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Navigating ITIN Certification Changes: How We Can Help
The IRS’s Individual Taxpayer Identification Number (ITIN) application process has recently become more challenging for Canadian taxpayers. As of September 22, 2023, Service Canada no longer embosses dry seals on certified copies of passports—a change that has led to numerous W-7 applications being rejected by the IRS. This is because the embossed seal was a […]
Accounting Support for Your Business
November 25, 2024Tailored Accounting Services to Support Your Business Bookkeeping and accounting records are essential to a business. When your accounting processes are going well, the financial information is accurate, up-to-date and helps you make informed business and tax planning decisions. If, however, bookkeeping tasks take a backseat and are updated less frequently, then the catch-up work […]
Succession Planning in Family Enterprises
Strategies, Best Practices, and Challenges in Passing Leadership Roles to the Next Generation
November 19, 2024Succession planning is a crucial process for family enterprises aiming to ensure continuity and preserve the long-term sustainability of the business. Transitioning leadership to the next generation is not just about passing the baton; it involves careful planning, strategic decision-making, and overcoming unique challenges that family businesses often face. The Importance of Succession Planning The […]
Role of External Advisors in Succession Planning: The Benefits of Involving External Advisors in the Succession Planning Process
November 6, 2024Succession planning is essential for the continuity and longevity of multi-generational family businesses. The intricate dynamics of family relationships, coupled with the complexities of business management, necessitate the involvement of external advisors. These advisors, including consultants, mentors, boards, lawyers, and accountants, bring expertise and an objective perspective crucial for navigating the succession process. The Value […]