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

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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 …

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.

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.

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:

Protect Your Business from Hidden Risks

Owners and managers of growing businesses are often so focused on customers, driving sales and expanding business, they fail to address internal issues that can also have an enormous impact on their business. You may have taken out adequate …

There are many myths about business tax

Many people believe that if you run a business it will be a great tax break due to the expenses you can write-off. This is not exactly the case. Also, consider the time and effort it takes to collect and remit taxes—a task that non-business owners …

What is the Value of an Audit?

Many people ask about the genuine value of an audit. Traditionally, an audit not only costs more than a review engagement, but it also consumes more of your staff’s time.

Unlocking Opportunities: Grants and Government Funding for Non-profits, Charities and Social Enterprises in Ontario

Non-profits, charities, and social enterprises play a vital role in communities providing much needed support and services. Funding is a critical aspect of fulfilling their missions, and while many rely on donations, grants provided a much-needed …

Reporting Requirements of Charities & Non-Profit Organizations

The current reporting requirements for Charities & Non-Profit Organizations have left a lot of our clients wondering what exactly they are required to file. This article is intended to act as a general guideline for the reporting requirements of …

Drive the Value of Your Business

Given the current economic climate, where we are seeing increased M&A activity within our client base, it is important for business owners to start to think about and focus on activities that they can undertake to enhance the value of their …

Charitable Donations - Ensuring Legitimacy

Charitable donations make all sorts of sense: they support worthy causes, donors can be eligible for tax write-offs and let’s face it, helping others makes us feel good. You may budget for a certain amount each year to be distributed to your …

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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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