Insights & Advice for Business Owners
Welcome to my Blog — your go-to resource for small business financial insights across.
Whether you're a startup navigating cash flow or an established company looking to streamline your accounting, tax preparation & bookkeeping processes, you'll find valuable content designed to support your success.
As a CPA and QuickBooks Pro Advisor, I’m here to break down complex topics into clear, actionable advice tailored for entrepreneurs.
Bookmark this page and check back weekly for fresh content on accounting, taxation, bookkeeping, financial management, software integration, and more.
Top Accounting Firms in Downtown Toronto: Trusted Experts for Your Business
Downtown Toronto is home to top-tier accounting firms that help businesses manage finances, taxes, and growth. We spotlight the best—featuring Ali Asghar CPA as a trusted advisor for entrepreneurs and professionals alike.
Missed the T2091 Deadline? Here's What It Means for Your Principal Residence Sale
Selling your principal residence? Don’t forget Form T2091. Late filing can lead to penalties and reassessment—even if no tax is owed. Learn how to fix missed filings and protect your exemption with help from a Tax Accountant.
Stretching Startup Dollars: From Burn Rate Panic to Financial Power
Burn rate can be a silent killer—or a strategic advantage. Learn how startups can stretch every dollar, cut waste, and build financial power with the help of a Fractional CFO. From lean budgeting to runway forecasting, this guide unlocks the smartest ways to scale sustainably.
Kickstart Your Startup with a CFO Consultant: The Smartest Move Founders Rarely Make
Every founder knows how to hustle—but few realize early enough the power of financial strategy. Learn how partnering with a CFO consultant can elevate your startup’s game with smarter decision-making, investor-ready forecasting, and scalable support that fits your early-stage needs
Five Costly Finance Mistakes Startups Make—and How to Dodge Them with a Fractional CFO
Startups don’t fail because of bad ideas—they fail because of financial missteps that creep in unnoticed. From tangled cash flow to scaling too fast, this article unpacks five common financial mistakes startups make—and how a Fractional CFO can offer strategic, scalable support. Learn how to turn financial chaos into clarity.
“We Forgot to File the 45(3) Election!” – A Canadian Taxpayer’s Close Call and What You Can Learn From It
Learn how a client narrowly avoided thousands in unexpected taxes after forgetting to file a 45(3) election when converting their rental property back to a principal residence. A must-read for homeowners and tax professionals.
When Costs Creep In: A Story of Managing Business Expenses in Inflationary Times
When inflation drives up costs, smart businesses adapt. This story-driven guide explores practical strategies for managing expenses, negotiating with vendors, optimizing operations, and protecting profit—without cutting corners. A must-read for any business navigating uncertain economic times.
Navigating the World of Tips in Canada: What Employers and Employees Need to Know
Tips are taxable income in Canada—but when do CPP and EI apply? This guide breaks down controlled, direct, and declared tips so both employers and employees can stay compliant with CRA rules.
How Much Does a Fractional CFO Cost?
Learn how much fractional CFO services cost, what affects pricing, and how to know if this part-time financial leadership model is right for your business.
Unpacking Your Groceries: A Guide to GST/HST on Food in Canada
Ever wonder why some grocery items are taxed and others aren't? In Canada, the CRA draws a line between "basic groceries" (zero-rated) and taxable food. This post breaks it down with clear examples to help you understand what gets taxed at checkout — and why.
Why Hire a CPA? The Benefits of Choosing a Certified Professional for Your Accounting and Tax Needs
Discover why hiring a CPA is the smart choice for tax preparation, bookkeeping, audits, and financial advice. Learn how a certified professional can save you time and money.
Why People Searching for “Top Accountant in Downtown Toronto” Keep Finding Ali Asghar
Ali Asghar CPA keeps showing up in searches for top accountants in Downtown Toronto — for bookkeeping, tax prep, and real client support without the jargon.
Busting Common GST/HST Myths: Don't Get Caught Off Guard by Canadian Tax Rules!
Many business owners misunderstand GST/HST rules, leading to penalties. This post debunks key myths about provincial sales tax exemptions and explains the new 2024 electronic filing requirement, helping you stay compliant with CRA regulations.
“I Don’t Need to Report Side Hustle Income Under $30K” — That’s Not True
Even if your side hustle earns under $30K, you must report all income to the CRA. Learn the difference between income tax and GST/HST obligations.
You’re Not Taking Home What You Think — The Payroll Deduction Myth
A $60K salary should mean $2,308 biweekly… right? Not exactly. Learn what actually comes off your paycheque in Ontario, and use our free payroll calculator to find out your true net pay.
Income Splitting Isn’t Just for Seniors – Strategies That Help Today’s Families
Think splitting income is only for retirees? Learn how spousal RRSPs, trusts, prescribed loans, and small business strategies can help your family too.
The CRA Has My Tax Slips—So I Don’t Need to Do Anything?
The CRA auto-fills some tax slips, but slip-matching isn't enough. Learn what’s missing, common errors, and how to ensure your return is accurate.
Waiting to Pay Your Tax Bill? Why the CRA Wants Your Money Sooner
Owing more than $3,000 in net tax? CRA requires quarterly installment payments. Learn the rules, interest charges, and how to avoid costly penalties.
The Truth About Tax Brackets: No, Earning More Doesn’t Mean You Pay More on Everything
Think a raise will cost you money? Canada’s tax brackets don’t work that way. Learn the difference between marginal and average tax rates with real-world income examples.
Why Your Refund Shrunk This Year — Even If You Made Less
Think you should get a bigger refund because you earned less? Here's why it doesn’t always work that way — and what CRA refunds really mean.