Maximizing Business Growth with SDG Accountant In today’s competitive business landscape, effective financial management is more crucial than ever. Companies need robust financial strategies to drive growth, manage risks, and stay ahead of the competition. As a leading multi-national accounting and practice firm headquartered in Toronto with a dedicated office in Florida, SDG Accountants offers comprehensive CFO... The post CFO Outsourcing and Controller Services appeared first on SDG Accountant ..read more

Is your QuickBooks® Online a mess, with unreconciled transactions and financial chaos making it hard to see where your business stands? Clean up your messy QuickBooks Online books with SDG Accountant in Toronto and the Greater Toronto Area. We understand the importance of clean, accurate books for making sound business decisions. Based in Toronto and... The post Clean Up Your Messy QuickBooks Online Books in Toronto appeared first on SDG Accountant ..read more

The Dreadful Shareholder Debt Balance and how SDG, Chartered Professional Accountant Saved a Medical Doctor from Tax Troubles Introduction: Navigating the complexities of Canadian corporate tax regulations can be challenging, especially for professionals who juggle a demanding career with managing their business affairs. One of the most common issues that professionals face is the misuse... The post Shareholder Debt Balance: Case Study appeared first on SDG Accountant ..read more

Navigating the complexities of corporate tax regulations can be challenging, especially when it comes to shareholder loans and their tax implications. At SDG Accountant, we are committed to helping our clients manage these complexities effectively. One critical area of focus is Subsection 15(2) of the Income Tax Act, which plays a crucial role in how... The post Understanding Shareholder Loans and the Importance of Accurate Bookkeeping appeared first on SDG Accountant ..read more

The Dreadful Shareholder Debt Balance and how SDG, Chartered Professional Accountant Saved a Medical Doctor from Tax Troubles Introduction: Navigating the complexities of Canadian corporate tax regulations can be challenging, especially for professionals who juggle a demanding career with managing their business affairs. One of the most common issues that professionals face is the misuse... The post Shareholder Debt Balance (For Canadian): Case Study appeared first on SDG Accountant ..read more

Exciting developments are underway for therapy services across Canada! Following extensive efforts, many therapy services will now be exempt from GST/HST starting June 20, 2024, enhancing accessibility to these crucial services. It’s essential for practitioners to grasp the specifics and implications of these changes. Eligibility Criteria To qualify for GST/HST exemption, therapy services must meet the following criteria: Related Read: GST/HST for Business and Self-employed Individuals 101 GST/HST is an integral part of running a business, and not understanding the rules surrounding ..read more

Are you a business owner in Toronto or its surrounding cities seeking ways to optimize your corporate structure? For many businesses, there are more benefits of a Holdco. Considering a holding company, or “Holdco,” could be a strategic move with a range of advantages. However, navigating the complexities involved requires careful consideration and expert guidance. Daniel Wilson, Partner in Taxation at SDG Accountants, sheds light on the advantages and key considerations of integrating a Holdco into your business framework. Holdco Demystified In essence, a Holdco isn’t your typical operat ..read more

SDG Accountant Firm Helps Client Recover Foreign Investment in Real Property Tax Act (FIRPTA) Tax on Selling his Florida Rental Property Client Information Client Name: John Smith Location: Toronto, Canada Situation: Sold Rental Property in Florida Client Background: John Smith, a Canadian resident, owned a rental property in Florida for several years. Upon selling the property, he encountered FIRPTA tax implications, which required withholding a portion of the proceeds to satisfy potential U.S. tax liabilities. Client's Needs: John approached SDG Accountant seeking assistance with ..read more

LIEKLY APPLICABLE TO LARGE PUBLIC CORPORATIONS 2024! Canada is ushering in a new era of taxation with the introduction of the Canadian Digital Services Tax (DST), set to take effect from January 1, 2024, with retroactive implications to tax years commencing January 1, 2022. This groundbreaking tax legislation is poised to impact large Canadian and non-Canadian businesses engaged in the digital services sector, marking a significant shift in how digital revenues are taxed within the country. We at SDG Accountant decided to summarize some key information regarding this new tax below. Canadi ..read more

What is the Underused Housing Tax (UHT)? At SDG Accountant, we recognize the importance of keeping up with local tax regulations that affect our community. The Underused Housing Tax (UHT) is a federal tax that has been a topic of discussion, and we’re here to help you understand the ins and outs of this tax, its filing deadline, penalties for non-compliance, and the recent updates provided by the Canada Revenue Agency (CRA). Understanding the Underused Housing Tax (UHT) The UHT, introduced under the Underused Housing Tax Act, is an annual 1% tax on certain vacant or underused housing in ..read more