In Part 1, we discussed why business valuation is important and what information is needed to get started. Now, let’s explore the methods used to value a business in Canada and the common mistakes that business owners often make during the process.
When it’s time to sell or transfer ownership of your business, one of the most important steps is to get a clear valuation. A proper valuation not only helps set a fair purchase or selling price, but it also informs your broader business strategy and tax planning. Understanding the value of your business is crucial to securing the best possible outcome in a sale or transfer.
Starting a business in Canada involves understanding various regulations, one of which is collecting sales tax. Whether you’re selling products or services, knowing when and how to collect sales taxes is crucial for compliance. Here's what you need to know about sales tax as a startup in Canada.
Running a small business in Canada involves juggling many responsibilities, and amid the daily demands of buying supplies, selling goods, fulfilling customer orders, and growing your business, certain tasks can easily slip through the cracks. One such task, often overlooked by business owners, is maintaining an up-to-date corporate minute book.
Starting a small business in Canada is an exciting venture, offering various pathways depending on how you want to structure your business. The three primary business structures you can choose from are sole proprietorship, partnership, and corporation. Each structure has its own set of advantages and challenges, and your choice will significantly impact your operations, taxes, and legal responsibilities.
Since the 2024 federal budget announcement and the increase in the capital gains inclusion rate became effective June 25, 2024, the increased tax rate has garnered significant public attention.
If this impacted you, you must know what capital gains are and how the new federal budget impacts individuals and business owners moving forward.
Fraud, a persistent concern in the business world, can wreak havoc on finances, reputation, and trust. But with vigilant auditing practices, businesses can detect, deter, and prevent fraudulent activities.
In a move to support small businesses and not-for-profit organizations, the Canadian government has extended the deadlines for the Canada Emergency Business Account (CEBA) loan repayments.
