Accounting
What Is a Cash Flow Statement? A Complete Guide With Examples
A cash flow statement shows the real cash your business took in and paid out across operating, investing and financing. Book a free consultation.
Writer
Neha Ghauri
With over six years of experience, Neha Ghauri helps Canadian entrepreneurs with accounting, bookkeeping and business setup. She works with owners to organise financial records, assess business ideas and prepare for registration. Through her articles, Neha shares practical guidance on managing finances, starting a company and understanding changes to tax and compliance requirements.
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Articles
Articles by Neha Ghauri
- Business Setup25
- Accounting13
- Tax4
- Compliance3
- Corporate Tax3
- Other3
- Trust Setup2
- Audit1
Accounting
How to Prepare for a Financial Statement Audit: A First-Time Audit Checklist for Canadian Businesses
Reconcile the books, build the PBC list and get the year-end file ready before the auditor starts. Audit vs review vs compilation, when the law requires an audit, the 2026 CAS changes, and a four-phase checklist.
Accounting
ASPE vs IFRS: Which Accounting Standard Does Your Canadian Company Need?
Private companies default to ASPE and publicly accountable enterprises must use IFRS. The key differences, when a private company should elect IFRS, the 2025 to 2026 updates, and how to switch.
Compliance
FINTRAC Reporting Requirements for MSBs in Canada
The five FINTRAC reports an MSB files, their thresholds and deadlines, the 24-hour rule, and the 2025 to 2026 changes to registration and compliance programs.
Accounting
Payroll Remittances: Due Dates, Remitter Types and How to Pay the CRA
Payroll remittance due dates, the four CRA remitter types, how to pay, and what late remittance costs. A plain English 2026 guide from Bestax Accountants.
Accounting
How to Read a Balance Sheet: Guide for Canadian Business Owners (2026)
To read a balance sheet, you look at three things in order: what a business owns (assets), what it owes (liabilities), and what is left over for the owners (equity). If the top number (total assets) e
Business Setup
How to Start a Dog Walking Business in Canada: Cost, Licenses & Steps
Starting a dog walking business offers a fulfilling way to earn income while spending time with pets. Canada’s love for animals and its vast network of parks and trails make it a promising market for
Business Setup
How to Register Your Business Online in Ontario
You can register your business online in Ontario through the Ontario Business Registry. The basics are to pick a structure, check that your business name is available, fill in your details, pay the fe
Business Setup
How to Start Family-Owned Business in Canada (2026): Everything You Need to Know
Starting a family-owned business feels natural. You trust each other, share values, and want the same outcome, and that is exactly what makes it risky. When ownership goes undocumented, roles are assu
Business Setup
How to Start a Trucking Business in Canada 2026: Full Cost Breakdown & Requirements
Before you spend a single dollar on a truck, ask yourself two questions: what will it actually cost to get one vehicle on the road legally in Canada, and do you have a plan for making it pay? Most peo
Trust Setup
Everything You Need to Know About Family Business Succession Planning in 2026
Family‐owned firms are a vital part of the global economy, they employ hundreds of millions of people and shape many national industries. Without a clear plan, unexpected events (death, disability or
Accounting
How To Start a Moving Company Business in Canada in 2026
Starting a moving company can look simple from the outside. You buy a truck, hire help, and book jobs. But most new movers do not fail from “no demand.” They fail because estimates are weak, paperwork
Tax
How to Prepare a T4 Slip
In Canada, employers are legally required to complete and file T4 slips each year for employees who receive employment income, taxable benefits or other remuneration. Failing to file a T4 correctly an
Business Setup
How to Open an LLC in the US From Canada (2026 Guide)
Canada and the United States share the world’s longest undefended border and one of the most integrated economies. It’s no surprise that more Canadian entrepreneurs are exploring ways to form an LLC i
Business Setup
What Is a Business Number (BN) and How to Get One from the CRA
You may have heard the term Business Number when setting up your company in Canada. Many new owners feel unsure about what it really is or when they need one. The CRA uses this unique number to identi
Business Setup
Do You Need a Business Licence in Ontario (2026)
One of the first questions many new entrepreneurs ask when starting a business is “Do I need a business licence?” The answer depends on your business structure, location, and industry. In this guide,
Business Setup
How to Apply for a Business Line of Credit in Canada
Running a business in Canada means dealing with ups and downs in cash flow. Sometimes you have big sales. Other times, you face unexpected expenses. That’s where a business line of credit comes in. A
Audit
CRA Audit Process in Canada - What to Expect and How to Prepare
Many people living in Canada think that a CRA audit can be stressful. Usually, when a person hears the word audit, it comes with a picture of long paperwork, frequent meetings, and fear of making mist
Business Setup
Best Neighbourhoods in Toronto to Open a New Business in 2026
Planning to open a new business in Toronto in 2026? You’re not alone. Small enterprises, side hustles, and creative storefronts are breathing new life into Canada’s largest city. But success isn’t jus
Business Setup
How to Start an Airbnb Business in Canada (2026)
