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Compilation vs Review vs Audit: A Guide to Calgary Financial Statement Types
Not sure whether your Calgary business needs a compilation, review, or audit? Learn the key differences, costs, and when to choose each financial statement type. Sahil & Mehar Accountants & Consultants break down these services to help you meet compliance, satisfy stakeholders, and make the right choice for your business.
Sahilpreet
3 hours ago9 min read
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CRA Service Outage Summer 2025: How Calgary Taxpayers Can Prepare
The Canada Revenue Agency will temporarily shut down many of its online services from August 29 to September 3, 2025, for a major data centre migration. This planned CRA service interruption will affect taxpayers and businesses across Calgary. Learn which services will be down, how to plan ahead, and how Sahil & Mehar Accountants can help you stay on track before, during, and after the outage.
Sahilpreet
5 hours ago11 min read
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Retirement Planning and Saving Strategies for Canadians in Their 40s
As a Calgary professional in your 40s, planning for retirement means balancing RRSPs, TFSAs, CPP, and more while managing your business and family. Discover tax-efficient strategies—from maximizing contributions to choosing between dividends vs salary—to secure a comfortable retirement in Canada. Our Calgary accountants guide you through inflation challenges, investment risks, and opportunities unique to mid-career entrepreneurs and individuals.
Sahilpreet
Jun 2522 min read
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How Passive Income Can Affect Your Small Business in Canada: Benefits, Risks, and Tax Implications
Discover how passive income can impact your small business in Calgary. From rental income and dividends to investment strategies, learn how to grow your business while avoiding tax pitfalls. Sahil & Meher Accountants and Consultants specialize in helping Calgary entrepreneurs manage passive income, reduce taxes, and build long-term financial success. Find out how passive income can support your business growth and stability in the Alberta economy.
Sahilpreet
Jun 2515 min read
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What Is a Compilation Report? A Clear Guide for Small Business Owners and Startups
Need professional financial statements but don’t require a full audit? A Compilation Report offers small business owners and startups a cost-effective solution. Learn what it is, when to use one, and how a CPA can help under CSRS 4200.
Sahilpreet
Jun 255 min read
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Tax Planning Strategies for Calgary Entrepreneurs: RRSPs, TFSA & Dividend Decisions
Smart tax planning is essential for Calgary entrepreneurs. This guide explains how to strategically use RRSPs, TFSAs, and salary vs. dividend choices to lower your tax bill, maximize retirement savings, and build long-term financial strength. Whether you're incorporated or self-employed, these strategies can help you make the most of your income—legally and effectively.
Sahilpreet
Jun 2417 min read
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Why Calgary Businesses Are Facing More CRA Audits in 2025 (and How to Prepare)
Calgary businesses are under unprecedented scrutiny from the Canada Revenue Agency (CRA) in 2025. This comprehensive guide explains why CRA audits are rising – from a nationwide crackdown on unreported income, real estate flips, and cash sales to audits of COVID-19 relief claims – and how to prepare. Learn about the CRA’s new high-tech enforcement tactics and get expert tips to ensure your company’s books are audit-ready and compliant.
Sahilpreet
Jun 2413 min read
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Small Business Accounting in Calgary (2025): What You Need to Know to Stay Profitable
Calgary small businesses face rising costs, CRA audits, and tighter cash flow in 2025. Learn how to protect your business with expert tax planning, bookkeeping, and accounting strategies from Sahil & Meher Accountants and Consultants.
Sahilpreet
Jun 136 min read
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Canada to Meet 2% NATO Defence Spending Target: What It Means & How It Will Happen
Canada will meet NATO’s 2% defence spending target in 2025. Learn how Ottawa plans to fund the military boost, Carney’s role, and how new defence investments will impact Canadians, small businesses, and the economy.
Sahilpreet
Jun 135 min read
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Inflation in Canada 2025: How It’s Impacting You — And What You Can Do About It
Inflation in Canada is still squeezing businesses and households in 2025. Learn how rising costs, government policy, and Bank of Canada interest rates are impacting Canadians — and discover actionable financial strategies to protect your wallet, reduce debt, and safeguard your small business from inflation’s lasting effects.
