BATT#14: February Deadlines for Business

All businesses share a deadline each February to file their T-slips (T4 and T5, etc.) for employees, investors and other. This is a key part of our tax process and carries steep penalties if late or missed. Make sure you know what to do at this time of year!

Congrats to friend of the firm, Tanya Nguyen!

Congrats to Tanya Nguyen who successfully completed the CPA exam this year and graduated this past weekend. She passed one of the most difficult professional exams in the world this year, the CFE.

Canadian Tax Focus #1: Trading in Securities

Is your trade going to be viewed as income or capital? Are you a trader in securities. Our Canadian Tax Focus series will help you understand the issues and bring the right facts to your tax adviser.

BATT#11: Salary versus Dividends

For an incorporated business owner, whether to be paid in salary versus dividends is always a top question – and one that interestingly always seems to draw a strong, definitive answer.  Not surprisingly, a strong, definitive answer is exactly the opposite of what should be the case in these instances.   Social Safety Net Many will tell you, accountants and …

BATT#10: Planning to Pay Your Taxes

Thinking ahead to paying your tax bill through the year is very important.  It’s easy when bills are coming and you need to pay yourself as a business owner to forget that taxes are owing at the end of the year.   The Reality of Taxes When you start a business in Canada, you will, in virtually all cases, owe …

BATT#9: The Aged Accounts Receivable Report

If there is one thing you need to keep up to date as a business owner is your accounts receivable balance, or sub-ledger.  This means you’re invoicing out of your accounting system, posting bank deposits as they happen and matching them against invoices.  Or, if you have an integrated payment services system, this is all happening automatically for you.   …