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More Blog Posts
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...
Tax Deductions on Rental Properties – What Landlords Should Know
To make the most of your rental income, it is crucial to be aware of the income tax deductions available to owners of rental properties. Below are some of the key deductions that every Canadian landlord should be aware of that can help reduce the amount of income tax...
The Role of Bookkeeping in Tax Preparation
When it comes to managing finances and preparing for tax season, professional bookkeeping is an indispensable service. Bookkeeping serves as the foundation for accurate tax preparation, ensuring compliance with regulations, and maximizing tax deductions and...
Why the CRA Needs to Know Your Relationship Status
The Canada Revenue Agency (CRA) collects information on marital status as part of the tax filing process. This information is important for determining your tax obligations, credits, and benefits. In this blog post, we will explore why the CRA needs to know your...
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...
Surcharge on Credit Card Purchases
As consumers, we love to use our credit cards to make purchases. Especially if that credit card earns us reward miles, air miles, etc. However, businesses are on the hook to pay various credit card processing fees. Those fees increase for the merchant if the credit...
QuickBooks Business Network
The new QuickBooks Business Network connects you with your customers and suppliers. This helps to keep contact information up to date and allows you to send invoices directly to your customer’s QBO account and to receive bills from your suppliers directly to your QBO...
