A lot of growing businesses keep the same accounting setup they had in year one, long after that setup stopped fitting. The books still close. The tax return still gets filed. But the owner increasingly can’t answer basic questions about their own business how much cash they’ll have in six weeks, whether a hiring decision … Read more
The Chartered Professional Accountant designation gets explained often enough in the abstract education requirements, exam structure, professional standards that the practical question tends to get skipped: what does a CPA actually do for a business, day to day, beyond what’s listed on an our services page? The Designation, Briefly A CPA is a licensed financial … Read more
Canada has no inheritance tax. Business owners hear that fact and, understandably, relax about it. What they often don’t realize is that death still triggers something with a similar effect: a deemed disposition of all capital property, including corporate shares, at fair market value meaning the growth in your company’s value since you started it … Read more
By the time most incorporated business owners call their Chartered Professional Accountant, the fiscal year is already locked in. The invoices are issued, the payroll is run, the retained earnings have piled up and what’s left is compliance, not strategy. Real tax planning happens earlier, while there’s still room to change the outcome. Why Timing … Read more
“Set up a holding company and save on taxes” is one of the most repeated pieces of advice among Canadian business owners and one of the most incomplete. A holding company can be genuinely useful. It does not, by itself, save anyone a dollar in tax. What it actually does is change when tax is … Read more
Introduction Making the right financial decisions is essential for business growth, profitability, and long-term stability. However, business owners often have to make important choices while managing operations, employees, customers, and market changes at the same time. Lorena Boda CPA helps businesses use accurate financial information and professional accounting guidance to make more informed decisions. Accounting … Read more
As the fiscal year comes to a close, Canadian businesses have an excellent opportunity to review their financial position and implement strategies that can reduce tax liabilities while strengthening overall financial performance. Year-end tax planning is much more than preparing for filing deadlines—it is a proactive process that helps businesses maximize deductions, improve cash flow, and ensure compliance … Read more
Introduction Business succession planning is an important step for Canadian business owners who want to retire, transfer ownership to family members, or sell their company while protecting the value they have built over the years. Lorena Boda CPA can help business owners understand the tax considerations involved in a transition and prepare a strategy before … Read more
Growing a business in today’s competitive Canadian marketplace requires more than strong sales and quality products. Companies must continually adapt to changing economic conditions, evolving tax regulations, technological advancements, and shifting customer expectations. Strategic planning plays a crucial role in ensuring businesses remain profitable while preparing for future opportunities. Lorena Boda CPA Professional Corporation works … Read more
Managing the affairs of a loved one after they pass away can be emotionally challenging, and handling tax obligations often adds another layer of complexity. Executors and beneficiaries are responsible for ensuring that an estate complies with Canadian tax laws while protecting the interests of everyone involved. Understanding how estate taxation works can help avoid … Read more
