Apr 24, 2023 | Small Business
For Ontario based companies that sell products and/or services, once sales exceed $30,000, GST/HST (Goods and Services Tax/Harmonized Sales Tax) must be collected from customers and remitted to the CRA and as such, the business must register for a GST/HST account. The...
Mar 21, 2023 | Bookkeeping, Income Tax, Personal Finance, Small Business
Updated February 29, 2024 We prepare a lot of tax returns, so we have seen it all. Many forget or don’t even realize they may be eligible to claim tax deductions or credits. So here is our list of the top 10 most overlooked tax deductions and credits (in no particular...
Mar 17, 2023 | Small Business
We hear this question a lot. There are two ways a business owner gets paid – salary or owner’s draw. Salary A salary is when you put yourself on the payroll and deduct the necessary taxes from each pay, just like paying staff. It is rigid yet...
Feb 17, 2023 | Bookkeeping, Quickbooks Online, Small Business
QuickBooks Online is a great place to keep a list of all your customers in one place. It’s super easy to add new customers and to manage your customer list. Ensuring the accuracy of your customer list is important as it’s directly tied to your invoicing. The...
Jan 18, 2023 | Bookkeeping, Productivity Tools, Quickbooks Online, Small Business
As a business, you track the profit and loss of your business as a whole but what about tracking profitability on each job or project? Construction and project based businesses are best suited to take advantage of QuickBooks Online Projects. The Projects feature...
Jan 6, 2023 | Small Business
Cash flow is extremely important for any business to survive. At its simplicity, you need money to keep coming in so that you can pay your bills on time. Therefore, it is vital to create and maintain practical business practices in order to keep the cash flow...
