Salaries and Taxes for Your Small Business – Some Planning Required
Often, as business owners, we don’t want that huge tax bill at the end of the tax season. Some decide they want to just pay themselves a salary so they can pay taxes as a … Read more
One Big Reason to Ensure Your Financials are Up To Date
Many business owners have told me about their challenges with keeping up with their bookkeeping, about constantly being “behind”. No matter if you are a sole proprietor or own a corporation, if you don’t have … Read more
Struggling To Pay That Tax Bill Every Year?
Quite often, as sole proprietors, we have the tendency to want to spend what we bring into our accounts. Yes, even someone as disciplined as myself still sees the cash in the account and the … Read more
Link to Canadian Tax Packages for All Years
Each package includes the guide, the return, related schedules, and the provincial or territorial schedules, information, and forms (except Quebec). Click here to access this resource on the government of Canada website.
Bookkeepers and Accountants Are Not the Same
Your successful small business needs both a bookkeeper and an accountant. And there’s a reason why they won’t be the same person. While some skilled bookkeepers and accountants may, in fact, be capable of doing … Read more
Are You Unknowingly Part Of The Underground Economy?
“Can’t I just pay my employees with cash?” We still hear some version of this question now and then. Moonlighting or “working under the table” is the basis for the underground economy in Canada. According … Read more
Don’t Mix Business with Personal
Here are 3 reasons why keeping your personal and business finances separate will also help keep you and your business healthy. Finding, tracking, posting, filing, and reconciling your bank, credit card, and PayPal accounts – … Read more
Just Because You Know How to Do Your Own Bookkeeping…
Are you still insisting that you do your own bookkeeping because you know how? It is imperative that you maintain a current set of books. Canada Revenue Agency can audit you at any time with … Read more