Blog

Our blog cover a wide range of topics related to business management, tax, and cloud accounting. Subscribe to receive weekly updates!
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New Year's Resolution for Your Business

New Year’s Resolution for Your Business

Since cash is the lifeblood of your business, it makes good sense to review the overall financial health and see where you can make improvements. Here are 9 useful tips that will help you.

6 min article
2020 Corporate Tax Rates

2020 Corporate Tax Rates Update

As we begin a new year, it’s wise to stay informed about the latest tax rates. Here are the latest combined 2020 corporate tax rates.

< 1 min article
Corporate Tax Instalment

What Is Your Corporate Tax Instalment Obligation?

Corporate tax instalments are advance payments made to the CRA to cover taxes for the current tax year. The required amount and due date will vary.

3 min article
Fiscal Year-End Date

How to Choose a Fiscal Year-End Date

There are a number of factors that you should consider to determine the optimal fiscal year-end date for the business.

2 min article
Shareholder Loan Tax Rules

Shareholder Loan and Its Tax Implications

When a shareholder borrows from the business and does not repay within a year, the loan will be included as income on the shareholder’s personal tax return.

3 min article
Business Expense Tax Deduction

FAQ for Business Expense Tax Deduction

You may have specific questions about the different types of expenses. We will go over a list of FAQ for business expense tax deduction.

2 min article
charge and collect sales tax

Does Your Business Need to Charge and Collect Sales Tax?

Charging and collecting sales tax is part of your duty for doing business here in Canada. Customers pay GST/HST, while businesses are responsible for collecting the tax.

3 min article
year end personal tax planning

Year End Personal Tax Planning Tips

Taking some time to review your financial affairs may yield significant tax savings. Here is a list of common year end personal tax planning tips.

4 min article
A list of common business expenses you can deduct

A List of Common Business Expenses You Can Deduct

Maximizing business deductions can help you lower the tax bill. Let's go over a list of common business expenses you can deduct.

3 min article
criteria to deduct business expenses

What are the Criteria to Deduct Business Expenses?

To ensure business claims are legitimate, you need to to understand the criteria to deduct business expenses. We will go over the 4 criteria used by the CRA.

3 min article
claim back sales tax paid on business purchases

How to Claim Back Sales Tax Paid on Business Purchases

If you are running a business here in Canada and you are registered for the GST/HST, you can claim back the sales tax paid on business purchases.

3 min article
Year End Business Tax Planning

Year End Business Tax Planning Tips

Some tax strategies can be applied immediately, while others require you to plan ahead of time. Here are 7 year end business tax planning tips.

4 min article
Financial Projections For Strategic Plan

5 Steps to Create Financial Projections for Your Strategic Plan

How does a business owner know if a strategic plan is worth pursuing? This is where financial projection comes in.

3 min article
Income Splitting

Income Splitting Rules You Must Be Aware Of – TOSI

TOSI was made effective to eliminate the tax benefits of income splitting where the recipient has not made sufficient contribution to the business.

4 min article
evaluate the investment in a project

3 Ways to Decide If You Should Invest in a New Project

Before committing to any major investment, it’s crucial to assess if it makes sense from an economic point of view.

3 min article
cash flow planning

Planning for Your Cash Flow Needs

Cash is the lifeblood of your business and cash flow planning is vital to business success.

3 min article
Financial Indicators

4 Financial Indicators You Should Monitor

One skill that separates a financially intelligent business owner from an average entrepreneur is the ability to use financial indicators to make timely, well-informed business decisions.

3 min article
Salary vs Dividend

Salary vs Dividend: What’s the Best Option?

The most common question asked by a business owner is - what’s the best option? Is it salary? Or is it dividend? What’s the difference between salary vs dividend? .

4 min article
Buy Real Estate Property Using A Corporation

Should You Buy Real Estate Property Using a Corporation?

There are a few factors you need to consider that will determine if buy real estate property using a corporation is best for you.

3 min article
Financial Projections For A New Business

Financial Projections for a New Business

The purpose of the financial projections for a new business is two-fold. Raise capital or for your own benefit.

4 min article
Manage Receivables and Get Paid Faster

How to Manage Receivables and Get Paid Faster

Managing accounts receivable is an inevitably part your business process, so you want to manage it effectively.

3 min article
improve the invoicing process

Improve the Invoicing Process for Your Business

Invoicing is an integral part of your business. Let’s go through some ideas about when and how to invoice well.

4 min article
Paperless Record Keeping System

Building a Paperless Record Keeping System with Cloud Accounting

By getting control over the paper in your accounting, you will be able to focus on the tasks that bring value to your business.

3 min article
Business Growth with Cloud Accounting

Position Your Business for Growth with Cloud Accounting

With the ability to integrate with thousands of third-party applications, the possibility of cloud accounting is endless.

4 min article
Tax On Selling Real Estate

Tax on Selling Real Estate

When selling a property other than your principal residence, report the gain as business income or capital gains.

2 min article
Run Payroll In-House

Can You Run Payroll In-House?

This decision comes down to one question: Are you equipped with the proper knowledge to manage payroll?.

5 min article
Payroll Mistakes

7 Payroll Mistakes That Will Put Your Business at Risk

If you are not cognizant of your payroll obligations as an employer, the payroll mistakes could held your business financially liable.

3 min article
Business Insights with Cloud Accounting

Get Actionable Business Insights with Cloud Accounting

You need timely and relevant business insights to make a sound decision, which come from accurate financial data.

4 min article
Employee vs Contractor

Employee vs Contractor – Why You Need to Know the Difference

As a business owner, you need to know the status of the worker because your obligations are going to be different.

4 min article
payroll responsibilities

Running Payroll – What is Your Responsibility?

As an employer, there are many payroll responsibilities you need to comply. We will explore each in detail.

5 min article
Haven’t Filed Tax Returns

What to do If You Haven’t Filed Tax Returns

Do you know that every year millions of Canadians feel the pressure of delinquent taxes?.

2 min article

Is your small business in too much debt? Take these steps to fix it!

Spending money that you don’t have is the quickest way to be buried in a mountain of debt that will be impossible to climb over.

4 min article

5 Factors to Consider When Selecting an Accountant for Your Small Business

3 min article

How to Manage Your Taxes as a Sole Proprietor

3 min article

Why You Should Be Considering Quick Method of Accounting for GST/HST?

4 min article
benefits of incorporating in canada

Is it time to incorporate your business?

4 min article
payroll canada

Payroll – What is your responsibility as a business owner?

Have you ever worked for another company before you started your business? You probably got paid every two weeks, you were issued a pay stub, you were paid a net amount after all payroll deductions and you received a T4.

4 min article
section 85 rollover

How to incorporate your business without adverse tax impact

4 min article