While running a small business can be extremely rewarding and fun, it can also be challenging, particularly when it comes to managing the finances. Regular bookkeeping for any business is essential, no matter its size, as there are a number of financial obligations...
Businesses in Canada must navigate their way through a labyrinth of complicated tax laws and often confusing regulations, in order to achieve tax compliance. Whether we’re talking income and sales tax, or payroll and corporate tax, all are levied at federal,...
Nowadays, sustainability is a popular topic in the finance industry. Accounting businesses adopt sustainability trends to satisfy clients and authorities as environmental awareness increases globally. Going green is only one aspect of this change; another is...
In the business world, precise financial reporting and adherence to tax regulations are vital for enduring success. Two key components of this framework are the compilation of financial statements and the knowledge of a corporate tax accountant. Even though both these...
Many Canadian citizens neglect to plan their taxes, despite the fact that doing so can often help their financial situation immensely, and reduce their tax liability. One of the best ways for Canadians to secure their financial future, is to seek professional...
There are an inordinate number of challenges facing anyone brave enough to start their own business, but there are a few ways to minimize these and make the whole process a little less stressful and overwhelming. One of the most significant ways to achieve this, is...
When an external accountant puts together financial statements for a company using information that the business has provided them with, this is known as a ‘compilation engagement.’ The accountant doesn’t, however, verify or validate any of the information they have...
For the owners of small businesses all over the world, taxes and accounting form part of their financial obligations, but for those trying to manage things singlehandedly, these can become overwhelming. However, while they are an obligation, they also present a range...
Taxes can hit small business owners hard, and have a dramatic impact on their bottom line. However, there are some steps you can take as a small business owner, to reduce your tax bill, and hang onto more of what you’ve earned. Working with a corporate tax accountant...
Unless you’re a tax professional as well as a small business owner or self-employed person, it’s unlikely that you’ll know enough about tax-saving strategies to be able to put any of them into practice, to potentially reduce your tax bill. The reality is though, that...