Are you thinking of exploring the Airbnb market in Canada? You are at the right place. It's a short-term rental market that can be a rewarding opportunity. But only if you do it in the right way. With
Accounting
Generally Accepted Accounting Principles (GAAP) in Ontario, Canada
Introduction GAAP stands for Generally Accepted Accounting Principles. It is often referred to as a language of business. It gives you a framework and structure for financial reporting for your busine
Business Setup
Best Business to Start in Toronto (2026)
Are you thinking about starting a business in Toronto? Sounds like a great idea, especially in Toronto, one of Canada’s top cities for entrepreneurs. The strong economy and friendly neighborhoods give
Business Setup
How to Start a Small Business in Ontario
The idea of starting a business can be exciting. However, it can be challenging to know where to begin. Starting a small business in Ontario is one of the best choices in your life. Ontario is a good
Business Setup
How to Start a Car Dealership in Canada (2026)
Dreaming of owning your own car dealership? You can start a car dealership in Canada. It's an exciting and profitable business if you do it in the right way. In Canada, there is a large Automotive mar
Business Setup
How to Convert Sole Proprietorship to Corporation in Ontario
Do you want to start a business as a sole proprietor? It is one of the common ways many entrepreneurs start their business journey in Ontario. It is a quick and affordable process. It requires minimal
Accounting
How to Track Business Expenses for Tax in Canada
Managing your money in a running business is one of the important parts. Most probably, you know how much we were spending. But the question is, do you exactly know what you are spending on? Whether y
Business Setup
How to Start a Restaurant in Canada
Opening a restaurant is a dream for many, but it comes with a significant amount of planning and legal requirements, especially in Canada. Whether you want to start a small café, a fine dining restaur
Business Setup
How to Register a Holding Company in Canada
Do you want to protect your money and grow your business in Canada? A great way to do this is to register a Holding Company. A holding company can help you save on taxes, keep your assets safe, and ma
Other
What is a NUANS Report and Why You Need One to Register a Business in Canada
If you're planning to start a business in Canada, there's one important step you can’t skip: getting a NUANS name report . This simple but essential document helps ensure your business name is unique
Other
Types of Business Loans Available in Canada in 2026
Finding the right funding can make or break a business, especially in 2026. With rising costs, economic shifts, and fast-changing digital markets, Canadian entrepreneurs want flexibility more than eve
Other
What is a Business Loan in Canada and How to Qualify for One in 2026
Planning to start a business in Canada or scale an existing business in 2026? Getting the right financing can make all the difference, especially in today's economy, when high operating costs, digital
Compliance
What is CRA Clearance Certificate and How to Apply
When someone passes away, when a company shuts down, or when a person leaves Canada permanently, certain tax responsibilities must be completed. In each of these cases, there is a legal and financial
Tax
How Much Tax Consultant Cost in Mississauga
Tax season in Canada can feel overwhelming. Between gathering tax slips, tracking expenses, and meeting CRA deadlines, it’s easy to feel lost. That’s why many people turn to tax consultants. But one q
Tax
How to File Taxes After Tax Deadline in Ontario
In Ontario, the tax filing deadline for most individuals is April 30 every year. For the 2024 tax year, the due date was April 30, 2025. If you missed that date, you’re not alone. Thousands of Canadia
Business Setup
How to Register a Franchise Business in Canada: Legal and Financial Considerations
Many business owners look to expand their brand beyond the borders. Canada often becomes their first choice. But expanding your franchise business in Canada comes with its own process. It’s not just l
Corporate Tax
Everything You Should Know About the Digital Services Tax (DST) in Canada
The Digital Services Tax Act officially came into force on June 28, 2024. This new law brings in the Digital Services Tax (DST) in Canada. However, Canada has officially cancelled the Digital Services
Business Setup
LLC in Canada: Alternatives & How to Register One
Many people think about starting an LLC in Canada. But there’s something important to know. LLCs, or Limited Liability Companies, do not exist in Canada . The U.S. has LLCs, but Canada uses a differen
Business Setup
How to Start a Cleaning Business in Ontario - Complete Guide for 2026
The cleaning business in Canada is growing day by day. More people want clean spaces to stay safe and keep their businesses running. With germs spreading fast, cleaning is more important than ever. Cl
Business Setup
How to Become a Travel Agent in Canada: A Step-by-Step Guide by Bestax
Working as a travel agent is a great career for anyone who’s organized and loves helping people. Travel agents get to share their passion for travel while planning amazing trips for their clients. If
Trust Setup
Family Trusts in Canada: Benefits, Setup Guide & Tax Advantages
Managing wealth and securing your family’s future can be tricky. Starting a family trust in Canada is one way to protect assets, save on taxes, and ensure your money stays within the family. But what
Business Setup
Top 10 Profitable Business Ideas In Canada in 2026
According to Cleanlist , 39,828 new businesses opened in Canada in January 2025. That’s a 74.6% jump from December 2024 and a massive 185.7% increase compared to January 2024. In short, Canada is full
Corporate Tax
What Are The Top Canada Tax Changes in 2025?
