RLB Blog

.author-area {display:none !important} Executive summary After discussions with U.S. President Donald Trump, Prime Minister Justin Trudeau announced that both countries will delay implementing tariffs after Canada made additional border security commitments. Since the threat of 25 per cent tariffs on most Canadian goods and retaliatory measures remain viable, businesses will want to consider tariff mitigation strategies and lowering reliance on single markets.

What is a Disaster Recovery Plan (DRP)? A Disaster Recovery Plan (DRP) is a documented, structured tactic that describes how an organization can quickly go back to work and operations after an unforeseen incident occurs. Having a DRP can be the difference between closing your doors for a week versus forever. Instances when an organization might need a DRP could include:

After two years in lockdowns, red zones and face masks, the Ontario government will be providing a “Staycation” Tax Credit for 2022. The aim of the tax credit is to encourage Ontario residents to explore the province and boost the tourism and hospitality sectors financially from the pandemic. This can be viewed as a less risky alternative to travelling outside of Canada. The tax credit is estimated to provide $270 million in support to 1.85 million Ontario families.

At RLB, we’re passionate about client success. We go beyond traditional accounting services and offer our clients experienced business advisory services. In honour of Small Business Month, some of RLB’s business experts have shared with us their personal secrets for growing your small business.

Many companies rely on financial leverage such as loans, mortgages, and credit facilities to sustain and grow their businesses. Current economic conditions may place higher reliance on financing for the operational success and continuance of your company. Once you have acquired financing from a bank, a private lender, or another financial institution, it is essential to plan for what comes next. The following tips will help you get the most out of your financial leverage.

It is important to manage legal risk for NPOs. For these Not-for-Profit organizations (NPO), there are often many requirements and guidelines to follow. Especially regarding funding and leadership. To ensure compliance, your organization's board and senior management must conduct regular legal check-ups. This will ensure proper due diligence and prevent costly mistakes and avoid exposure to legal liability. According to Carters Professional Corporation, the following 10 tips identify key issues that charities and NPOs should address for effective legal risk management.      

New Year - New Opportunities

Have you heard? Everyone has probably heard about increases to the minimum wage in Ontario. There is currently one set increase this fall and two further increases proposed by the Ontario government. The plan is to have the increase phased in over the next two years. Here is what you need to know:

Accountants and other professionals often advocate incorporating a holding company (“holdco”). But now what? Establishing a holdco is most commonly used to hold the shares of an operating company (“opco”). Retained earnings of the opco can be transferred to the holdco through a tax-free intercompany dividend, in most cases.