How blockchain and crypto show up in Canadian books
Blockchain touches Canadian accounting mainly through crypto-assets. If you hold, trade or accept them, the CRA treats each sale or swap as a…
Business Loan Tax Rules in Canada: What You Can Deduct
Interest on a business loan is deductible, as long as you borrowed the money for the business. The CRA says you can deduct interest on money…
Working With Your Accountant on Cash Flow Forecasts
Cash flow projections work best when your accountant gets real numbers from you early, and you get plain questions back. Bring your sales,…
Canadian Expatriates and Their Bookkeeping Records
Canadian expatriates keep two sets of books in effect: one for what they owned and earned while resident in Canada, and one for what they own…
Securing Financing With Clean Accounting Records
Financing gets easier when your accounting can answer a lender’s first question: can this business pay the loan back? Clean books show…
What Does Tax Preparation Cost in Canada?
We can’t give you an honest average for tax preparation cost in Canada. The CRA doesn’t publish one, preparers set their own fees,…
Tax Implications for Tech Startups in Canada
The tax implications for tech startups in Canada mostly come down to two numbers: the corporate rate on your profit, and the SR&ED credit…
What e-commerce expenses can you deduct in Canada?
Most e-commerce expenses you pay to earn income are deductible: advertising, shipping and freight, bank and payment charges, office costs,…
In-house vs outsourced bookkeeping costs in Canada
An in-house bookkeeper on a $40,000 salary in Ontario costs you $43,084.55 a year once employer CPP and EI are added, or about $3,590 a month…
Bookkeeping for Schools and Colleges in Canada
Bookkeeping for educational institutions in Canada starts with one question: what kind of body are you? A registered charity keeps records the…