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.
“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.
Why You Won’t Actually Save $800 from the New Federal Tax Cut
The federal tax cut promises big savings, but most Canadians earning around $70,000 will keep less than $800. Here’s a breakdown of what’s really changing.
What to Expect If You Miss a CRA Payroll Remittance Deadline
Missing a payroll tax deadline can lead to hefty CRA penalties and daily interest. Learn what happens, how to avoid it, and why proactive payroll support matters.
Time-Saving QuickBooks Shortcuts Every Business Owner Should Know
Discover time-saving QuickBooks shortcuts for Canadian business owners. Boost productivity, reduce errors, and simplify your bookkeeping.
Why Industry-Specific Bookkeeping and Tax Services Matter for Your Business
We offer industry-specific bookkeeping and tax services built for Toronto businesses. Discover how a tailored approach can improve your financial clarity and compliance.
Simplifying Dividend Taxation in Canada: Eligible vs. Non-Eligible Dividends
Confused about eligible vs. non-eligible dividends? Learn how dividend taxation works in Canada, including gross-up rules, dividend tax credits, and integration.