If you’ve ever sold property or investments in Canada, you’re probably familiar with the concept of capital gains – the profit you make from selling an asset like real estate or other investments for more than you paid for it. What you might not know, however, is that under certain conditions, you may be able…

Starting your own business is exciting, but it can also feel overwhelming. From brainstorming your business idea to dealing with the legal and financial requirements, every step is crucial to setting yourself up for success. At Accent CPA, we understand the challenges new entrepreneurs face, especially here in Manitoba. That’s why we’ve compiled this guide…

Selecting the right corporate year-end is an important decision, as it can have significant tax, financial, and operational implications. While it may seem like a simple administrative choice, the timing of your fiscal year-end can impact cash flow, compliance requirements, and even your ability to plan effectively for the future. Here’s a breakdown of the…

Running a business often feels like wearing a hundred different hats – visionary, leader, accountant, marketer, and problem solver. Among these roles, one we rarely expect to play is fraud detective. But fraud is more common than most of us think, and it can happen to anyone – even the most diligent business owner. Let me…

Filing your taxes can be stressful, and the thought of having your return reviewed by the Canada Revenue Agency (CRA) might feel even more daunting. Understanding why the CRA might review your return and how to respond effectively can make the process far less intimidating. This guide explores the common triggers for a CRA review,…

If you’re a caregiver in Manitoba, you may be eligible for a tax credit that could help ease some of the financial burdens of providing care. The Manitoba Caregiver Tax Credit offers up to $1,400 in support for those who provide essential care to an eligible family member. What Is the Manitoba Caregiver Tax Credit?…

The Canadian housing market is a dynamic environment, and residential flipping—buying and reselling homes for profit—has become a common practice. To address the potential misuse of housing as an investment tool at the expense of affordability and fairness, the Canada Revenue Agency (CRA) has implemented specific rules and taxation guidelines around residential flipping. These rules…

Filing your personal taxes on time is crucial for every Canadian taxpayer. While the tax season may bring stress and uncertainty, understanding the importance of timely filing and the potential consequences of delays can help you manage this responsibility more effectively. Here’s a look at why filing your taxes on time is essential and the…

In the competitive landscape of today’s business world, generating new leads is crucial for growth and sustainability. Whether you’re a small startup or an established enterprise, having a robust lead generation strategy can be the difference between stagnation and success. Here are some effective strategies to help you attract new leads and grow your business.…

Growing your business is an exciting milestone, but it’s also a decision that requires careful planning and strategic thinking. One of the biggest challenges that comes with expansion is deciding when to hire more staff. Bringing new employees on board too soon can strain your finances, but waiting too long might slow down growth and…

Transferring a family cottage to the next generation can be a meaningful way to preserve family memories, but it often comes with significant tax implications. Here are some strategies to reduce taxes on this transfer, ensuring that more value is passed on to your loved ones. 1.    Principal Residence Exemption (PRE) One of the…

The family farm has been the traditional backbone of agriculture across Manitoba and western Canada. Older generations of farmers may look to their spouse or children to carry on and continue operating what they have built. In planning for this eventuality, there are some strategies to consider in order to minimize the tax liability and…

In today’s competitive landscape, the health of your business is paramount. Just as individuals benefit from regular health checkups, businesses too require annual assessments to ensure they are on the right path. In this blog, we will explore how conducting annual checkups for your business can lead to improved performance, strategic growth, and long-term success.…

I dip my toes into the edge of the pool. The water is warm, but not too warm. The Kinsmen Aquatic Complex is recreational pool designed for all users – not just us lane swimmers. A quick glance at the oversized swim clock tells me it’s 12:20 pm – my usual swim time. I am…

When you think of your accountant, do you put them in the same category as your dentist: once a year and its always painful? When you deal with Accent it should not be either of those things. Did you know that we provide other services such as interim financial reviews, tax planning and projection of…

Not all workers paid to work for you or support your business are employees.  In some circumstances, they may be categorized as a subcontractor. What’s the difference between an employee and a subcontractor? There are important distinctions that you should know about. CRA withholding taxes Employers are required to withhold relevant withholding amounts such as…

As an employer you will go through cycles where business will be busy, slow, or somewhere in between. At the start and end of each busy season you will consider ways to motivate your team during busy seasons, and then think of ways to thank staff after the busy season ends. As we are nearing…

In the current climate, every business needs cash. If your cash is tied up in accounts receivable and inventory, you are putting the health of your business at risk. Learning about your business’ cash-flow cycle will enable you to maximize new opportunities and allow for flexibility and growth. By following these six strategies, you will…

Experiencing the death of a loved one is a difficult thing to go through. Aside from the loss of someone close to you – a family member, friend, co-worker or neighbour, there are plenty of things that need to be dealt with on behalf of the individual’s estate. These include arrangements for a funeral/celebration of…