If you are a business owner in Canada, one of your responsibilities is to charge and collect the Goods and Services Tax (GST) or the Harmonized Sales Tax (HST) on the products or services you sell. In this article, we will discuss the basics of GST/HST and how much you need to charge. What is [&hell...

As a small business owner in Canada, maximizing your tax deductions is crucial to reducing your tax bill and keeping more money in your pocket. However, many small business owners miss out on important tax deductions that could save them thousands of dollars each year. In this article, we’ll c...

Efficiently managing finances is crucial for any business owner. However, bookkeeping can be a tedious and challenging task. To save time, money, and effort, hiring an online bookkeeper is a smart solution. Consider the following seven reasons for hiring an online bookkeeper: Services are generally ...

As the end of the year approaches, it’s crucial to ensure that your financial books are in order. Getting your books ready for the end of the year can be a daunting task, but with a checklist in hand, you can stay organized and on top of your finances. In this blog post, we will […]...

This article compares Xero and QuickBooks Online (QBO), two popular cloud-based accounting software options for small businesses. They both offer automated invoicing, expense tracking, bank reconciliation, and financial reporting, but differ in their pricing structure. Xero has three plans, while QB...

Canada has a progressive tax system, which means that individuals pay a higher tax rate as their income increases. The federal government and the provincial or territorial governments collect taxes, which are used to fund various public services such as healthcare, education, and infrastructure. In ...

Canada’s housing crisis has been a growing concern, prompting the government to introduce the Underused Housing Tax (UHT) Act. This act targets underused properties, defined as those not used as a primary residence or rented out for at least six months each year. In this blog post, we’ll...

Income splitting is a tax planning strategy that can help Canadian families reduce their tax burden by redistributing income among family members. In this blog, we’ll provide you with a comprehensive guide to income splitting in Canada for 2023. We’ll cover everything from what income sp...

Starting a business in Canada can be a rewarding experience, but it comes with several responsibilities, including taxes. Taxes can be a significant expense for Canadian startups, but with the right strategies, you can minimize your tax liability and maximize profitability. In this blog, we’ll...

Outsourcing professional audit support services has become a popular option for businesses looking to streamline their operations, save costs, and access expert knowledge. However, finding the right provider can be challenging, especially if you’re not familiar with the outsourcing process. In...