Do you keep the right records?

Do you keep the right records?

With many of us living in smaller spaces and looking to cut down the amount of paper we have to store, an increasing number of people are asking if they can keep digital copies of their receipts – and how much or how little they have to hold onto for CRA compliance....
Does your accountant do enough for you?

Does your accountant do enough for you?

Although most people think of accounting firms as being most useful during tax season, we pride ourselves on helping our clients all year long as well as helping to demystify the process of running a business. One of the most frequent pieces of feedback we get from...
Do you keep your receipts?

Do you keep your receipts?

Think as a business owner you’re immune to an audit by the CRA? Think again! It used to be that when it came to checking receipts for items like meals and advertising, the CRA generally left business owners alone, but that’s changing. I’m finding that the CRA is going...

Do You Airbnb?

More and more people are looking to Airbnb and similar sites to rent property. If you are renting out your property, this could have unexpected tax implications. Tenants If you are using Airbnb as a tenant, the tax implications are fairly straightforward. You get a...
Who’s Doing Your Bookkeeping?

Who’s Doing Your Bookkeeping?

We discussed earlier what system to use for your bookkeeping.  Today we’ll look at who is actually doing the work. The DIY Approach Most small business owners start off doing everything themselves.  Sometimes this is because they know the business best, but usually...