The tax deadline is fast approaching, and now is the time to make sure you have everything covered for a smooth and easy experience. This blog will highlight the key things to remember as you prepare to file by April 30.
Read MoreWith tax season around the corner, the fear of a potential audit is creeping in for many business owners. That unease can be squashed with just a few steps designed to reduce the chances of being flagged by the CRA. One of those steps is ensuring that your tax return includes a completed Schedule 50.
Read MoreStarting a new business is thrilling, but amidst the excitement, there’s a crucial aspect that requires your added attention: bookkeeping. Proper bookkeeping is not just about tracking numbers; it’s about laying a solid foundation for your business’ financial health and stability. In this guide, we’ll cover the basics of bookkeeping and accounting to help you […]
Read MoreLaunching a new business requires more than just a great idea; it demands meticulous financial planning and strategic decision-making. Whether you’re diving into the world of tech startups, retail, or general services, understanding the financial landscape is crucial for long-term success. Here’s a comprehensive guide to navigating the financial complexities of starting your own business. […]
Read MoreSuccessfully managing your business taxes is vital to ensuring financial success for you and your employees. Just when you think you have it all under control, they go and change the rules again. Here are the top-4 changes to be aware of for your business in 2024: Canada Pension Plan With new maximum pensionable earnings, […]
Read MoreEvery year CRA sends out letters requesting information on a specific line item on tax returns. Unlike prior years, this year CRA is giving advanced warning of what this will be. In an upcoming letter campaign, CRA will be asking for shareholder information on schedule 50 of the corporate income tax return where it is […]
Read MoreThe world as we know has and continued to rapidly change because of COVID-19 and the ongoing political developments such as the elections in the United States (US), the United Kingdom’s (UK) impending exit from the European Union (BREXIT), trade wars between economic superpowers, and climate change, among other global emergencies. COVID-19 being the most […]
Read MoreCEBA – Forgivable Loan If you are a small business owner you are likely aware of the Canadian Emergency Business Account (CEBA) and may have received a loan under this program. This loan program is facilitated by Canadian lending institutions under which an interest-free loan of up to $40,000 is made to a qualifying small […]
Read MoreIn light of Covid-19, many employees have had to work from home for a large portion of the 2020 calendar year. Therefore, there is the possibility for employees to claim a home office deduction in calculating their 2020 personal taxes. Ordinarily, if an employee maintains an office in their home, the employee could deduct certain […]
Read MoreKeeping all staff members employed is one of the biggest preoccupations for companies these days. The combination of labor shortages and COVID-19 makes it clear that we can’t afford to lose our valuable teams. Here are a few reminders of best practices you can implement to keep your colleagues on the job. FOR TEAMS WORKING […]
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