GTA Accounting Insights

Category: Business & Corporate Tax

The 6 Worst Accounting Mistakes Businesses Make

Running a business is hard enough – don’t make it harder by making common accounting mistakes. You can keep your business finances on track and avoid costly penalties and fines by avoiding these mistakes. Unfortunately, many businesses do just that. In this blog post, we will discuss the six worst accounting mistakes businesses make and…
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Everything a Restaurant Owner Needs to Know About Taxes in Canada in 2022

As a restaurant owner in Canada, it’s important to stay up-to-date on the latest changes in taxes. In 2022, several new taxes will be levied, and changes to existing tax laws. If you’re not sure how these changes will affect your business, it’s best to consult with an accounting firm or tax expert. They can…
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Tax Benefits for a Small Business: How to Maximize Your Savings

Tax season is here, which means small business owners need to consider how they can maximize their tax savings. There are a number of tax benefits available to small businesses, but the process of applying for them can be confusing. That’s where an accounting firm comes in. Tax experts at an accounting firm can help…
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5 Tax Benefits in Canada You Should Know About

Did you know that people can get several tax benefits in Canada? These benefits can include things like the GST/HST credit, the Child Tax Benefit, and the Working Income Tax Benefit. In this blog post, we will discuss all of these benefits and how people can apply for them. We will also talk about when…
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5 Tips For Personal Savings in Toronto

A substantial part of the financial journey of every individual revolves around saving their personal finances. You might think that it is a lot of work to manage your personal finances, you will get a lot of benefits in the long run. You can take several steps to gain better control of your finances, from…
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Here’s What You Need to Know As a First Time Tax Filer in Toronto

Benjamin Franklin famously said, “Nothing is certain except death and taxes.” Whether you’re pursuing your degree, working your first job, or about to retire, tax filing is a part of life here in Canada, no matter what stage of life you’re in. Whether it is your first time filing – or you need a refresher…
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What do Corporations Need to Know About Charitable Donations and Taxation in Mississauga

There are both similarities and differences between the tax treatment of charitable donations made by corporations and those made by individuals. It is generally true that a taxpayer may not claim more than 75% of their income for any given year, and unused donations may be carried forward for up to five years. Donations made…
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5 Myths About Taxes That You Should Believe in Oakville

We know it’s confusing to deal with taxes. In a recent survey, 41% of Canadians reported enjoying filing their taxes, but many are dissatisfied with the process or frustrated by the confusion and frustration it may bring. Our experts have compiled a list of the top 5 Oakville tax myths to help clear up the…
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How Can Self-Employed People File Their Taxes in Toronto?

You have been working as an employee for a very long time. Now, you have started a side-hustle to bring more financial freedom and flexibility to your life. It could be anything ranging from freelance work or your own physical or online business. Being self-employed is great as you are more independent. Your side-hustle could…
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Is It Possible to Pay Fewer Taxes on Rental Properties in Toronto?

Becoming a landlord in Toronto is not as easy as it looks. Anyone can buy property, but if you want to rent it out, there are some responsibilities you need to consider. You’d have to be ready all the time to solve all the tenants’ problems. For instance, if the pipe is leaking on your…
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