Many people don't seem to understand the value of hiring a professional bookkeeper for their small business... Hiring a professional bookkeeper can add a lot of value to your small business. Simply purchasing the best cloud accounting software such as QuickBooks Online does not suddenly make the business owner a professional bookkeeper. Some of the things that …
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Here are some things you may want to know that can lower your tax bill as a business owner in Toronto... Salary vs. Dividends Generally speaking, dividends have a lower tax rate than salary, are not subject to Canada Pension Plan (CPP) and the first $34,000 of dividends can be received tax free. Salary creates …
If you live in Ontario, Canada, then you are certainly familiar with pay taxes; however, what are all the different taxes we must pay? The Canadian government(s) collects money from both individuals and companies at the federal, provincial and municipal government levels. The most common types of taxes in Canada are: Personal income taxes Corporation …
Small business owners in Ontario may not realize that the Quick Method of accounting for GST/HST can actually increase the bottom line of a small business... GST/HST registrants who elect to use the Quick Method collect GST/HST as usual; however, rather than claiming input tax credits (ITCs), the registrant would simply use a formula that …
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Did you know that as an Individual in Canada you are able to deduct certain legal expenses? Legal fees paid to collect, establish or increase the amount of support payments The tax treatment of legal fees paid during a separation and divorce are generally complicated. Most of the legal fees incurred are not deductible …
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Threatening phone calls from people posing to working for the Canada Revenue Agency (CRA) are on the rise in 2018... It is almost a daily occurrence that someone will call you at home, on your mobile phone, or even your small business directly, and threaten legal action unless you pay your overdue taxes immediately. They …
Accounting in 2018 is very different than it was in 2000 or even 2014. Here are some of the most amazing tools that are available for Canadian small businesses... Whether you hire a professional bookkeeper or a Small Business Accountant there are still a number of options available to you for your bookkeeping and accounting needs. …
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Small Business Accountant Toronto Tips & Blog 
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