Articles by: Sohail Afzal

Category: Sohail Afzal

The 13 Accounting Terms an Entrepreneur Should Know Before Starting Their Business

Starting a business is no easy task. There are many things to think about – from the product or service you’ll offer to the branding and marketing strategy you’ll use to get your name out there. But one of the most important aspects of any business is its accounting. Without good accounting practices in place,…
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8 Questions to Ask a Bookkeeping Service When Hiring Them in 2022

When was the last time you sat down and looked over your finances? If it’s been a while, or if you’re not entirely sure what you’re looking at, it might be time to hire a bookkeeping service. Bookkeeping services can help take the load off your shoulders and make sure that everything is in order…
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Taxes for Self-Published Authors: What You Need to Know

As a self-published author, it’s important to be aware of the tax laws that apply to you. There are a number of deductions and credits that you may be able to take advantage of, so it’s important to understand what they are. In this blog post, we will discuss some of the key things that…
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What To Do If You Didn’t File Your Taxes On Time In Canada

Did you know that over half of Canadians don’t file their taxes on time? According to a recent survey, the main reasons people cited for not filing their taxes on time were “procrastination” and “forgetting.” There are many other reasons people might not file their taxes on time in Canada. Maybe you were out of…
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Tax Planning for Small Businesses: What You Need to Know

As a small business owner, you have a lot on your plate. You are responsible for the day-to-day operations of your business, and you also need to think about long-term planning. One important aspect of long-term planning is tax preparation and tax reduction strategies. Did you know that specific tax laws and deductions are available…
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The Cost of Bookkeeping and Accounting in Canada: What Businesses Need to Know

When it comes to accounting and bookkeeping, businesses have many questions. What is the difference between bookkeeping and accounting? What is the cost of hiring a bookkeeper or an accountant? Should I work with a freelancer or an accounting firm? These are all valid questions, and it can be difficult to decide the best option…
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How to Create and Use a CRA My Account

Do you need help managing your taxes this year? If so, you may want to consider using a CRA My Account. A CRA My Account is a secure online portal that allows you to manage your tax affairs easily and conveniently. In this article, we will discuss how to create and use a CRA My…
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All About Bookkeeping For Small Businesses

As a small business owner, you have a lot on your plate. You probably wear multiple hats, from marketer to salesperson to accountant. It can be tough to keep track of everything, especially when it comes to accounting and bookkeeping. That’s why it’s important to understand the basics of bookkeeping and how it can help…
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Tax Implications for Students Living in Canada For Their Studies

Students who are studying in Canada may be wondering about their tax obligations. Are they considered residents for tax purposes? And what are the implications if they are considered residents? In this article, we will explore the tax implications for students living in Canada and studying here. We will also provide tips on finding out…
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The CRA’s Notice of Assessment: Everything You Need to Know

If you’re like most Canadians, you probably receive a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA) at some point during the year. The NOA is essentially the CRA’s way of telling you how much tax they believe you owe, and it can be quite confusing to understand if you’re not familiar with…
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