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Once you’ve started directing effort and funds toward earning income as a musician, congratulations, you’re in the music business! Many musicians put off organizing the business side of their career until they have to, only to realize how many opportunities they missed to save money along the way. So, no matter how overwhelmed you may […]
Read MoreThe purchase or sale of a business can be the biggest financial transaction of an owner’s life, with plenty of items to consider along the way. From our experience of valuing thousands of companies and working on deals in a wide range of size and industry, we have prepared a list of pivotal items to […]
Read MoreMowbrey Gil is pleased to offer students and their spouses 2018 personal tax return services at no charge. Being a student should be your only worry – let us help you with the rest. Scholarship Income Tuition Tax Credits Union / Professional Dues Student Loan Interest Medical Council of Canada Evaluating Examination (MCCEE) Moving Expenses […]
Read MoreThe Canadian taxation system is structured so that investment income (such as interest income and rental income) earned in a corporation would be taxed at the same rate as investment income earned personally (at the highest tax rate). The way in which the system works is that a corporation pays tax on its investment income […]
Read MoreAs we enter 2019, the security challenges faced by small to medium sized businesses will only continue to escalate and as such, it may be a good time to re-evaluate your company’s security posture. SMBs are often challenged by the fact that they do not possess the internal expertise required to correctly safeguard against current […]
Read MoreWhen to Involve a CBV Business owners and legal advisors are often unsure when the services of a CBV are needed and to what extent. Depending on the situation, a CBV could be engaged to act as an independent expert or in an advisory role, where there is no expectation of independence. CBVs are often […]
Read MoreRisk management It is impossible to completely eliminate the risks that can threaten a company’s success, but we can manage and minimize them by implementing a risk management process. The main risk categories are: Strategic: Related to running the business, including industry developments Operational: Related to the company’s operational and administrative procedures Financial: Related to […]
Read MoreSeparation and divorce are becoming more and more common in our society. It is important to consult and include your accountant in your divorce or separation proceedings since there are important financial and tax considerations that must be considered. Failing to do so may result in either an immediate tax burden or one that will […]
Read MoreIFRS 16 is a new leasing standard which will be replacing the old leasing standard, IAS 17. This new standard is effective for annual reporting periods beginning on or after January 1, 2019. Under the old standard, IAS 17 the substance of the lease agreement determined whether the lease was an operating lease or a […]
Read MoreNo companies are safe from fraud, no matter how big they are or what industry they’re in. According to the International Trade Council, 5 per cent of revenues (representing US$800 billion worldwide) are lost to internal or external fraud. The most common fraud tactics include corruption, misappropriation of assets, and financial statement fraud. And with […]
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