What is Angel Tax?
Angel tax is the tax imposed on startups that secure funding at a valuation exceeding their market value. The surplus amount paid is considered income and subject to a specified tax rate. Previously this law posed challenges and underwent scrutiny affecting both startups and angel investors regarding their growth potential.
EBITDA- Earnings Before Interest, Tax, Depreciation, and Amortization.
In the intricate business landscape, making well-informed decisions relies on understanding important financial measurements. One such measurement is EBITDA, which stands for Earnings Before Interest, Tax, Depreciation, and Amortization. This metric holds importance for all businesses.
What a Restaurant owner is looking for from an Accountant? | Restaurant Accounting in Canada
Restaurant Accounting specialized yet vital service extends beyond number crunching for eateries. It ensures that while chefs devote their attention to perfecting their dishes the financial well-being of the establishment remains strong and compliant. Every misplaced receipt, transaction, or missed tax deadline can potentially spell disaster for a restaurant’s success—regardless of how popular it may be or how rave reviews it receives.
Ensuring Cyber Trustworthiness: Key Role of Internal Audit in Your Business
Ensuring Cyber Trustworthiness: Key Role of Internal Audit in Your Business Cyberattacks are increasing threats to businesses in today’s interconnected and digital world. Sensitive Data, Financial Assets, and the rest of the overall company’s reputation are at significant risk of Cyber-attacks. As technology plays a crucial role in daily operations; thus companies must take proactive […]
Mastering Business Growth in 2023
Mastering Business Growth in 2023 In the fast-paced and competitive dynamic business landscape of 2023, it has become essential for entrepreneurs & small businesses to master growth. With changing consumer behavior, new technologies, and increased competition in the market, business requires practical and strategic planning and execution. Mastering growth is of paramount importance for businesses. […]
RRSP in Canada for Small Businesses- Maximizing retirement savings
RRSP in Canada for Small Businesses- Maximizing retirement savings RRSP is a registered retirement savings plan for employees and self-employed in Canada. Registered retirement savings plan helps individuals to save for their retirement. It is a tax-advantaged account created by the Government of Canada to encourage people to save for their retirement. This plan was […]
Understanding Financial Statements: A Comprehensive Guide
Financial statements are essential documents that provide a comprehensive overview of the financial cash flow, position, and performance of a company. Financial
Outsourcing Tax Services for Small Businesses: When, How, and Why to Consider it as a Small Business Owner.
Outsourcing Tax Services for Small Businesses: When, How, and Why to Consider it as a Small Business Owner. Outsourcing has become a popular choice for small businesses in recent times. With the ever-changing laws of taxation, handling tax work becomes hazy for small businesses. Keeping in-house staff becomes costlier and burdens the owner. Therefore, outsourcing […]
Common Tax Deductions for Small Businesses in 2023: What You Need to Know
Common Tax Deductions for Small Businesses in 2023: What You Need to Know If you are a small business owner, your business gains are subject to government taxes. Businesses must have an understanding of tax and tax deductions in their field. There are some common tax deductions for small businesses that can reduce the tax […]
Maximizing Tax Savings for Small Businesses: How TFSA Can Help
Maximizing Tax Savings for Small Businesses: How TFSA Can Help? A Tax-Free Savings Account (TFSA) is an investment account that allows Canadians to save money tax-free. These were introduced in Canada in 2009 as a way for individuals to save for their future without being taxed on the growth of their investments. However, TFSAs are […]