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Navigating Troubled Waters: Avoiding Retailer Liquidation 

Navigating Troubled Waters: Avoiding Retailer Liquidation  Despite the end of the pandemic, several resilient retail chains and franchises found themselves facing ongoing challenges. Rather than making resolutions, this period of the retail apocalypse brought forth an entirely new set of issues, while also amplifying existing ones. We saw shifts in consumer preferences and purchasing ...

Congrats to our May 2023 CFE writers!

“Life is a journey with problems to solve and lessons to learn but most of all. Experiences to enjoy.” Congratulations to all of our team members who passed the 2023 Common Final Exam (CFE) and moved one step closer with their career aspirations to become certified professional accountants. We extend our congratulations to this ...

Zeifmans recognized as a Top 10 Accounting Services Provider in Canada!

We are pleased to announce that Zeifmans LLP was featured in Business Management Review Magazine’s 2023 Top 10 Accounting Services Providers in Canada! This acknowledgement recognizes Zeifmans’ track record of providing insightful, personalized advice, supporting over 11,000 clients and their generations to meet their financial and business goals. It also recognizes our guidance of ...

Pycap and Zeifmans partner up to support international start-ups entering Canada

Zeifmans is excited to announce its newest partnership with Pycap, an innovative Venture Capital Firm and Canada’s Leading Startup Visa (SUV) incubator. The firm, which is registered with the Federal Government as a Designated Organization, helps promising international start-ups succeed in Canada with its game-changing Startup Visa Program. As a top 10-rated Greater Toronto ...

Taking Advantage of SR&ED in the Healthcare Start-Up Space 

Health care businesses of all sizes and specialties can benefit from Canada’s Scientific Research and Experimental Development (SR&ED) tax credit program, though many are deterred from applying due to the program’s complex application process and the many tax regulations governing Canada’s medical community. Health care businesses – such as clinics, bio-tech companies and research ...

2023 Budget Tightens Tax rules while Investing in Clean Tech

The 2023 Federal Budget, presented by Finance Minister Chrystia Freeland on March 28, forecasts a $43 billion dollar deficit, with both spending cuts and tax increases. High income individuals may be impacted by changes to the Alternative Minimum Tax rules while small business owners may be interested in changes to rules allowing for intergenerational ...

The Supreme Court Rules in Favour of the Taxpayer in an FBAR Penalty Case

On February 28, 2023, the U.S. Supreme Court released a 5-4 decision against the IRS’s position on the imposition of nonwillful violations of timely Foreign Bank Account Reporting (“FBAR”) reporting for U.S. citizens.  Interestingly, the decision crossed the perceived Right Wing/Left Wing split of the Court as Justice Barret authored the dissenting opinion which ...