Big changes are coming to Canada’s tax system in 2025. If you run a business, invest, or even just file a personal tax return, you will want to know what’s changing. In a Hurry to Know the Big Canada
Compliance
Top 10 Benefits of Hiring a Payroll Compliance Practitioner No One Will Tell You
Managing payroll can be challenging for any business. It requires attention to detail, knowledge of regulations, and consistent updates. For businesses in Canada, staying compliant with payroll regula
Business Setup
How to Register Business Name & Get License in Ontario 2026
Just like mitochondria is the powerhouse of the cell, Ontario is the powerhouse of Canada’s economy contributing nearly 38% of the national GDP. With a booming economy valued at $887.7 billion in 2024
Business Setup
How to Become a Real Estate Agent in Canada - 10 Pro Tips by Bestax
The real estate industry in Canada is growing steadily. Between 2022 and 2031, there are expected to be 54,000 new job openings for real estate agents and salespersons. These opportunities come from b
Business Setup
How to Register a Business in BC, Canada? Ultimate Guide to Business Registration and Licenses
BC is a province full of opportunities for entrepreneurs. Nestled on Canada’s west coast, BC boasts a vibrant economy, diverse culture, and stunning landscapes. It’s no wonder many are eager to learn
Accounting
A Complete Guide to Income Statements: Examples, Formats, and Preparation Tips
Imagine knowing exactly where your money is going and what’s driving your profits. That’s the power of an income statement! Let’s break it down together and make it simple to understand. Keep reading
Accounting
How to Prepare Bank Reconciliation Statement? A Step-by-Step Guide for Accountants
Keeping your business finances in order can be a headache, especially when your bank statement and accounting records don’t match. This is where a Bank Reconciliation Statement becomes your best frien
Tax
Small Business Tax Deductions Explained - 10 Smart Tax Strategies to Maximize Your Savings
Running a small business is rewarding, but managing taxes can be a headache sometimes. Fortunately, we are here to guide you on how to reduce your taxable income, lower your tax bill, and free up reso
Corporate Tax
Corporate Tax Rate in Canada: A Guide to Tax Brackets, Credits, and Reduced Rates
Taxes are payments that individuals and businesses must make to the government. The taxes then fund public services, reduce income inequality, and influence how people and companies spend and invest.
Accounting
Accounting Jobs in Canada - Salary, Skills, and Job Opportunities for CPAs and CMAs
Accounting jobs in Canada are in high demand, and the industry continues to grow steadily. Every year, businesses must complete essential tasks like bookkeeping and auditing , as required by law . Thi
Business Setup
Complete Guide for Starting a Business in Ontario
Starting a business in Ontario or anywhere in Canada can feel like an exciting yet challenging journey, but you’re not alone! In August 2024 alone, 14,104 new businesses were registered in Canada, a s
Accounting
Canadian Accounting Software Comparison - QuickBooks, Sage, and SAP
Managing your business finances shouldn’t feel like navigating a maze blindfolded. Whether you're a startup, a growing business, or an established company, choosing the right Canadian accounting softw
Accounting
How to Find the Best Tax Accountant in Toronto: A Guide for Business Owners
Are you searching for the perfect tax accountant but not sure where to start? Don’t worry; we’re here to help! A tax accountant can save you time, money, and stress during tax season and beyond. Wheth
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