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

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Thank You, Burlington!

SB Partners has been selected as the Platinum Winner in the “Best Accounting Firm” category for the Burlington Post Readers Choice Awards 2024. The Readers Choice Awards is an opportunity for the public to vote for their favorite businesses in the …

SB Partners is a Great Place to Work – Burlington’s Award-Winning Accounting Firm Receives Certification

Burlington, Ontario – SB Partners, a leading Chartered Professional Accounting firm in the Greater Toronto Area (GTA), is proud to announce it has retained its certification as a Great Place to Work™, for the second year running. The firm has …

Unraveling the Mystery around General Ledgers

From a family law standpoint, the general ledgers of a business are one of the more critical pieces of disclosure that are typically required for the preparation of business valuation and income for support reports.

Changes to Reporting
Requirements for Trusts
Updated March 28th, 2024

UPDATE ON BARE TRUST REPORTING FOR 2023 TAX YEAR: On March 28th, 2024, the CRA announced that Bare Trusts would no longer need to file T3 returns for the 2023 tax year unless a direct request is made. We will update this article when further …

Understanding the Difference:
Audit vs. Review in Accounting

There are three main reasons businesses rely on various financial statements: To allow investors, creditors, and analysts to evaluate the performance of a company. To have the ability to compare companies to each other. To use the financial …

Financial Disclosure:
A CBV’s Perspective

Obtaining adequate disclosure in a family law matter has become increasingly difficult over the last couple of years. Whether it’s a lack of cooperation from the business-owning spouse (who is on the opposite side of the file) or clients not wanting …

Cryptocurrency

Cryptocurrency is a digital form of currency that uses cryptography for security purposes. It is decentralized and generally operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of …

Enterprise Value vs Equity Value

When talking about the “value” of a business, there are a number of different value references that one will come across and it is easy to be confused by what they all mean. From a litigation standpoint, the primary concepts are fair market value …

Getting Started with a CRA My Business Account

Working remotely and outsourcing departments presents challenges in efficiency and security. Take advantage of the digital tools available to help your business manage its taxes. They save time, expedite processes, and improve communication within …

2023 Federal Budget – Betting on the clean economy to support prosperity.

The 2023 Canadian Federal Budget was released on March 28, 2023. The Budget theme is supporting the middle class through various initiatives including affordable housing, supporting the Canadian worker, and investing in clean energy initiatives to …

Unveiling the Essence of Valuations: The Time-Dependent Nature of Value

A fundamental concept that is a core principle in valuations is that value is determined at a specific point in time. It is a function only of facts and known information known at this date.

Unlocking Financial Insights: The Definitive Guide to Adjusted Net Asset Valuation (ANA)

The adjusted net asset valuation (ANA) methodology is a method used to value a company or business by adjusting the value of its net assets. This method takes into account both tangible and intangible assets, as well as any liabilities, to arrive at …

Assurance vs Financial Statements

Regardless of the size of your company, having good financial reporting is essential for both internal and external stakeholders. To enhance the accuracy and validity of financial statements, an assurance engagement provides additional level of …

Underused Housing Tax (UHT): Understand Your Filing Requirements or Risk Significant Penalties by the CRA

The Underused Housing Tax (UHT) is a new tax in Canada, which took effect on January 1, 2022. It is an annual tax of 1% on the ownership of vacant or underused residential properties. The tax applies to non-resident, non-Canadian property owners and …

SB Partners Commits to 5-Year Sponsorship of Joseph Brant Hospital’s Mental Health Redevelopment and Expansion Project

At SB Partners, we have a strong commitment to supporting the community. While our mission is a dedication to client service excellence, enriching employee experience, and contributing positively to our communities. Our Vision is very community …

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Get in touch with us

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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