Calgary Accounting Services for your Small Business

If you are running a small business in Calgary then you will know just how easy it us to get caught up and confused in all the different laws and regulations that have to be followed.  It is therefore highly advisable for you to employ the services of a reputable... Read →

What is an Accountant?

What is an accountant? What is their role? The simple definition of an accountant is a person who keeps, audits and inspects financial records. What the accountant actually does is very much dependent on the size of the company he or she is working for and what the accountant actually... Read →

What are Personal Tax Exemptions?

If you are a working person in Canada your income will be subject to certain deductions.  Your income is subject to income tax and deductions for the Canada Pension Plan and Employee Insurance.  All of these are non-negotiable deductions, dependent upon age and status.  However, each and every Canadian resident... Read →

Payroll for Small Business

There are many different aspects to running a business in Canada, be it large or small.  One of the most important aspects is payroll.  If you employ people to work for you and pay salaries or wages and provide other benefits and allowances then you must register a payroll account... Read →

Calgary Accounting Services for your Small Business

If you are running a small business in Calgary then you will know just how easy it us to get caught up and confused in all the different laws and regulations that have to be followed.  It is therefore highly advisable for you to seek the help of a reputable... Read →

How to File a Tax Return

Whether you are new to business or an old hand, you must know how to  file a tax return correctly and on time. It can be a daunting process for first timers, confronted with a stack of forms to fill in and not knowing where to start.  The Canada Revenue... Read →

Canadian Payroll Deductions

Payroll is an important part of running a business in Canada. Whether you employ one member of staff or one hundred, you still have to pay them a salary and they still have to pay taxes on that salary.  Collecting and paying that tax is the responsibility of the employer... Read →

What are the Different Taxes in Canada?

Like any other country in the world, taxes are a part of everyday life in Canada. Wanted or not, there is a requirement for certain taxes to be filed, depending on whether you are an individual or a business, and depending upon where you reside.  If you are new to... Read →

What is Payroll Tax?

Payroll tax is an essential part of running a business, no matter whether you employ just one person or a thousand.  Once you have set up and started your business and started to employ staff to work for you, you need to set up a payroll account with the Canada... Read →

Do You Know When to File Taxes in Canada?

Taxes are an essential, if largely unwanted part of life.  No matter what line of business you are in, or how many members of staff you employ, there will always be taxes to calculate. And, without exception there are deadlines for each and every type of tax to be filed... Read →

10 Bookkeeping Responsibilities of a Small Business

As a small-business owner, there are a number of items that will need to be considered when it comes to keeping the books of your business. This will consist of a variety of different areas that will need to be maintained on a consistent basis. Below you’re going to discover... Read →

5 Things You Need To Know About Income Tax in Canada

If you’re a small-business owner, there are some important items you’ll need to be aware of when it comes to income tax in Canada. It’s not always business as usual when it comes to tax time. For this reason, it’ll be important to have a tax accountant on your side... Read →

What Accountants Do For Your Business?

Whatever type of business you have, you will always need the help of an accountant. There are a lot of things as to what accountants do in a business. It is common for businesses to have ledgers and records of taxes as well as past expenses. Sometimes such companies require... Read →

Why You Need Succession Planning In Business

Due to the sudden increase of economic growth and development in Canada, there is an increase of investors and businesses in the country. The wave of the economic growth has sprung various individuals to start small scale businesses while corporations increased their holdings dramatically in order to keep up with... Read →

Calgary Accounting Services for Small Businesses

  Businesses, irrespective of size, can never do away with accounting. Truth be told, it is an indispensable tool in measuring how much the business has achieved and is essential in pursuing growth and success. Having a reliable accounting system is a must, as one can get lost in the... Read →

What is Corporate Tax?

What is Corporate Tax? Let’s get focused for this discussion: what is corporate tax? Among the tax forms imposed in any country today, corporate tax evolved from the very principle of business income generation. Legal entities are obliged to pay this tax  imposed by the federal government, or by any... Read →

5 Benefits for Using an Accountant for Tax Returns Preparation

While it is true that tax returns for your business can be done by yourself, there is no perfect substitute in using an accountant for tax returns preparation. Professional help is a sure advantage and though this may be costly, the benefits far outweigh the required investment. So with the... Read →

What is a Financial Statement?

What is a financial statement? In short a financial statement formally puts into writing all the financial pursuits of a business and their results. Finances are crucial in any business endeavor. The role of financial statements is to produce the necessary information for any stakeholder to make informed decisions pertaining to his... Read →

The Top Bookkeeping Responsibilities Of A Small Business

In any type of business, there will always be a need for bookkeeping professionals. Accounting professionals will often work either as a freelancer or someone who works in a specific corporation. Most accountants have a specific discipline that they follow. They may either specialize in computing taxes or in other... Read →

Calgary Chartered Accountants

Business services nowadays can range from administrative to frontline tasks. Outsourcing, as it is referred to, has always carried the banner of efficiency exceeding financial costs no matter the type of task it is involved with.  Take for instance, services in line with accounting and tax functions. As an exclusive... Read →

When are GST Payments Due?

If you are in business chances are you are required to collect and remit GST or will be at some time in the future.  So when are GST payments due? Here are three important sets of dates you need to know: The first day you need to collect GST Your... Read →

coins_refund

Be Organized For Tax Season

Yesterday I was talking about the various ways you might prepare your tax return with the goal of filing on time. I was working on several files for taxpayers yesterday and it occurred to me that the most significant factor in helping make this process easier (for all concerned) is... Read →

iStock_000009325028Medium

Accounting: An Introduction

Revenge of the math club is how many independent business owners view the need for accounting. Unfortunately, this may result in the owner totally ignoring the entire process and using other tools to run his business. We say unfortunately, because accounting, and the products of accounting, can assist you in the... Read →