How to become a CPA in Canada?
Start by completing a recognized undergraduate degree in accounting or a related field. This provides the foundational knowledge required for…
How to find a good bookkeeper in Canada?
Choose a bookkeeper with verified credentials from a recognized accounting or bookkeeping association in Canada, such as the Ontario…
What is the difference between big and small accounting firms in Canada?
Choosing between a large or small accounting firm in Canada can significantly impact your business’s financial management. Large firms offer…
What meal and entertainment expenses are deductible in Canada?
Claiming deductions for meal and entertainment expenses is a strategic way for Canadian businesses and self-employed individuals to reduce…
How to transition between accounting firms in Canada?
Switching accounting firms requires a clear plan to ensure a seamless transition and avoid disruptions in your financial management. Start by…
What is the cost of hiring an accountant in Canada?
Hiring an accountant in Canada usually costs between $30 to $150 per hour, depending on the complexity of your financial needs and location.…
What questions should I ask when hiring an accountant in Canada?
Start by asking about their experience with businesses similar to yours, including industry specifics and company size. Understanding their…
How to record CRA payments in Canadian bookkeeping?
Always record CRA payments as reductions in liabilities rather than income. This ensures your financial statements accurately reflect what…
How to handle vehicle expenses in Canadian tax accounting?
Track all vehicle-related expenses meticulously to maximize your tax deductions. Use clearly categorized records for fuel, maintenance,…
How to account for CPP and EI contributions in Canada?
Ensure that contributions to the Canada Pension Plan (CPP) and Employment Insurance (EI) are accurately documented in your payroll system to…