Are you looking to optimize your family's tax planning strategies? Understanding the Tax on Split Income (TOSI) and how trusts can be used effectively is crucial for family-owned businesses in Canada. The Tax on Split Income (TOSI) rules were implemented…
Life insurance is often viewed as a simple protective measure for families, but its strategic use in corporate reorganization can transform it into a powerful financial tool. For family-owned businesses, integrating life insurance into corporate strategies not only offers substantial…
In the ever-evolving business landscape, consulting and advisory services are invaluable for companies seeking strategic guidance and expert insights. Shajani CPA, distinguished by 40 years of experience and recognition as a Top 10 Advisory Firm in Canada from Financial Services…
Paying taxes is an essential civic duty that supports the functioning of our society. For many Canadians, taxes are typically paid as a lump sum by April 30th each year. However, if your net tax owing exceeds certain thresholds, you…
Paying income tax is a fundamental aspect of civic responsibility, yet many people find the process complex and confusing. This blog aims to break down how your income tax is calculated in simple terms, making it easier to understand and…
I’m Unlock the secret to securing your family's financial future with Shajani CPA’s unparalleled expertise. Imagine a legacy so well-preserved that it thrives for generations. At Shajani CPA, we are dedicated to serving families with family-owned enterprises across Canada, providing…
Disclosing the basis of accounting in compiled financial information involves clearly explaining the set of rules or principles used to prepare financial statements. For family-owned enterprises, maintaining transparent and accurate financial records is crucial for your business’s success and sustainability…
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…