Lorena Boda CPA Professional Corporation

10/14/2026

A lot of growing businesses keep the same accounting setup they had in year one, long after that setup stopped fitting. The books still close. The tax return still gets filed. But the owner increasingly can’t answer basic questions about their own business: how much cash they’ll have in six weeks, whether a hiring decision is affordable, why margin dropped last quarter without waiting for someone else to pull a report.

https://www.lorenabodacpa.com/corporate-accounting-services-what-growing-businesses-should-expect/

10/09/2026

What Does a Chartered Professional Accountant Do for Businesses in Canada?
The Chartered Professional Accountant designation gets explained often enough in the abstract education requirements, exam structure, professional standards that the practical question tends to get skipped: what does a CPA actually do for a business, day to day, beyond what’s listed on an our services page?

https://www.lorenabodacpa.com/what-does-a-chartered-professional-accountant-do-for-businesses-in-canada/

10/06/2026

Canada has no inheritance tax. Business owners hear that fact and, understandably, relax about it. What they often don’t realize is that death still triggers something with a similar effect: a deemed disposition of all capital property, including corporate shares, at fair market value meaning the growth in your company’s value since you started it can become a taxable capital gain in the year you die, whether or not anyone actually sells anything.

Canada has no inheritance tax. Business owners hear that fact and, understandably, relax about it. What they often don’t realize is that death still triggers something with a similar effect: a deemed disposition of all capital property, including corporate shares, at fair market value meaning the ...

10/01/2026

The Canadian tax system was built on the concept of integration, a fundamental concept, which us, accountants, learn about very early on in our careers. And yet, business owners often ask us whether they should pay themselves a salary or a dividend to pay lower taxes. Integration tells us that either scenario should arrive at the same result, although not perfect in practice.

In some cases, I run multiple scenarios to save a bit in taxes, yes. But the more critical decision should be more about retirement planning (i.e. whether CPP and RRSP room are important) and cash flows. For other business owners, having a discussion about smoothing out the earnings between a highly profitable year and a lower profitable year for two consecutive years can significantly save them on taxes.

Mid-year tax planning strategies for Canadian incorporated businesses SBD limits, salary vs. dividends, capital purchases, and instalment accuracy. Talk to a Mississauga CPA.

09/29/2026

A new client walked in this morning. I came highly recommended from another client. We sit down, we explore tax planning ideas and agree on next steps. He prepaid in advance for the project I just got engaged! Not because I asked for that, but because he actually insisted.

Cheers to a happy Tuesday!

09/24/2026

"Set up a holding company and save on taxes” is one of the most repeated pieces of advice among Canadian business owners and one of the most incomplete. A holding company can be genuinely useful. It does not, by itself, save anyone a dollar in tax. What it actually does is change WHEN tax is paid and WHO controls that timing and for some businesses, that change isn’t worth the added cost and complexity.

A holding company defers tax, it doesn't eliminate it. What Holdcos actually protect, what they cost, and when they're not worth setting up.

09/11/2026

Non-Capital Losses vs. Capital Losses — Why the Difference Matters for Ontario Corporations

For Ontario corporations, understanding the distinction between non-capital losses and net capital losses is an important part of tax planning.

🔹 Non-capital losses generally arise from operating expenses and business losses. They can generally be carried back 3 years and forward 20 years to offset taxable income, subject to the applicable rules.

🔹 Net capital losses arise from capital losses and can generally only be used against taxable capital gains. They may be carried back 3 years and forward indefinitely, subject to the rules governing their utilization.

Proper planning around the timing of transactions, acquisitions, reorganizations and loss utilization can help corporations maximize the value of available losses.

09/09/2026

As the fiscal year comes to a close, Canadian businesses have an excellent opportunity to review their financial position and implement strategies that can reduce tax liabilities while strengthening overall financial performance. Year-end tax planning is much more than preparing for filing deadlines—it is a proactive process that helps businesses maximize deductions, improve cash flow, and ensure compliance with current tax regulations.

Prepare your business for tax season with this complete Year-End Corporate Tax Planning Checklist for Canadian Businesses. Learn strategies to maximize deductions, improve compliance, and reduce tax liability with expert guidance from Lorena Boda CPA.

09/02/2026

Growing a business in today’s competitive Canadian marketplace requires more than strong sales and quality products. Companies must continually adapt to changing economic conditions, evolving tax regulations, technological advancements, and shifting customer expectations. Strategic planning plays a crucial role in ensuring businesses remain profitable while preparing for future opportunities.

Discover how corporate advisory and restructuring services help Canadian businesses improve efficiency, manage risk, optimize taxes, and achieve long-term strategic growth. Learn when restructuring is the right move for your business.

09/01/2026

I asked ChatGPT to create a brief social media post about corporate reorganizations involving amalgamations and wind ups and here's the answer I received - see below. And here's the difference between a tax professional with over 15 years of experience and an AI generated experience, a difference from the sky to the land, or at least for the time being until the AI becomes more advanced. Points 1, 2 and 4 below say exactly the same thing: simplify the corporate structure. Why say it in 3 bullet points when 1 is sufficient? Part of the warning below is technically incorrect: there is no tax election applicable for the actual legal transaction of amalgamating or dissolving a company. What I would add, that would be significantly more valuable would be: amalgamating and winding up may be an effective tax planning tool to achieve certain business objectives, such as eliminating inter-company loans or maximizing the use of corporate tax attributes. The warning that I would add is to be wary of consolidating creditor risk if combining multiple entities.

ChatGPT post:
Corporate reorganizations involving amalgamations and corporate wind-ups can be effective tax-planning tools when simplifying or restructuring a corporate group.

Depending on the circumstances, these transactions may help:
• Consolidate corporations and streamline corporate structures
• Eliminate redundant entities and administrative costs
• Facilitate the movement or consolidation of assets and liabilities
• Simplify intercorporate relationships and transactions
• Potentially achieve tax-deferred treatment where the applicable provisions of the Income Tax Act are satisfied

⚠️ The tax consequences depend heavily on the structure, ownership, assets, liabilities and applicable tax elections. Proper planning is essential before implementing an amalgamation or wind-up.