RLB Blog

Planning is always the key to success in any endeavour and succession is no different. The well-planned transition of your business can benefit you financially while also providing you with peace of mind that your business will become your legacy.

Business owners work for years to build up a business that they are proud only to come to the grim realization that they will be walking away from it all upon retirement. But transitioning the business doesn’t have to be a scary thing when you know what options are available. With appropriate planning, the transition of both management and ownership can happen over time, allowing the business to continue to evolve with a contribution from both the old and new owners.

Fergus, ON | August 10 – RLB Chartered Professional Accountants (RLB) is honoured to receive the Business of the Year award at the 2020 Centre Wellington Chamber of Commerce’s Awards of Excellence. The drive-in style event allowed for a socially-distanced celebration of local businesses and individuals in the Centre Wellington community.

HR with Dana Gidge Compliance

Like all of you, we’ve been monitoring the evolving global impact of the novel coronavirus (COVID-19). As employers, our number one priority has always been and remains the health and safety of our people.  We would like to share best practices on how you, as an employer, can uphold that commitment.  We hope that this plan adds to the health and well being of you and your employees during this time.

You’ve done it. After years of hard work, saving and making smart investments, you can finally afford to purchase your first home. Now what?  

Did you know that you can use your financial institution’s online banking portal to pay your individual taxes to the Canada Revenue Agency (CRA) and you can also pay your business taxes online from a business bank account?  It’s as easy as paying any of your other bills.

If you use your vehicle for earning business income and have eligible travel expenses, you are probably already aware that you can deduct some of your vehicle costs. What you may not know, though, is the difference between leasing and financing a vehicle for tax purposes. If you’re considering adding a new vehicle to your business, here are some things to consider:

Do your employees use their personal vehicles for business purposes? The tax deduction limits and expense benefit rates have changed for 2019. Make sure you understand as an employer your responsibilities around allowances to cover expenses.