We can help with your accounting needs.
How Can We Help You?
When an organization is undergoing an audit or a review, it can be difficult to understand the differences between the two; after all, both are known as assurance engagements and need to comply with accounting standards for private enterprises (ASPE). Audits and reviews are closely linked but they fulfill different needs and are associated with different
Read More
Are you looking for cash funding to grow or maintain your business? When business owners think about financing from a bank, they’re usually thinking about procuring a “short term loan.” A term loan offers a business owner a cash payment that is to be paid back in installments over a specified period of time. For the duration
Read More
Newton’s Electric Open House From May 13-14, 2016, Newton’s Electric, an electrical and automotive company in Brampton, hosted an open house event for their customers and suppliers. As Newton’s Electric is one of our clients, we wanted to support this special open house event. To show our support, we set up a vendor booth for
Read More
As the wave of baby boomers start to retire and have more free time, one’s thoughts might be spent more on travelling than ever before. Whether it’s a Mediterranean cruise, scuba diving in the Caribbean or just exploring our neighbours to the south, one desire for many Canadians is to escape our winter’s bitter cold.
Read More
Plan your meeting by setting the rules and desired outcome Start on time and finish on time Identify the meetings main purpose and plan your agenda accordingly Always start with a review of the big wins or success stories – this puts everyone in positive frame of mind Most sales meeting main purpose and plan
Read More
Your ideas, your unique products and service models will set you apart as an entrepreneur. One great idea can transform an industry, and it can set you up for an exceptionally prosperous future. However, if you do not take the proper precautions, you may sacrifice your earning potential and miss out on a career that
Read More
A phantom stock option is a bonus tax treatment plan where the amount of the bonus is determined by reference to the increase in value of the shares subject to the option. Shares are not actually issued or transferred to the option- holder when an option is exercised, but rather the right to receive an award based
Read More
U.S. (and other foreign) dividends do not qualify for the Canadian dividend tax credit. Therefore, these foreign dividends are taxed at your marginal tax rate, similar to interest income. In order to avoid double taxation, you can claim the 15% U.S. tax withheld as a foreign tax credit. If more than 15% U.S. tax was
Read More
Federal Budget Commentary – April 21, 2015 In order to offer targeted tax reductions for small businesses, seniors, and families with children; to increase spending for the military, public and national security, public transit, and for the Canada Revenue Agency (CRA) to address tax avoidance and evasion; and to eke out a $1.4 billion surplus
Read More
Preparing a business plan can often feel like an intimidating task but it is crucial for anyone who wants to operate their own business. The accounting experts at Hogg, Shain & Scheck have put together a checklist of the most important things that belong in every business plan. This comprehensive list covers all aspects of
Read More
It’s that time of year again when you have to account for how you did in the previous year to tax authorities. It’s not the most interesting time of the year for most. Preparing ahead of time will help reduce last minute stress. Here are some tips on how to best prepare: 1. Gather
Read More
To avoid financial penalties, small business owners in Canada need to be aware of how to properly file taxes. Below are some of the most common tax questions that small business owners ask our accountants. 1. Will the structure of my business affect the way I file taxes? Yes, how you file taxes will be influenced
Read More