On February 25, 2016 Finance Minister Charles Sousa tabled his fourth Budget. The deficit for the 2015-16 fiscal year is projected to be $5.7 billion, which is $2.8 billion less than forecasted in the 2015 Budget. The deficit is projected to drop to $4.3 billion for 2016-17 and to be eliminated by 2017-18. Furthermore, […]
Forget the trials and tribulations of starting and growing a business. Many entrepreneurs learn that the true challenge comes when they move to negotiate the sale of their company. There are a plethora of reasons, but the most daunting involve considerations such as valuation (what the business is worth), the competitive marketplace (the number of […]
Most entrepreneurs are not accountants. That statement is as obvious as it is revealing. Despite not having the letters ‘CA’ or ‘CPA’ on their business cards, however, entrepreneurs are still expected to understand the finer details of financial management and balance sheet analysis. It’s an unfair expectation for any business owner who, most of the […]
A successful, lucrative exit—it’s the dream of so many entrepreneurs who envision building their business and one day selling to the highest bidder. While others may recoil at the thought of selling their ‘baby,’ the vast majority of the entrepreneurs that I’ve worked with in my career would leap at the chance to exit their […]
As the summer winds down, we’ve been treated to the usual mix of sun, warm weather and, hopefully for most of us, a week or two of vacation. We’ve also witnessed a rather unusual event—a competitive Toronto Blue Jays team that, at least according to the current divisional standings, is on pace to make the […]
Typically, a Registered Retirement Income Fund (RRIF) is created on the conversion of a Registered Retirement Savings Plan (RRSP) before the end of the year in which an individual turns 71. A RRIF is beneficial as it allows an individual to accumulate tax-deferred growth. However, unlike an RRSP, there is a requirement to withdraw a […]
Canadian entrepreneurs make millions of dollars in donations to a wide range of charitable organizations each year. What many don’t realize is that giving back can have some very positive tax implications. But before we get into the details, let’s examine a few interesting facts. Did you know that according to the Canada Revenue Agency […]
While the 2015 federal budget may not have contained many surprises, it did contain more than its fair share of entrepreneur-friendly measures. From a reduction in the small business tax, to investments in innovation and help for targeted entrepreneurial groups, this was a pre-election budget intended to appeal to a wide range of stakeholders. Here […]
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