--- title: Toro Accounting Blog | Business description: Business | Toro Accounting blog for accounting and tax topics in Canada, --- [Skip to content](https://toroaccounting.ca/blog/tag/business#main-content) - [English](https://toroaccounting.ca/blog/tag/business) - [Spanish](https://toroaccounting.ca/es/blog/tag/negocio) English Show submenu for translations [![Toro Financial Inc. dba Toro Accounting](https://toroaccounting.ca/hs-fs/hubfs/Logo-Square%20(500%20x%20200%20px)-1.png?width=450&height=150&name=Logo-Square%20(500%20x%20200%20px)-1.png)](https://toroaccounting.ca/en?hsLang=en) - [Home](https://toroaccounting.ca/en/) - [Taxes](https://toroaccounting.ca/en/tax-filing-services) Show submenu for Taxes - [1st Tax Filing](https://toroaccounting.ca/en/steps-for-filing-t1) - [Bookkeeping](https://toroaccounting.ca/en/bookkeeping) - [Business Plans](https://toroaccounting.ca/en/create-my-business-plan) - [Blog](https://toroaccounting.ca/blog) Open main navigation Close main navigation - [Home](https://toroaccounting.ca/en/) - [Taxes](https://toroaccounting.ca/en/tax-filing-services) Show submenu for Taxes - [1st Tax Filing](https://toroaccounting.ca/en/steps-for-filing-t1) - [Bookkeeping](https://toroaccounting.ca/en/bookkeeping) - [Business Plans](https://toroaccounting.ca/en/create-my-business-plan) - [Blog](https://toroaccounting.ca/blog) - - [English](https://toroaccounting.ca/blog/tag/business) - [Spanish](https://toroaccounting.ca/es/blog/tag/negocio) English Show submenu for translations - [Book a Free Consultation](https://toroaccounting.ca/en/book-consultation) [Book a Free Consultation](https://toroaccounting.ca/en/book-consultation?hsLang=en) # The Blog Discover tax tips for small business owners and self-employed individuals in Canada. From claiming expenses to understanding tax residency, find valuable insights to optimize your business finances. Search for any topic on our blog - There are no suggestions because the search field is empty. [![](https://toroaccounting.ca/hubfs/Closing.jpg)](https://toroaccounting.ca/blog/closing-corporation) [Corporation](https://toroaccounting.ca/blog/tag/corporation), [CRA](https://toroaccounting.ca/blog/tag/cra), [Business](https://toroaccounting.ca/blog/tag/business) ## [What to Consider Before Closing Your Corporation in Canada](https://toroaccounting.ca/blog/closing-corporation) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) May 12, 2026, 10:37:09 PM Closing a corporation is not as simple as stopping operations, closing the bank account, or no longe... [Read more](https://toroaccounting.ca/blog/closing-corporation) [![](https://toroaccounting.ca/hubfs/Untitled%20design%20(11).png)](https://toroaccounting.ca/blog/es/blog/lp-losses-canada) [CRA](https://toroaccounting.ca/blog/tag/cra), [Business](https://toroaccounting.ca/blog/tag/business) ## [📊 Limited Partnership Losses in Canada](https://toroaccounting.ca/blog/es/blog/lp-losses-canada) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Feb 22, 2026, 11:02:02 PM What They Are, How They’re Calculated, and Why They’re Different If you invested in a limited partne... [Read more](https://toroaccounting.ca/blog/es/blog/lp-losses-canada) [![](https://toroaccounting.ca/hubfs/Untitled%20design%20(10).png)](https://toroaccounting.ca/blog/es/blog/non-capital-loss-canada) [CRA](https://toroaccounting.ca/blog/tag/cra), [Business](https://toroaccounting.ca/blog/tag/business) ## [📉 Non-Capital Losses in Canada](https://toroaccounting.ca/blog/es/blog/non-capital-loss-canada) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Feb 22, 2026, 7:09:13 PM How They Work and How They Can Reduce Your Taxes In Canadian tax planning, one of the most powerful ... [Read