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To choose an accountant in Canada, start by checking who they are, then ask what work you actually need done. A CPA is licensed and regulated…

Input tax credits are how a GST/HST registrant gets back the GST or HST it paid on business purchases. If you paid $1,040 of HST on $8,000 of…

Business tax deadlines in Canada depend on what kind of business you run. A sole proprietor files by June 15 but has to pay by April 30, while…

The best way to organize receipts is one habit: capture each receipt the day you get it, in one place, and file it by month. Keep them for six…

For most Canadian businesses, the accounting method isn’t a free choice. If you’re a sole proprietor or a partner, only farmers,…

The bookkeeping penalties in Canada start at a fine of $1,000 and can reach $25,000, plus up to 12 months in jail, for failing to keep the…

To get ready for a payroll audit in Canada, make sure your payroll records match what you remitted and what your T4 slips say, and keep them…

Yes. In Canada the law requires you to keep records of all your business transactions, so that you can support your income and expense claims.…

For most self-employed people in Canada, the cash or accrual accounting question has already been answered for tax. The CRA says farmers,…

Canadian accounting differs from US accounting first in who writes the rules. In Canada the Accounting Standards Board sets them, and publicly…