Accounting Blog for Businesses in Burlington, Oakville & Hamilton | SB Partners

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Sleepless for Our Community

It’s uncomfortable, difficult, and cold. On February 21st, 2025 SB Partners team members, Trevor Hood, Eric LaCourt, and Deandra Pekrul participated in the United Way Halton & Hamilton’s Sleepless For Our Community event by spending the night in …

Tariffs and Business Valuation - What's the Impact?

If there was one word that I would use to describe the start of 2025 it would be uncertainty. Not only are we in the midst of a provincial election in Ontario, but a Federal election is likely around the corner and there has obviously been a major …

2024 Capital Gain Changes - Where are We Now?

In May 2024, we wrote an article detailing the changes that came out of the 2024 Federal Budget with respect to the taxation of capital gains and the corresponding impact on family law. While it was widely expected that those changes would be …

Understanding Our Business Succession Planning Process

Succession Planning: What can I expect? Our Business Succession Planning Process Succession planning is a complex and multidisciplinary process. We work closely with you to develop a clear strategy and action plan that recognizes your unique …

Succession Planning for Privately vs Family Owned Businesses

Succession Planning For Privately Owned Businesses Planning for the future starts with the present. Without a family heir(s) to inherit the business, business owners must consider who will be a good fit to acquire the business, or even if the …

What’s New This Tax Season?

Personal Tax Updates Every year there are new rules and regulations around what credits and deductions you can claim on your income tax filing, and what you need to do to claim it. Brent Sousa, Senior Manager of Assurance & Advisory at SB Partners …

CRA Moves Businesses to Online Mail

Starting in spring 2025, the Canada Revenue Agency (CRA) will switch to delivering most business correspondence through its online portal, My Business Account, instead of by paper mail. This change will apply to all businesses that are registered …

What is the New Quickbooks Online-FINTRAC Requirement?

As a result of the new FINTRAC regulatory requirements, Intuit is updating certain elements within QuickBooks to ensure products are compliant. To meet FINTRAC guidelines and maintain regulatory compliance, QuickBooks now requires this information …

Capital Gains Increase Deferred

On Friday, January 31st, 2025, the Canadian government announced that taxpayers will not need to include the proposed increase in the capital gains inclusion rate in their 2024 tax filings.

How Should I Approach an Acquisition?

Find a Target It’s likely you have been thinking of expanding your business portfolio for a period of time before you are ready to act. When you are ready to find a business to acquire, you need to explore your options. The easiest place to start is …

The Benefits of Mergers and Acquisitions

Whether you are the one acquiring a company, or transitioning a company to someone else, there are a number of potential benefits available to combining organizations.

Think Strategically To Define Your Vision

Most business owners have a vision for their enterprise but often lack the strategies that will enable them to realize that vision. What they need to do is to commence the process of strategic thinking.

Tax Planning for Canadian Snowbirds: Understanding the Tax Implications of Spending Time in the U.S. and Abroad

Flying as a Non-Resident Alien Through Tax Planning The snow is flying, and the snowbirds are heading to the sun. The migration is filled with anticipation of warmer days ahead but a lack of planning before departure can leave a sunny destination …

Tax Implications on U.S. Property Purchases

A client (Canadian resident) recently asked whether he was required to complete tax form T1135 for a condo purchased in Florida for CAD$125,000 equivalent. The simple answer – it depends!

Self-Employed or Employee?

To determine if a worker is an employee or a self-employed individual, one has to examine and analyze the terms and conditions of the worker’s employment as they relate to the following four factors:

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Do you have a question for SB Partners? Need help to understand your business financials or value? We’re here to help with all of your accounting needs, please get in touch today.

Email us at help@sbpartners.ca or give us a call at 905-632-5978 or toll-free at 1-866-823-9990.

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