Taking care of business tax requirements is difficult for small business owners in Canada. Even after gathering all of their paperwork and filing a return, many people wonder if they did the best they could with their tax situation. Successful small business tax strategies are based on staying cautious with tax planning, recordkeeping, and preparation… Continue reading Small Business Tax Strategies: SME Accounting Basics You Need To Know
Blog Category: Accounting Service
Strategic Financial Alignment: How To Organize Your Business Finances
Strong financial management is essential for any business, regardless of its size or industry. Increased profitability, improved cash flow, reduced risk, and increased access to capital are some of the perks of having a stronghold on financials. This blog discusses the importance of strategic financial management, and how you can get enhanced decision-making, improved compliance… Continue reading Strategic Financial Alignment: How To Organize Your Business Finances
Business Fraud: What Is It Why Should You Know About It?
Today, more people work remotely, more organizations experience staff churn and fewer internal controls are implemented by them. Due to these irregularities, the chances of corporate fraud have increased multifold. However, even if you put the strictest controls & stringent policies, and keep the trustworthy long-term staff, your business is not 100% secure from fraud.… Continue reading Business Fraud: What Is It Why Should You Know About It?
Navigation in Logistics Accounting in Canada: Precision in Motion
What is Logistics Accounting and Why is it Important for Your Business? Are you lost in the world of logistics accounting? Logistics accounting is a complex and ever-evolving field. In today’s competitive market, businesses need to be able to track and manage their logistics costs with precision to stay ahead of the competition. Given the… Continue reading Navigation in Logistics Accounting in Canada: Precision in Motion
Canada’s Luxury Tax Explained: What Is It How To Calculate It?
Demystifying Canada’s Luxury Tax: A Comprehensive Guide Last year in September 2022, Canada’s luxury goods tax came into effect, taxing certain vehicles, aircrafts, and vessels that exceeded certain price thresholds. If you are planning to buy any of the items listed in the tax act, this blog is worth your time. Luxury tax was introduced… Continue reading Canada’s Luxury Tax Explained: What Is It How To Calculate It?
The Key to Financial Success: Bookkeeping for Small Businesses
Accurate and organized financial records are key to the financial success of every business. Small enterprises have small-scale operations and limited funds. Thus, they do not have enough cushion to bear any financial loss with any accounting mistake. In this comprehensive guide, we will explore the essence of bookkeeping for small businesses and its… Continue reading The Key to Financial Success: Bookkeeping for Small Businesses
Finance Guide 101: Selecting an Accounting Software Perfect for Your Small Business
The Imperative of Choosing the Right Accounting Software For effective financial administration in your organization, selecting the correct accounting software is crucial. It automates processes like billing, bookkeeping and financial reporting, which saves time and minimizes mistakes. Ultimately, selecting the best accounting software will improve your company’s overall financial management, planning, and growth potential. But… Continue reading Finance Guide 101: Selecting an Accounting Software Perfect for Your Small Business
Cost-Effective Strategies for Transportation Companies in Canada
Transportation businesses in Canada must be financially savvy and cost-conscious to succeed in the ever-changing and competitive industry. It enables them to turn a profit and sustain their operations over time. Both Asset-based and non-asset-based transportation companies have traits that separate them from their peers in other industries. For asset-based companies, there is considerable capital… Continue reading Cost-Effective Strategies for Transportation Companies in Canada
What Do You Need To Know About Tips & Gratuities Taxation In Canada?
Are you employed or self-employed and receive appreciation as tips and gratuities when working? While serving tables, giving a ride home, doing nails, cutting hair, or giving a service that impresses the customer, servers often receive a tip. Did you know that gratuities and tips in Canada are taxable? While filing a tax return, you,… Continue reading What Do You Need To Know About Tips & Gratuities Taxation In Canada?
What Is Line 10100 On Tax Return?
When you file tax on your employment income, you will surely stumble upon the Line 10100 tax return, formally known as Line 101 till 2019. Just like we stay updated with our credit scores, loan payments, and tax credits, it is integral to learn about different particulars of our tax forms, so as to not… Continue reading What Is Line 10100 On Tax Return?