Construction

How to Stay Together While Moving Forward: Anticipating Issues in Succession Planning for the Family Business

How to Stay Together While Moving Forward: Anticipating Issues in Succession Planning for the Family Business

Passing an established business from one generation to the next is invariably difficult, especially when you add the complexity of family dynamics. So, how do you avoid the traps of failure during transition between generations? Unbiased, experienced external advisors can provide valuable advice because what they see happening with one family, they have likely seen happen to many others.

Personal Services Business – Avoid the Trap

Personal Services Business – Avoid the Trap

The last thing you want when you incorporate your business is for the Canada Revenue Agency (CRA) to label you a personal services business (PSB).

If CRA determines an incorporated individual working as a contractor is just an employee of the company they are working for, they would be deemed a PSB.

There are many advantages to incorporating, and despite the possible pitfalls, it may be beneficial for you to do so. But, it’s complicated and can be confusing. Talk to a tax specialist before you decide.

Employees and the Cost of Owning a Small Business

Employees and the Cost of Owning a Small Business

When the Department of Finance announced earlier this year that it was planning to end “income sprinkling,” GGFL was at the vanguard of local protest. It’s not news to anyone that the protests have grown and the issue has since become a major thorn in the federal government’s side. Along with the nation’s accountancy community and, collectively, our millions of clients, we anxiously await what we expect and hope will be significant changes to the proposed legislation.

GGFL Named ‘Best of the Best’ by INSIDE Public Accounting

GGFL Named ‘Best of the Best’ by INSIDE Public Accounting

GGFL has been named one of INSIDE Public Accounting’s ‘Best of the Best Accounting Firms’ for North America.  GGFL was one of just 50 firms in North America to receive the honour from the 540 firms that participated in the in-depth survey and analysis.  Only five accounting firms in Canada were among the recipients of the […]

Making the Decision to Lease or Buy

Making the Decision to Lease or Buy

The decision to lease or buy an asset is an issue that business owners and individuals are faced with all the time. There are many things to consider when contemplating whether to lease or buy, be it equipment, vehicles or something else. Creating a pros and cons list is a popular decision-making tool that helps people gain perspective on the decision.