Family-owned enterprises form the backbone of the Canadian economy, offering unique opportunities and challenges. When two families are involved in ownership, safeguarding the business against unforeseen circumstances becomes paramount. Two critical tools in this regard are Key Man Insurance and…
Losing a loved one is hard, but navigating the tax filings afterwards can feel like an impossible task. Understanding the intricacies of tax obligations after a death is crucial, especially for families with family-owned enterprises. Here’s a guide to help…
The world of international taxation is complex, and one of the most intricate areas involves the residency status of trusts. A foreign trust can sometimes be deemed a resident of Canada, subjecting it to Canadian tax laws and obligations. Understanding…
In the latest federal budget, Finance Minister Chrystia Freeland has stirred significant controversy with proposed changes to the capital gains tax rates. However, these changes are notably absent from the motion she tabled to introduce the federal budget in the…
In the intricate world of tax planning and corporate organization, I've observed firsthand the profound influence strategic corporate organizations can wield over businesses' financial health and tax efficiency, particularly within family-owned enterprises in Canada. Today, I invite you to explore…
Shajani CPA is not just a CPA firm; it's a catalyst for your business's growth and success. With a profound purpose to ignite the potential within enterprises, Shajani CPA infuses a spark of professional excellence into your business journey. For…
Selling a sole proprietorship encompasses not just a business transaction, but a series of strategic tax planning decisions that can significantly impact your financial future. This detailed guide offers insights into how to navigate the complexities of selling your business,…
Introduction: Preparing for the 2024 Tax Changes in Canada The 2024 federal budget has introduced a pivotal shift for taxpayers across Canada with the proposal to increase the capital gains inclusion rate from 50% to 66.67%. This significant adjustment prompts…
Goodwill represents a crucial intangible asset that often arises during the acquisition of one corporation by another. This asset reflects the premium paid over the fair market value of the net assets (tangible and intangible) acquired. It captures elements that…
