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Tips for Preparing for Potential CRA Audits

Tips for Preparing for Potential CRA Audits

by admin | Mar 9, 2021 | Accountant, Accounting Tips, Bookkeeping, Small Business, Tax Accountant, Tax Tips, Taxes

CRA Audits Do Happen The words Canada Revenue Agency (CRA) and Audit separately can already make people break out in a sweat, but put them together? I don’t think anyone is ever thrilled to hear that they are going to have to go through a tax audit! However, as an...
Tips for Preparing Your Business for Your Corporate Year-End

Tips for Preparing Your Business for Your Corporate Year-End

by admin | Feb 9, 2021 | Accountant, Accounting Tips, Bookkeeping, Checklists, Tax Accountant, Tax Tips, Year End

As you get all your paperwork organized for tax season, here is a comprehensive list of things to consider when preparing your company’s financial information for your accountant: Have your bank accounts and credit cards been reconciled? Have you looked at your...
Answers to Some of Your Questions on Filing Your CORPORATE 2020 Taxes (More To Come…)

Answers to Some of Your Questions on Filing Your CORPORATE 2020 Taxes (More To Come…)

by admin | Jan 18, 2021 | Tax Accountant, Tax Tips, Taxes

Last Updated: January 18, 2021 As businesses compile their paperwork for this year’s tax season, I’ve put together a detailed and up-to-date list of some new and important things to consider when preparing your Corporation Income Tax Returns for 2020. After all, this...
Answers to Some of Your Questions on Filing Your PERSONAL 2020 Taxes (More To Come…)

Answers to Some of Your Questions on Filing Your PERSONAL 2020 Taxes (More To Come…)

by admin | Jan 7, 2021 | Tax Tips

Last Updated: January 7, 2021 Happy New Year!  It was so nice to see the back end of 2020.  As an accountant specializing in tax compliance, 2021 is going to be an interesting year.  With all of the different government initiatives that were handed out last year, we...
3 Tax Tips To Get Ahead In 2021

3 Tax Tips To Get Ahead In 2021

by admin | Dec 7, 2020 | Self-Employed, Small Business, Tax Accountant, Tax Tips

If you’re a small business owner (or someone who is self-employed) and are wanting to improve your bookkeeping habits so that you don’t feel so anxious every tax season, this post is for you. Here are my top three recommendations based on conversations I’ve had this...
Things To Consider When Contemplating a Change in the Corporate Structure of Your Company

Things To Consider When Contemplating a Change in the Corporate Structure of Your Company

by admin | Nov 10, 2020 | Business Strategy

Written by Dayna Holland with the help of Elizabeth Mah There are many reasons why a company may consider restructuring its business.  You may want to create a way for your employees to buy into your company or you may want to freeze your wealth and hand down your...
Three Reasons Why Every Business Should Prepare a Financial Forecast/Budget

Three Reasons Why Every Business Should Prepare a Financial Forecast/Budget

by admin | Oct 9, 2020 | Accounting Tips, Bookkeeping, Business Advice, Business Strategy, Entrepreneur, Financial Advice, Investments

A Financial Forecast/Budget Will Provide You With All The Data You Need To Make Important Decisions Budgeting and forecasting are great ways for every entrepreneur to set out goals and targets for their business.  As an accountant, I love numbers, I love the stories...
Bookkeepers, Accountants, and Business Owners in Small Businesses: How Their Roles Can Support One Another

Bookkeepers, Accountants, and Business Owners in Small Businesses: How Their Roles Can Support One Another

by admin | Aug 5, 2020 | Bookkeeping, Business Advice, Business Strategy

As the owner and director of a small accounting business, I think that there is definitely a way in which bookkeepers, accountants and business owners can support one another while working together at an organization.  While an individual can be both an accountant and...
How Far Back the Canada Revenue Agency Can Audit You & What To Expect

How Far Back the Canada Revenue Agency Can Audit You & What To Expect

by admin | Jul 8, 2020 | Uncategorized

The Canada Revenue Agency has the right to audit you, whether you are an individual, partnership, trust or corporation.  This also includes charitable and not-for-profit organizations. The purpose of an audit is to ensure that you have been complying with the laws set...
Personal Services Business rules (the “incorporated employee”), do they apply to me?

Personal Services Business rules (the “incorporated employee”), do they apply to me?

by admin | Mar 29, 2018 | Accounting Tips, Small Business, Tax Tips

Incorporating a small business in general can provide some tax advantages such as: access to the small business deduction a potential deferral of taxes if profits are kept in the corporation access to the capital gains exemption on sale of qualified small business...
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