What to Do When You Receive a CRA Audit Notice
A CRA audit notice is a letter or call that says the CRA wants to look closely at your books and records. Don’t panic, and don’t…
Financial Modeling in Canadian Business Planning
Financial modeling in business planning means building a spreadsheet that turns your assumptions into cash, profit and tax, so you can change…
Overtime and Stat Holiday Pay in Canadian Payroll
Overtime and statutory holiday pay follow provincial rules, so the same shift can pay differently from one province to the next. In Ontario…
How an Accountant Helps Your Business Grow
An accountant helps business growth mostly by putting numbers on decisions before you make them: how much tax a profitable year will cost, how…
Tax on Employee Relocation Expenses in Canada
Most employee relocation expenses your employer pays for a move to a new work location are not taxable to you, as long as they’re on the…
Employee expense reimbursements in Canada
Are employee expense reimbursements taxable? Usually not. A reimbursement repays a real cost, backed by a receipt, and it isn’t extra…
Group Benefits Reporting Rules for Employers
Group benefits reporting comes down to one slip and one date. Any taxable part of your plan goes on each employee’s T4 by the filing…
Accounting for Mining Companies in Canada
Mining company accounting has one tax feature that matters more than the rest: exploration costs can be fully deducted in the year you spend…
How Employee Benefits Are Taxed in Canada
Employee benefits tax comes down to one rule from the CRA: what your employer gives you is taxable unless the law or a CRA policy says it…
Financial Metrics Canadian Small Businesses Should Track
Most small businesses can run on five or six financial metrics: gross margin, net profit margin, current ratio, quick ratio, how many days…