more](https://toroaccounting.ca/blog/es/blog/non-capital-loss-canada) [![](https://toroaccounting.ca/hubfs/Untitled%20design%20(8).png)](https://toroaccounting.ca/blog/es/blog/allowable-business-loss-canada) [CRA](https://toroaccounting.ca/blog/tag/cra), [Deductions](https://toroaccounting.ca/blog/tag/deductions), [Business](https://toroaccounting.ca/blog/tag/business) ## [📉 Allowable Business Investment Loss (ABIL) in Canada](https://toroaccounting.ca/blog/es/blog/allowable-business-loss-canada) [Camilo Toro](https://toroaccounting.ca/blog/author/camilo-toro) Feb 22, 2026, 6:32:10 PM How It Works and How It Can Reduce Your Taxes Investing in small businesses can offer significant op... [Read more](https://toroaccounting.ca/blog/es/blog/allowable-business-loss-canada) [facebook-f icon](https://www.facebook.com/profile.php?id=100092941966688) [instagram icon](https://www.instagram.com/toroaccounting/) [X Twitter icon](https://twitter.com/Toro_Accounting) [Follow us on Facebook](https://wa.me/16474591013) - [Home](https://toroaccounting.ca/en/) - [Taxes](https://toroaccounting.ca/en/tax-filing-services) - [Bookkeeping](https://toroaccounting.ca/en/bookkeeping) - [Business Plans](https://toroaccounting.ca/en/create-my-business-plan) - [Privacy](https://toroaccounting.ca/en/privacy-policy) - [Blog](https://toroaccounting.ca/blog)   ## **Download Our** **Free Small** **Business Guide**   [Download](https://toroaccounting.ca/hubfs/Small%20Business%20Guide%20(English)%20Compressed.pdf?hsLang=en)       ## **About Us** At Toro Accounting, we specialize in offering custom bookkeeping and accounting services for small businesses and entrepreneurs in Canada. Based in Toronto, our goal is to simplify your financial obligations so you can focus on what really matters: growing your business. ## **Contact Us** Do you have questions or need help with your business finances? We're here to help! Get in touch with us through the following channels: 📧 **Email:** [office@toroaccounting.ca](mailto:office@toroaccounting.ca) 📞 **Phone:** +1 (647) 947-3715  ## Worksheets: [Sole Prop or Self Employed Bookkeeping Worksheet](https://toroaccounting.ca/hubfs/Forms/TOROFINANCIAL-Sole-P-Bookkeeping.xlsx?hsLang=en) [Corporate Tax Worksheet](https://toroaccounting.ca/hubfs/Forms/TOROFINANCIAL-Corporate-Bookkeeping.xlsx?hsLang=en) ## Links: [Authorize Representative (Personal)](https://toroaccounting.ca/en/authorize-representative?hsLang=en) [Authorize Representative (Business)](https://toroaccounting.ca/blog/authorize-toro-financial-business-cra-account) ## Forms: [Personal Tax Forms](https://toroaccounting.ca/en/personal-tax-form?hsLang=en) [Business Plan Forms](https://toroaccounting.ca/en/create-my-business-plan?hsLang=en) [Self-Employed Tax Forms](https://toroaccounting.ca/en/sole-prop-worksheet?hsLang=en) [Corporate Tax Forms](https://toroaccounting.ca/en/corporate-tax-return-worksheet?hsLang=en) [Corporation Registration Forms](https://toroaccounting.ca/en/registration-corporation?hsLang=en) [Employment Expenses Forms (T777)](https://toroaccounting.ca/en/employment-expenses-t777?hsLang=en) [Moving expenses form](https://toroaccounting.ca/moving-expenses-claim-form-t1-m?hsLang=en) --- [![Toro Financial Inc. dba Toro Accounting](https://toroaccounting.ca/hs-fs/hubfs/Logo-Square%20(500%20x%20200%20px)-1.png?width=450&height=150&name=Logo-Square%20(500%20x%20200%20px)-1.png "Toro Financial Inc. dba Toro Accounting")](https://torofinancial.ca?hsLang=en) 895 Don Mills Road, Two Morneau Shepell Centre, Suite 900,  Toronto, ON M3C 3R6 Copyright © 2025, Toro Financial Inc.       [Contact Us ](https://toroaccounting.ca/en/contact-us?hsLang=en)                [Privacy Policy](https://toroaccounting.ca/en/privacy-policy?hsLang=en)