Sahilpreet
Jun 136 min read
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5 Powerful Ways to Invest Your Tax Refund in 2025 (That Actually Build Wealth Long-Term)
Wondering what to do with your 2025 tax refund? Instead of spending it, turn your refund into long-term wealth. Discover 5 powerful strategies to invest your tax refund in Canada — from paying off high-interest debt, boosting RRSP and TFSA contributions, to building your emergency fund and growing your investments.
Sahilpreet
Jun 135 min read
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2025 Tax Deadlines and Tips for Self‑Employed Filers in Canada
Self-employed Canadians face unique 2025 tax deadlines, with returns due June 15 (June 16 in 2025), but payments still due April 30. Learn how to organize income, claim deductions, avoid costly mistakes, and navigate CRA rules. This in-depth guide from Sahil & Meher Accountants and Consultants helps freelancers, contractors, and small business owners file accurately and minimize taxes.
Sahilpreet
Jun 1224 min read
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Smart Financial Management for Alberta Restaurants: Accounting Strategies to Thrive in 2025
Alberta's restaurant scene is vibrant, competitive, and uniquely challenging. From navigating provincial tax rules to optimizing food costs and payroll, restaurant owners need a firm financial strategy to survive and thrive. This in-depth blog offers practical accounting insights tailored specifically to Alberta's restaurant industry in 2025. Discover how to manage cash flow, stay audit-ready, and boost profitability with proven strategies backed by local expertise.
Sahilpreet
Jun 44 min read
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Navigating the Future: Key Accounting Trends Shaping 2025
As 2025 unfolds, the accounting profession is undergoing a significant transformation driven by automation, sustainability reporting, cybersecurity, and evolving client demands. In this in-depth blog, we explore ten pivotal trends reshaping the CPA landscape—from AI-powered workflows to ESG integration and remote advisory services. Whether you're a seasoned accountant or a growing firm in Canada, understanding these changes is crucial to staying competitive, compliant, and cl
Sahilpreet
Jun 46 min read
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Surviving and Thriving: What Canada’s 2025 Tax Changes Mean for Trucking Companies
Surviving and Thriving: What Canada’s 2025 Tax Changes Mean for Trucking Companies
Sahilpreet
Jun 33 min read
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Navigating Change: What Canada's 2025 Federal Election Means for Small Businesses
Navigating Change: What Canada's 2025 Federal Election Means for Small Businesses
Sahilpreet
Jun 32 min read
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Canada’s 2025 Federal Tax Cut: What It Means for You
On May 27, 2025, the Canadian government announced a key tax cut reducing the lowest personal income tax rate from 15% to 14%. This change, aimed at supporting middle-income Canadians, could mean hundreds in savings for individuals and families. In this blog, Sahil & Meher Accountants and Consultants break down what the new tax policy means for you, the broader economic context, and how to plan smartly in light of these changes.
Sahilpreet
Jun 33 min read
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Short-Term Rental Compliance in Alberta: What Landlords Need to Know in 2025
As short-term rental regulations tighten across Alberta, landlords must navigate a complex mix of municipal licensing, CRA compliance, insurance gaps, and tax implications. This blog breaks down the 2025 updates — including what’s happening in Calgary — and outlines the key steps landlords should take now to stay compliant, avoid costly mistakes, and protect their investments. Whether you're running an Airbnb or planning your first STR, this is essential reading.
Sahilpreet
Apr 255 min read
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5 Surprising Canadian Tax Tips You Didn’t Learn in School
In 2025, your side hustle isn’t just supplemental income—it’s a strategic tax planning tool. Whether you’re freelancing, selling online, or creating content, structuring your side gig as a business opens the door to powerful deductions that salaried employees can’t access. From home office write-offs to tech subscriptions and vehicle mileage, learn how to turn everyday business expenses into legitimate tax savings—while staying fully compliant with CRA regulations.
Sahilpreet
Apr 243 min read
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Why Understanding Taxes Should Be a Right, Not a Privilege
Millions of Canadians struggle to understand how taxes impact their finances. As economic pressures rise, tax literacy is no longer optional — it’s essential for financial empowerment and public trust. Here's why Canada must make tax education a national priority.
Sahilpreet
Apr 233 min read
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