Accounting for Tax Time

It’s March! The days are getting longer, the weather is getting warmer, and personal tax season is upon us. I would like to remind you of the April 30th filing deadline and offer our assistance in preparing your 2014 T1 Personal … Read More

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Why Do Small Businesses Need Financial Statements?

There are few questions more shocking to an accountant than “Why do we need financial statements?” Years of specialization and familiarity lead most accountants to take the answer to this question for granted. Indeed, when asked this question, many accountants … Read More

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February is T4 Month

February is upon us and the news from Pennsylvania is that Punxsutawney Phil saw his shadow this morning — which means six more weeks of winter. The other bad news is it’s time to file your 2011 T4’s and T5’s. A T4 needs … Read More

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What Can I Deduct as a Business Expense?

We are often asked by our clients what constitutes a deductible business expense? The answer the Canada Revenue Agency has provided is quite simple: a deductible business expense is any reasonable current expense (cost) you paid or will have to pay … Read More

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Why Incorporate Your Business

When starting a small business, you have a few choices on how to legally structure it. You can organize your business as a corporation, sole proprietorship, or a partnership. What you ultimately choose will have a significant effect on the … Read More

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Accounting Policies and Procedures

Do you know your businesses’ accounting policies and procedures?  Are they optimized for your specific type of business, and your operations individual needs? If you were audited tomorrow, would your books stand up to Federal scrutiny? Did you just break … Read More