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…
How to handle tax installments in Canadian bookkeeping?
Tax installment payments are a critical component of maintaining accurate and compliant bookkeeping for Canadian businesses. Properly planning…
How to handle PST/QST in Canadian bookkeeping?
Properly managing Provincial Sales Tax (PST) and Quebec Sales Tax (QST) requires clear strategies to ensure compliance and accurate reporting.…
What are the tax implications of home office expenses in Canada?
If you work from home and plan to claim related expenses on your Canadian tax return, understanding the rules is essential. The Canada Revenue…
Is double-entry bookkeeping required in Canada?
Implementing double-entry bookkeeping in Canada requires adherence to precise standards that ensure accurate financial recording. Businesses…
How to account for capital cost allowance in Canada?
Accurately incorporating Capital Cost Allowance (CCA) into your tax planning can significantly reduce your tax liability and improve cash…
What tax deductions can be claimed by Canadian businesses?
Canadian businesses can significantly reduce their taxable income by leveraging various tax deductions available under current regulations. By…
What are T-slips in Canadian tax accounting?
Always verify that T-slip information matches the details reported on your tax return to avoid discrepancies with the Canada Revenue Agency…
How does bookkeeping affect taxes in Canada?
Maintaining precise and organized financial records can significantly streamline tax filing procedures and ensure compliance with Canadian…
How to choose an accountant in Canada?
Choosing the right accountant starts with verifying their credentials and professional background. Look for a licensed member of a recognized…