Imagine a business structure that not only helps you transition ownership smoothly but also ensures your company’s values and legacy are preserved for generations. This is the promise of Employee Ownership Trusts (EOTs), a groundbreaking option introduced in Canada’s Budget 2023. EOTs offer a way for business owners, especially those running family-owned enterprises, to transfer… The post Preserving Your Legacy: How Employee Ownership Trusts Can Secure the Future of Your Family-Owned Business appeared first on Shajani CPA ..read more

Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. October 15, 2024              – The September payroll for monthly remittances is due. October 31, 2024              – The fiscal year ends on July 31st tax payments are due. October 31, 2024              – The fiscal year ends on April… The post Important Dates appeared f ..read more

Dealing with the Canada Revenue Agency (CRA) and staying abreast of policies from the Department of Finance are critical components of financial management and compliance for individuals and businesses. At Shajani CPA, a firm with 40 years of experience, legal accolades such as a Maser in Tax Law, Bachelors in Law, TEP Trust and Estate… The post Navigating Interactions with the CRA and Department of Finance: Trust Shajani CPA for Expert Guidance appeared first on Shajani CPA ..read more

Intergenerational wealth transfer is one of the most critical aspects of maintaining family-owned enterprises, particularly in Canada. As family businesses pass from one generation to the next, the successful transfer of wealth, assets, and leadership becomes essential to preserving not only the financial prosperity of the family but also its entrepreneurial legacy. With careful planning… The post Family Habits to Encourage Intergenerational Wealth Transfer appeared first on Shajani CPA ..read more

As a family-owned business, passing down more than just a company is essential—you must also instill strong financial literacy values in your children from a young age. Teaching children the value of money, budgeting, saving, and investing is critical to ensuring they grow into responsible, financially-savvy adults. For families managing enterprises, these values take on… The post Instilling Financial Literacy Values in Children: A Guide for Family-Owned Enterprises appeared first on Shajani CPA ..read more

Retirement planning is a crucial aspect of financial security, and for family-owned enterprises, it carries even greater significance. Unlike traditional employees, family business owners must balance their personal retirement goals with the long-term sustainability of their business. A comprehensive retirement plan is not just about securing income for your later years—it’s about ensuring the continuation… The post Planning for Retirement: A Guide for Family-Owned Enterprises in Canada appeared first on Shajani CPA ..read more

As we enter the final quarter of 2024, the financial markets are navigating a landscape filled with both opportunities and risks. The global economy shows resilience, yet certain regions, including Canada, face mounting challenges. For businesses and investors in Alberta and across Canada, staying ahead of these developments is crucial. This update provides insights into… The post October 2024 Financial Market Update for Family-Owned Enterprises in Canada appeared first on Shajani CPA ..read more

In today’s global economy, families with family-owned enterprises face an increasingly complex regulatory environment, where economic crime prevention is a key focus. The 2024 STEP report “Tackling Economic Crime” provides a comprehensive analysis of existing measures designed to combat financial crimes, such as tax evasion, money laundering, and terrorist financing. These crimes not only damage… The post Tackling Economic Crime in Family-Owned Enterprises – An In-Depth Guide for Canadian Families appeared first on Shajani CPA ..read more

Wealth management is essential for family-owned enterprises, where personal and business finances often intertwine, and decisions made today can impact the family’s financial future for generations. Effective wealth management involves more than just growing assets; it includes tax planning, legal structuring, business valuation, and risk management, all designed to preserve and protect the family’s legacy.… The post Shajani CPA’s Holistic Approach to Wealth Management for Family-Owned Enterprises appeared first on Shajani CPA ..read more

Running a family-owned business in Canada comes with many rewards, but also unique responsibilities—one of the most important being payroll management. Whether you’re paying family members, full-time employees, or part-time staff, proper payroll registration is essential to ensure your business stays compliant with tax laws and avoids penalties. Understanding how to navigate payroll can feel… The post Mastering Payroll Registration in Canada: A Step-by-Step Guide for Family-Owned Businesses appeared first on Shajani CPA ..read more