r/CanadaBusiness

I'm an accountant who works with Canadian small businesses, and I see the same questions come up all the time around:

• GST/HST
• Bookkeeping
• Payroll
• CRA letters and reviews
• Incorporation vs sole proprietorship
• Corporate tax

Rather than guessing, I thought I'd spend some time answering questions here.

Whether you're just starting a business or you've been running one for years, ask me anything about your bookkeeping, taxes, or CRA requirements. If I know the answer, I'll explain it.

Hopefully this helps a few business owners avoid costly mistakes.

I am a US Citizen and found a Canadian business that I'd like to acquire (and have it be operated by my family member who is a Canadian citizen. ). I have enough assets and collateral to guarantee my loan and the business is profitable with enough cash flows to easily service the loan. What lenders should I talk to ? Canadian small biz lenders say they don't lend to US citizens, and US lenders tell me they can't lend for a non US purchase.

My family member doesn't have enough collateral or downpayment. I am putting the money. They are simply going to run it on salary and some performance equity