RMI LLP - Small Business Accountants Calgary

Corporate tax surprises are almost always avoidable. The most common reason they happen? No tax planning was done. ❎️

If your fiscal year is wrapping up and you haven't done any planning yet, there are still things you can do before it closes:

❇️ Last-minute compensation adjustments
❇️ Eligible expenses before your year-end date
❇️ Catching anything that could trigger CRA questions later

And once that's behind you, set yourself up better for next year. A simple planning conversation early in your fiscal year should cover:

❇️ Salary vs. dividend split
❇️ Corporate structure and passive income rules
❇️ Compensation timing
❇️ Documentation habits throughout the year

One conversation at the right time can save you a lot of money and stress. ✅️

Do you do tax planning every year? 💡

Most people do not get derailed by one big mistake. It is the small things, quietly adding up in the background.

The subscription you forgot to cancel. The service that made sense two years ago and never got reviewed. The task you keep pushing to tomorrow because it is too small to feel urgent. None of it feels like a big problem on a Monday morning.

Small leaks sink great ships. The big things get attention, but it is the small steady drips that go unnoticed until everything feels harder than it should.

What is one small thing you finally cut or fixed that you wish you had caught sooner?

"We will sort out the US side later" is one of the most expensive sentences in cross-border business.

For most companies, later arrives at the first tax filing.

A Canadian business starts selling to US clients. Things are going well. Then tax season comes and the accountant asks: which states did the revenue come from? Has the company crossed the nexus threshold in any of them? Do you have a permanent establishment in the US?

Most owners have never thought about it that way. And now the structure needs to catch up to the business.

The better move is to ask those questions before the revenue starts, not after. That is where our cross-border expertise comes in, and we are happy to help you get there.

Every June, accounting firms across Calgary get the same phone calls.

Business owners with a December year-end suddenly realize their corporate tax filing is due by the end of the month and start calling around hoping someone can squeeze them in. 😅

It happens every year, and we totally get it. Running a business is busy and tax deadlines have a funny way of sneaking up on you.

Here's a simple tip that makes all the difference: Reach out to your accountant in December, right when your tax year closes. That's the best time - your numbers are fresh, accountants aren't yet buried, and you have six whole months to do this properly.

By the time June arrives, it should already be handled. 👌

🤲 Many people know what they want.
✍️ Few write it down.
💭 Even fewer treat it like it's already real.

A dream in your head is just a wish. A goal on paper is a contract with yourself, with your future, with the version of you that refuses to stay stuck. That's what makes it non-negotiable.

If your business operates in both Canada and the US, you have tax obligations in both countries.

How your income is split, where you're required to file, whether your corporate structure is efficient on both sides of the border matters.

At RMI, we specialize in corporate filings, cross-border structuring, and US tax minimization for business owners operating in both countries.

We are here to help you get it right on both sides of the border. 👉 https://buff.ly/bZkjldf

U.S. and Cross-Border Taxation | RMI LLP Calgary Cross-border and US tax services for individuals and businesses on both sides of the border. Calgary-based CPA firm, serving clients across Canada and the US.

Monday reminder 🔔

Positivity doesn’t make the hard stuff disappear, but it can make it feel a little less heavy.

It’s what helps you notice something good, even on a messy day. It reminds you that you’ve handled hard things before, that there’s still strength in you, and that there’s still something ahead worth looking forward to. ✨

Have a great week ahead! 🌞

CARF is almost here - and if you hold crypto, it's worth knowing what's coming. 💱

Canada's Crypto-Asset Reporting Framework is currently working its way through Parliament. If it passes and applies to 2026, exchanges will be required to collect your transaction data - names, account details, trade volumes - with the first reports going to the CRA in 2027. 🔢

What that means practically: if you traded, sold, converted, or staked crypto in 2026, the CRA could have a record of it. You still need to report it yourself on your tax return, but there would be an independent data source they can check it against. ✅️

Capital gains from crypto have always been taxable in Canada. CARF just makes them a lot harder to miss. 🕵️

Self-employed? Your filing deadline is June 15, which is under two weeks.

Before you file, make sure you have:
✅ All income reported (side gigs and platform income included)
✅ Business expenses documented
✅ Home office costs calculated, if applicable
✅ Direct deposit set up through CRA My Account

One reminder that often gets missed: if you owed taxes for 2025, that payment was due April 30. Interest has been accumulating since May 1, so if you haven't paid yet, sooner is better.

Reach out if you have questions! 📞