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4 reasons why you can't afford to skip out on succession planning

By  Saklas & Co., CPAs |   | Posted in " Business Strategy, Estate Planning, Financial Planning, Succession Planning "

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Succession planning is crucial for ensuring the long-term success and stability of your business. Discover four compelling reasons why neglecting this important task could put your business at risk. From safeguarding the continuity of your operations to maximizing your business's value for future transitions, succession planning is not just an option but a necessity. Learn how Saklas & Co., CPAs can guide you through the complex process, ensuring a seamless transition and securing your legacy.


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Tax Planning: 7 Tax Strategies and Concepts to Know

By  Saklas & Co., CPAs |   | Posted in " Business Finance, Financial Growth, Professional Tips, Tax Planning, Tax Strategies "

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Discover essential tax strategies with our latest guide, "Tax Planning: 7 Tax Strategies and Concepts to Know". This article provides invaluable insights into effective ways to reduce your tax liability and enhance financial health, whether you're a seasoned business owner or a new entrepreneur. Learn from the experts at Saklas & Co CPAs how to leverage tax regulations to your advantage. Each strategy is designed to be practical, applicable, and tailored to help you navigate the complexities of tax planning efficiently.


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The Basics of Financial Statement Preparation: A Step-by-Step Guide

By  Saklas & Co., CPAs |   | Posted in " Business Succession, Estates & Trusts "

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In the dynamic world of finance, understanding the basics of financial statement preparation is paramount. Whether you're a seasoned business owner or just starting, financial statements play a pivotal role in gauging the health and performance of your enterprise. In this comprehensive guide, we will delve into the intricacies of financial statement preparation, providing you with a step-by-step understanding of this critical process.


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Strategic Estate Tax Planning: Minimizing Tax Liability for Your Heirs

By  Saklas & Co., CPAs |   | Posted in " Business Succession, Estates & Trusts "

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In the complex realm of financial planning, few aspects demand more attention and careful consideration than estate tax planning. As we navigate the intricate landscape of wealth management, ensuring a smooth transition of assets to the next generation becomes paramount. At Saklas & Co., CPAs, based in Surrey, BC, we recognize the significance of Strategic Estate Tax Planning in safeguarding your legacy. In this comprehensive blog, we delve into the nuances of estate tax planning, offering insights and strategies to minimize tax liability for your heirs.


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Smooth Transitions: Key Steps in Business Succession Planning

By  Saklas & Co., CPAs |   | Posted in " Business Succession, Estates & Trusts "

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Succession planning is not just a buzzword in today's dynamic business landscape; it's a strategic necessity. As businesses evolve, so do the challenges associated with leadership transitions. At Saklas & Co., CPAs a leading Chartered Professional Accounting Firm in Surrey, BC, we understand the pivotal role of seamless business succession planning in ensuring continuity and growth. This comprehensive guide will delve into the key steps of effective business succession planning, shedding light on the critical aspects that every business owner should consider.


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Solving Common Problems That Most Small Businesses Face

By  Saklas & Co., CPAs |   | Posted in " Business Succession, Estates & Trusts, Family Succession "

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Common problems faced by most small businesses today include poor planning, a failure to understand customer behavior, inventory mismanagement, a lack of sales, etc. The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.


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Season’s Greetings From Saklas & Co., CPAs

By  Saklas & Co., CPAs |   | Posted in " Estates & Trusts, Family Succession, Risk Management "

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Season’s Greetings from Saklas & Co., CPAs. We wish you and your family a wonderful holiday season and a happy, healthy, and prosperous New Year 2022!


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Tips To Get The Most Out Of Your Tax Return

By  Saklas & Co., CPAs |   | Posted in " Business Succession, International Tax, Risk Management "

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Filing prompt tax returns is the duty of every citizen in the country to stay on the right side of the Canada Revenue Agency (CRA). It can also help to gain refunds if too much tax is deducted from an employees’ salary. However, many employees are unaware of the benefits they can take advantage of when filing returns, which usually ends up with them paying unnecessary tax.


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TFSA Users: You Could Pay 15% Tax on Dividends With 1 Costly Mistake

By  External Author |   | Posted in " International Tax "

Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Christopher Liew, CFA 

Original Article Posted on:  June 12, 2021

Link to Original Article:  https://www.fool.ca/2021/06/12/tfsa-users-you-could-pay-15-tax-on-dividends-with-1-costly-mistake/


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Tax-Saving Tips For Canadian Taxpayers

By  External Author |   | Posted in " Business Succession, International Tax "

Original Article Source Credits:  Investopedia , https://www.investopedia.com/

Article Written By:  Andrew Beattie 

Original Article Posted on:   May 6, 2021

Link to Original Article:  https://www.investopedia.com/articles/pf/07/canadian_tax.asp


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