Small Business Bookkeeping Toronto

It doesn’t matter what type of business you operate; it is essential to know how bookkeeping ensures the proper functioning of your business. Bookkeeping is the backbone of the entire accounting system and it is highly important to make sure that your bookkeeping generates accurate, error-free, and up-to-date results. If it is intimidating for you…

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Corporate Accounting

‘Corporate Tax Planning’ is an attempt to reduce tax liabilities using different tax reduction strategies. To get the most out of your tax strategies, you need to start the tax planning process well before the end of the fiscal year. Writing-off assets, bonus declaration, and the investment in RRSP account are some of the important…

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All you need to know about GST and HST in Canada

Introduction: The Harmonized Sales Tax is a consumption tax in Canada. It is used in provinces where both the federal goods and services tax and the regional provincial sales tax have been combined into a single value-added sales tax i.e. HST. For Ontario – HST is 13%; if your business collects GST/HST on sales, it…

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bookkeeping for restaurants

Many small restaurant owners in Canada fail to complete even the first year of their business operations only because they fail to manage their restaurant’s cash flows appropriately. There can be a lot of misappropriations that can only be controlled by implementing an industry-specific accounting solution. Restaurants are not exempted from the need for accurate…

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how rrsp area a great investment for canaidans

A Registered Retirement Savings Plan (RRSP) is one of the great tools for Canadians to save money for their retirement life. Investment in RRSP is considered as ‘tax-deferred’ which means that your money is only taxed when you withdraw it. For most Canadians, RRSP is not only an investment tool but you can also minimize…

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how property tax in ontario is calculated

Property tax raises revenue to fund different municipalities of the local government. Almost 25 percent of the property tax revenue is used to fund education in Ontario. As there are many responsibilities of the municipal finance department, certainly property taxation is one of the most important – not the least. The reason being that it…

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virtual accounting services toronto

Virtual accounting, online accounting, e-accounting, and cloud accounting are some of the modern names of accounting that are used interchangeably. Every accounting function that a traditional accountant used to perform in a brick-and-mortar office is now performed remotely with greater efficiency and effectiveness. There are many reasons why Canadian corporations are willing to partner with…

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