Nov 15, 2021 | Bookkeeping & Payroll, Featured, News and Events
Bookkeeping practices have shifted with more remote work, digital document flow, and hybrid teams. Whether you run the books yourself or use a bookkeeper, here are three areas that matter for Canadian small businesses today. 1. Working from home and employee... 
Sep 24, 2020 | Personal Tax and Finance, Contractors & Sole Proprietors
1. Employees (BC) Employment relationships in BC are governed by the Employment Standards Act (and related rules). Employers typically must withhold income tax, CPP, and EI (where applicable), remit on schedule, and provide vacation pay, termination notice or pay, and... 
Aug 7, 2020 | Personal Tax and Finance, Bookkeeping & Payroll
As bookkeeping goes more into the cloud, we have found that one of the most reliable and popular software is QuickBooks Online (“QBO”) which many of our clients use. Working with the program has highlighted for us a few common issues for which we have noted solutions...Jan 19, 2018 | Contractors & Sole Proprietors, Personal Tax and Finance
Canada’s tax on split income (TOSI) rules apply to certain types of income received by adult family members from private corporations (and some related structures), including dividends, interest, and certain capital gains, unless an exclusion applies. The rules...Jun 1, 2016 | Contractors & Sole Proprietors, Personal Tax and Finance
Self-employed? If you or your spouse or common-law partner carried on a business in the year, your T1 personal income tax and benefit return is generally due June 15 each year (or the next business day if June 15 falls on a weekend or holiday). Balance owing: Any...Apr 19, 2016 | Contractors & Sole Proprietors, Personal Tax and Finance
To shred or not to shred – that is the question. The Income Tax Act requires every taxpayer carrying on a business to keep records and books of account so that the Minister may verify the validity of the expenses claimed and thus establish the amount of tax...