Tax News

5 Overlooked Business Tax Deductions

ON November 22, 2016

Running a small business can be particularly stressful during tax season. On top of tracking sales, managing your employees, and keeping your clients happy, you have to sort through a mountain of paper, numbers, and forms. With so much on your plate, there’s a chance you can miss out on some possible tax deductions that […]

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Tax Tips & Traps – Winter 2016

ON November 18, 2016

In the summer of 2016, CRA commenced a project to examine taxpayers holding expensive properties in Vancouver where only low amounts of income were reported. The goal of the project was to identify unreported worldwide income, property “flipping”, underreporting of capital gains on sales, and underreporting GST on sales of new homes […]

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Tips for Maximizing Your Charitable Donation Tax Credits

ON November 8, 2016

Canadians are a giving lot, opening our wallets and our hearts whenever we can. And why not? Donating to charity is not only a great way to get more involved in the community, but also helps us feel terrific. And if that wasn’t incentive enough, your donation can also generate a nifty tax break. Planning […]

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Bookkeeping Basics for New Businesses

ON October 25, 2016

Poor bookkeeping is one of the main reasons why many startup businesses don’t go the distance. Maintaining an accurate record of the books provides valuable insight into your current financial situation. It will also help you keep up with the needs of your organization and capitalize on any financial benefits. Proper bookkeeping is not only […]

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What to look for when hiring a bookkeeper

ON October 17, 2016

Why Hire a Professional Bookkeeper? You’re a successful business owner, brimming with talent, capable of wearing many hats. But if you lack important bookkeeping skills, your business could be missing out on some huge financial opportunities. So, before you hire someone to take your company to the next level, you need to make sure you […]

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Tax Tips & Traps – Fall 2016

ON October 7, 2016

Tax Tips Traps Pdf Format In this edition: Tax Ticklers Some Quick Points to Consider Canada Child Benefit Get Yours Today! Selling Your Business Do It Before 2017? CRA Instalment Notices Do I Have to Pay Them? Looming Life Insurance Changes Changes Hit in 2017 Losing The Small Business Deduction Intercompany Payments Examples of Corporations Potentially […]

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When is it time to hire an accountant?

ON October 3, 2016

Entrepreneurs are multi-taskers, taking a DIY approach whenever they can. Why pay for something when you can complete the task yourself? So, it makes sense that many small business owners are reluctant to hire an accountant. But if spending time on your accounting is taking you away from working on your business, you’ll probably want […]

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Tax Advice for Freelancers

ON September 21, 2016

Who wouldn’t want to be a freelancer? You get to work where you want, when you want, and how little or much you want. Sounds great! But, keep in mind, all that freedom comes at a cost. With no payroll deducting your income tax, your chances of receiving a refund are pretty much next to […]

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5 Reasons You Should Outsource Your Bookkeeping

ON August 24, 2016

Are you interested in benefits of outsourcing bookkeeping? As a small business owner, you have more than enough on your plate. Handling the company website, creating marketing strategies, managing employees, the list goes on and on. And with so many tasks taking up your time, many business owners simply don’t have the luxury to become […]

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5 Tax Tips for the Small Business Owner

ON August 15, 2016

The 2016 tax season has come and gone. And like many, you are probably enjoying the summer months, with taxes being the last thing on your mind. However, just because tax season isn’t for some time, it shouldn’t stop you from preparing for next year—especially if you are a time-crunched small business owner. Here are […]

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