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December 3, 2024

Understanding the Small Business Deduction in Canada: Unlocking Tax Savings for Growth

The Small Business Deduction (SBD) is a significant tax benefit that Canadian-Controlled Private Corporations (CCPCs) can leverage to reduce their tax liability. This deduction applies to the first $500,000 of active business income, offering opportunities for reinvestment and financial stability. Here’s a comprehensive guide on what the SBD is, who qualifies, and how to make […]

November 15, 2024

Preparing Financial Books According to Canadian GAAP: A Guide for Canadian Businesses

Preparing Financial Books According to Canadian GAAP: A Guide for Canadian Businesses For Canadian businesses, maintaining financial books in compliance with Canadian Generally Accepted Accounting Principles (GAAP) is essential for accurate financial reporting, regulatory compliance, and long-term growth. Canadian GAAP provides a framework that guides businesses on how to prepare, present, and disclose financial information. […]

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