Food and hospitality Quick guide
Opening a second location? 5 accounting systems to fix before you do
Before a second location opens, make sure five systems work at the first one. Sales and costs tracked by location.
Life events › Growing a business
Growing a business
Growth adds payroll, locations and equipment, and it raises the questions owners are pitched on: compensation, retained cash, registered savings, key-person and shareholder insurance, and the capital dividend account. The pieces connect, but no single product answers all of them.
How the pieces connect
- Systems before a second location
- Payroll
- Equipment and the 2026 proposals
- Financing
- Salary, dividends and RRSP room
- Corporate-owned insurance
- Scheme warning
Insurance, TFSAs, RRSPs, RESPs and tax planning solve different problems. The goal is not to sell one product as the answer to everything. Each path below shows how the pieces connect for one event, and which guide to read for each piece.
Guides for this path, in reading order
Small business, GST and payroll Quick guide
You paid yourself a salary from your corporation. Did you forget the payroll remittances?
If your corporation pays you a salary, it is an employer. It must open a payroll account and take CPP and income tax off each pay.
CRA updates Tax update
Can Canadian businesses really write off 100% of new equipment? The 2026 proposal explained
Possibly, for many purchases, but it is a proposal, not yet law. On September 15, 2026 the federal government proposed a new rule.
Small business, GST and payroll Quick guide
What goes into a business plan for a commercial loan? 7 parts lenders look for
A plan for a lender needs seven things. A clear description of the business. The owner's background.
Food and hospitality Quick guide
7 numbers every restaurant owner should review before year end
Before year end, look at seven numbers. Sales by channel against the platform reports.
Corporations Quick guide
Salary or dividends? 5 questions to ask before paying yourself from your corporation
It depends on you and the company, not on a rule of thumb. Salary is employment income: it builds RRSP room and CPP, but it needs a payroll account and deductions through the year.
Corporations Quick guide
Life insurance inside a corporation: 5 tax questions owners should understand
A private corporation that receives life insurance proceeds as beneficiary can add the proceeds, minus the policy's adjusted cost basis, to its capital dividend account.
Insurance Quick guide
Someone promised you a tax-free insurance strategy? 6 questions to ask before signing
Ask six things. Where exactly does the tax saving come from, in the Income Tax Act.
What belongs with a lawyer: Leases, financing agreements and shareholders' agreements need a lawyer.
Other life events
Want this worked through for your situation?
Call us or request a callback. We explain the tax side; insurance is arranged by Parminder Singh Oberoi through Punjab Insurance Agency Inc.; legal documents need a lawyer or notary.