According to how businesses operate tax season is considered to be in March and April. However, businesses that plan well and thrive keep their Tax season, at least with their bookkeeper, in November & December. Come Tax time you want to be filing your income tax return and paying the taxes that you owe. But without planning the income you are taking, that may not always be the best approach. Good bookkeeping will put you in a more focused tax situation. What does this mean?
If you’re an Ontario small business owner then HST might be near top of mind with the upcoming HST deadline on October 31, 2014. In our previous two blog articles, we’ve explored how to file and pay HST in Ontario and how the CRA calculates if you owe them or they owe you, but in this article we’re going to step back a bit and consider whether a small business should even collect HST in the first place. For most businesses it makes sense to register for HST but there are som
Soon, we will move into Holidays and you may not even realize that your business's year is coming to an end. Be prepared and know what procedures you must do with your bookkeeping to avoid the last minute hustle and stress. If you don't have a well-informed bookkeeper you may not know what needs to be done at year-end to carry forward your bookkeeping into a new fiscal year. So, let us help you get organized, and to do so we've compiled a basic list below of what might be nee