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Strategic financial management involves managing a company’s finances with the intention to succeed. This essentially means that strategic financial planning is responsible for attaining a company’s long-term goals and objectives and maximizing shareholder value over time. Given Toronto’s diverse and innovative economic environment, strategic financial planning becomes an essential tool for local businesses to navigate …

What’s Included in Strategic Financial Planning? Read More »

While filing your taxes late can feel stressful, it’s always best to take action and begin the process as opposed to letting it drag out any longer. Here’s everything you’ll want to know. Canada’s Tax Deadline Understanding when exactly to file your taxes will help you avoid filing late in the future. In Canada, the …

Filing Your Taxes Late? Read This First Read More »

For Toronto-based entrepreneurs who have just launched a small business, managing basic bookkeeping and expense tracking might seem manageable initially. But there will come a time when you want and need professional help and advice. Maybe your business has boomed and is growing faster than you’ve projected, or you have a chance to gain new …

How to Find the Best Outsourced CFO for Your Business Read More »

If you’re launching your business in Toronto, the excitement can quickly become overwhelming. This city offers a dynamic business environment that requires a sound strategy from the start. But even with a solid business plan, partnering with a local Toronto-based business strategy firm like Leonard Tam Professional Corporation, which is familiar with the unique market …

Starting a Business? Consult with Business Strategy Firms First Read More »

Amongst all the tasks of getting your business off the ground, setting up payroll is a crucial component. No matter your industry or team size, employees will want to be paid on time. And, even if the process of setting up payroll may seem intimidating at first, you’ll likely find it much easier than you …

Should You Set Up Payroll with a Chartered Ontario Accountant? Read More »

When you’re the owner-operator of a small business, there is a lot to keep you occupied throughout the workday or week. Juggling competing responsibilities means that sometimes things fall through the cracks. But when it comes to bookkeeping, payroll, and taxes, missing a deadline can mean stiff penalties and fines. When you weigh how much …

How Much Does a Bookkeeper Cost for a Small Business? Read More »

When you started your business, you did so because you had a product or service to provide. Thanks to your expertise and skill, your business is solving problems in people’s everyday lives, and doing good things for your community. However, with any business comes a list of complex details and policies — especially when finances …

How Small Businesses Benefit from Financial Counselling Services Read More »

We get it. You’re always looking for ways you can save money when you’re self-employed. Not only is maximizing your revenue important, but frugality takes on a new meaning because you’re entirely dependent on your own efforts to bring in your paycheck each month. It’s no different with getting your taxes done. In Toronto, the …

Why Self-employed People Hire a Tax Accountant in Toronto Read More »

Running a small business comes with many perks and freedoms you don’t get working for someone else. However, running your business comes with challenges of its own. Problems come up along the way (both good and bad) that you don’t always have the answers for. In Toronto’s bustling and competitive market, navigating the complexities of …

5 Benefits of Working with a Small Business Consultant in Toronto Read More »

As a taxpayer and Canadian citizen, you may sometimes go through tough financial times and be unable to pay taxes owed come tax season. CRA form RC376 is one document you may have to fill out to achieve this. The Canada Revenue Agency (CRA) allows individuals to cancel or waive interest or penalties based on …

Filing CRA Form RC376 for Taxpayer Relief Read More »