Think Accounting

Succession planning isn’t just about retirement … it’s about protecting your company’s value, your family, and your team if you choose to sell, transfer, or step away unexpectedly. For Canadian business owners in the $1M - $10M range, the biggest risks are usually avoidable: unclear objectives, messy corporate “housekeeping,” tax surprises (like missing QSBC/LCGE eligibility), and no plan for death or disability. In this in-depth blog post we cover: ✅ What succession planning actually includes (and what it doesn’t) ✅ The 4 most common exit paths for CCPC owners ✅ Tax basics that often drive the outcome (QSBC/LCGE, share vs asset sale, intergenerational transfers, employee ownership trusts) ✅ Documents and data buyers will ask for during due diligence ✅ Common mistakes and how to avoid them ✅ …and more! Let’s dive in! #successionplanning #estateplanning #taxplanning https://lnkd.in/dZ-Ne2jm

The federal government has announced changes in the form of a “grocery rebate” to help Canadians cope with rising grocery and essentials costs. https://lnkd.in/gyXxzPUf

If your business does R&D in Canada, SR&ED can be one of the biggest sources of non-dilutive funding. In this in-depth blog post we cover: ✅ What “eligible SR&ED work” actually means (and what doesn’t count) ✅ Which costs you can claim and how the proxy method works ✅ Provincial SR&ED Tax Credits (Ontario example - OITC and ORDTC) ✅ A SR&ED Calculator You Can Use To Estimate Your Credit ✅ Deadlines and CRA review expectations ✅ The 2025/2026 rule updates ✅ …and more! Let’s dive in! #sred #taxcredits #cdntax #corporatetax #startups #cdntech https://lnkd.in/eng9RZPJ

If you’re a Canadian business owner, hiring a “contractor” can feel like the easy option: pay the invoice, skip #payroll, and move on. But CRA doesn’t decide worker status based on what you call it. CRA looks at the real working relationship - what happens day to day - and then decides whether it’s employment (an employee) or a business relationship (a contractor/self-employed). In this in-depth blog post we cover: ✅ The CRA “two-step” approach (and why your contract isn’t enough) ✅ The key factors CRA weighs for most of Canada ✅ Common red flags that trigger reclassification risk ✅ What’s at stake (CPP/EI, payroll deductions, penalties) ✅ The “incorporated contractor” twist: Personal Services Business (PSB) ✅ A practical checklist for business owners ✅ …and more! Let’s dive in! https://lnkd.in/eDCfeCuk

A SAFE (Simple Agreement for Future Equity) is a popular way for Canadian startups to raise pre-seed money without setting a valuation today. Instead, investors get the right to receive shares later - usually when you close a priced equity round - based on a formula (often a valuation cap and/or discount). In this in-depth blog post we cover: ✅ What a SAFE is (and what it is not) ✅ How SAFE conversion works (triggers + formulas) ✅ Pre-money vs post-money caps (why it changes dilution) ✅ SAFE vs convertible note vs priced equity ✅ Common founder mistakes and how to avoid them ✅ A simple conversion example with numbers ✅ …and more! Let's dive in! https://lnkd.in/eQ2g2m9B #startups #SAFE #equityraise #fundraising #SAAS #privateequity

If you’re paying yourself dividends from your corporation, should it be classified as eligible dividends or non-eligible (aka ineligible) dividends? These two dividends can be for the same cash amount but create very different tax results. In this in-depth blog post we cover: ✅ Difference between Eligible vs Non-Eligible Dividends ✅ What determines a dividend to be “Eligible” ✅ How to pay the right type of dividend, step-by-step ✅ Common mistakes we see (and what they cost) ✅ Planning notes for owner-managers ✅ …and more! Let’s dive in! https://lnkd.in/gbvuSeQn #taxplanning #taxseason #dividends #smallbusinesstips

Your child turns 18. And suddenly a financial window opens that can change their next 10 years. Or you can accidentally trigger CRA penalties. TFSA optimization or overcontributions. FHSA can be Fantastic or Frustrating to understand. And most kids skip filing a tax return until later. Which is a mistake. If you are a parent, or you own a CCPC…Read this before you “help” with money. We wrote a practical checklist for Canadian parents. TFSA. FHSA. First tax return. CRA My Account. Tuition. Credit building. Plus the business owner play. Hiring your child the right way. https://lnkd.in/gy8Z8QWB

✨ New year, new goals ✨ This year, our focus is on helping business owners: ✔️ Understand their numbers ✔️ Plan ahead with confidence ✔️ Stay compliant without the overwhelm Here’s to a productive and successful year ahead—for all of us. 🙌 #ThinkAccounting #NewYear #NewGoals

A guide for spouses with dissimilar incomes to save taxes through spousal RRSPs.

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