Cross Border Tax Consultants

    There are many ways small business owners can optimize their corporate income taxes for 2020. Check out here Source: https://www.maroofhs.com/post/2020-end-of-year-tax-planning-for-small-corporations-in-canada/

Property flipping is a business and taxed as a business income in Canada. Canada Revenue Agency is cracking down to ensure compliance.  Many factors decide whether you earned a capital gain from the sale of your house or it is a business. 1. What is the nature of the property? 2. How long you held the property? 3. How many real estate transactions you made? 4. How much effort did you put into renovating the property? 5. What were your original intentions when you purchased the property? 6. Under what circumstances you sold the property? A great post by a professional income tax accountant in Canada discusses the different income tax and excise tax issues related to flipping houses in Canada . In this comprehensive and easy to understand the post, Maroof Hussain Sabri, a CPA in Ontario discusses how case law provides the decisive factors to determine if the real estate transactions result in a business income or capital gain. Capital gains are included 50% only in the...

Investor pitch deck is a critical document used to pitch investors. Remember, you get only one chance to present your idea to investors so make sure you have prepared a killer pitch deck.   A typical pitch deck contains below slides: 1. Brief overview of the company: Start with presenting a brief overview of your company. 2. Mission and Vision of your Company: Carefully drafted mission and vision gives a quick insight into your company’s short term and long term goals and objectives. 3. The Problem: You must state a problem. Without presenting a problem you cannot pitch your idea. 4. The Solution: You must propose a solution to the aforementioned problem 5. Market Validation: Present that there is enough market where your proposed solution can work. Explain about the market opportunity. 6. Competition and differentiation: Present your existing and potential competitors and explain how your proposed solution offers a differentiation. Identify the key competitive advanta...

Canada needs immigrants! Immigration plays a critical role in the Canadian economy. That is why there are multiple immigration programs by different provinces and territories in Canada. Each of these programs have their own requirements based on their local needs. Almost always, business immigration to Canada needs a business concept and business plan. Some of the programs require you to submit business concept in the first stage and a business plan in the second stage. The province evaluates the business concept and business plan and assign a score based on the pre-established criteria. Such a criteria is already published by them. Therefore, it is critical that you read all those guidelines so that you can get the maximum score. A valuable post written by Maroof HS CPA Professional Corporation on how to write a killer business plan for immigration can be found here . They also provide a comprehensive business plan writing service for immigration to Canada. As explained by the pro...