Our Blog
Featuring tips and information to support you and your small business.Bookkeeping
Bookkeeping
Income Tax
Income Tax
Personal Finance
Personal Finance
Productivity Tools
Productivity Tools
Quickbooks Online
Quickbooks Online
Small Business
Small Business
More Blog Posts
Why Your Small Business Needs a Bookkeeper
As a business owner, it’s easy to think you can do it all. After all, you have to wear many hats, especially in the beginning as you embark on your business. For most, bookkeeping is a task one dreads and procrastinates doing yet is something that needs to be...
Tax Obligations When Closing a Business in Ontario
Closing a business in Ontario involves more than just shutting the doors. It requires attention to tax obligations to ensure compliance with both federal and provincial regulations. Whether you're operating as a sole proprietorship, partnership, or corporation,...
Why RESPs are important and necessary savings vehicle for children
A Registered Education Savings Plan (RESP) is a tax-sheltered account for parents, grandparents or anyone to help save money for a child’s post-secondary education (apprenticeship, trade school, college or university). The funds can be used towards paying for tuition,...
Insurance for Ontario Business Owners
You wouldn’t go without home or auto insurance and business insurance is no different. In fact, it is even more crucial as it lends to the credibility of the business. Business insurance protects the company from financial losses as a result of unexpected...
Why You Should Read your Notice of Assessment
Anytime you file an income tax return, you will receive a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA). It serves as a confirmation of your completed return and contains important details about your return. We are most familiar with the NOA...
When Should Teens Start Filing Income Taxes in Canada?
As kids get their first part-time or summer job, the question we get asked a lot from parents is when does their teenager need to file their first tax return. In Canada, there’s no minimum age requirement to file a tax return. What matters is whether the person...
How to Get Organized for Tax Season
Tax season is right around the corner, so it’s best to plan ahead to make this year’s tax filing less stressful. Here’s how you can start to get ready for the upcoming tax season. 1. Know the Deadlines The deadline for most individuals to file their return and...
How to Avoid TFSA Over-Contributions
A TFSA (Tax Free Savings Account) is a popular and powerful tool for Canadians to grow their wealth without paying tax on investment income. However, going over the contribution limit can lead to costly penalties from the Canada Revenue Agency (CRA). What is...
5 Common Bookkeeping Mistakes to Avoid
Bookkeeping is the backbone of any successful business. Accurate and efficient bookkeeping helps in maintaining financial health, making informed decisions, and ensuring compliance with the Canada Revenue Agency. However, even the most well-intentioned business owners...
5 Reasons to Migrate from QuickBooks Desktop to QuickBooks Online
With the advancement of technology, QuickBooks Desktop will be discontinuing its service and support effective May 31, 2024. As it is essential for businesses to embrace modern solutions that streamline operations and enhance efficiency, migrating to QuickBooks Online...
