRA requires you to submit an annual tax return. It’s always advisable to handle this as…
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Tax Credits & Benefits for Seniors in Canada

As you grow older, you get to enjoy a wide range of tax benefits. Partnering with a CPA can help you identify all the opportunities to enjoy tax benefits that are often not available to the younger taxpayers. The reason why the Canadian government provides seniors with tax credits is to ensure that they are…
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Reasons To Hire CPA For Tax Filing

If there’s one thing that most people dread, it has to be filing their taxes. When it’s that time of the year again, consider hiring a CPA to help you especially if you’re not sure what to do. A reputable accounting firm can really simplify the process of tax filing for you. Here are 5…
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