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Succession: Summary for Success

Succession: Summary for Success

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.

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Succession: What are my options?

Succession: What are my options?

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.

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Succession Part IV: Where should I start?

Succession Part IV: Where should I start?

Employers Guide to COVID-19

Employers Guide to COVID-19

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.

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Paying CRA with Online Banking

Paying CRA with Online Banking
February 26, 2019

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.

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Tax Considerations for Leasing vs. Financing an Automobile

Tax Considerations for Leasing vs. Financing an Automobile
February 26, 2019

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:

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Vehicle Deduction Limits and Expense Benefit Rates for Businesses

Vehicle Deduction Limits and Expense Benefit Rates for Businesses
February 11, 2019

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.

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Have you distributed T4 slips to your employees yet?

Have you distributed T4 slips to your employees yet?
February 11, 2019

The deadline to give employees their T4 slips is Thursday, February 28, 2019! The failure to distribute T4 slips on time is $25 per day for each failure with a minimum penalty of $100 and a maximum of $2500.

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Happy Small Business Month!

Happy Small Business Month!

October is  Small Business Month and RLB is always here to help! Often, our main role is known to be ensuring small businesses are compliant with deadlines, rules, and regulations that the Canada Revenue Agency (CRA) sets.

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Deadlines You Should be Aware of as a new Business Owner

Deadlines You Should be Aware of as a new Business Owner
April 2, 2018

Transitioning from being an employee to running your own business comes with great challenges. One of these challenges is keeping up with the laundry list of compliance filings with the Canada Revenue Agency (CRA).

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