CA Blog
Sharing unique bookkeeping & accounting advice here
How to handle the spot audit from the Law Society?
Spot audits in law practice are more or less like the practice inspection in accounting practice. The Law Society has expressed concerns over financial deficiencies noted during the spot audit. In some cases, poor documentation and records may lead to practice...
Are those franchises attractive to you? Part 2
Franchisee, performance,business model, franchisee’s accounting
Holdback? Did you do it right in tax?
Holdback,constructions, contractors, completion method, percentage completion method, income tax planning
Are those franchises attractive to you?
franchises, trending, investment costs, etc
How much is worth for your childcare centre in Ontario?
Are you running a private childcare centre in Ontario? Do you feel the industry is so competitive?Are you interested to know what challenges/risks are there? And the key question is: how much is worth my childcare centre? Take a look at the video.Enjoy!...
Top 3 accounting challenges for Not-For-Profit organizations in Canada
In today's Not-For-Profit (NFP) environment,regulatory changes, compliances and fundraising are the headwinds for a lot of NFPs. Large NFPs may have enough resources to handle all the challenges but not for a lot of small NFPS who lack of fundings and supports....
Home builders/contractors, why choose percentage completion method?
In the previous post, I have talked about how to track revenues and expenses related to each project in progress at any time in Quickbooks.The reason is quite obvious as job costing enables you to have a clear picture which projects are profitable. Another reason is...
Job costing in construction business – what you need to know
Business owners in construction business face challenges not only from running the project on schedule but also from assessing the profitability of the job/project. Those business owners are not alone. A lot of contractors, even manufacturers are facing the similar...
3 proposed changes in tax planning with massive impact, have you heard about it?
Federal tax proposals, income splitting,passive investment income,capital gain,kiddie tax,etc
Is cyber security too remote for small businesses? Let’s hear what an IT expert says.
As more and more transactions are gone through the Internet via tools and applications, the approach that the businesses take to protect the important assets including customer data as well as internal data becomes critical. Recently, I have interviewed a cyber...
The coffee story
The coffee story You can't miss this name in Toronto, Aroma espresso bar. It opened its first location in 2007 in Toronto’s Annex neighbourhood. It has since expanded across the Greater Toronto Area as well as locations in Markham, Mississauga, Niagara-on-the-Lake,...
Bookkeeping, what business owners are looking for
Bookkeeping, value-added, business analytics and more
Down-to-earth advices on business planning for entrepreneur, small business owners
Down-to-earth advices on business planning for entrepreneur, small business owners,incorporation, marketing tactics, research, financial forecast,
What if I over contribute my RRSP?
RRSP, Over contribution, tax planning, steps to resolve RRSP over contribution
Tax tips for your 2016 tax return
tax tips, RRSP, TFSA, Sale of Principal Residence, Child care benefit, investment income, tips to help you assess tax situations for 2016
Ready for online payroll service?
Canadian payroll, online payroll applications, Wagepoint, Wave, Quickbooks,SimplePay,FreshBooks,Government remittance,
5 tips in filing your rental property in Canada
Rental property, CCA, Change in use,
Expenses not deductible, books and records
3 key things need your attention on day to day operation
Running business is not a simple job.Today, we are going to talk about 3 key things in finance/accounting on your day to day operation. Bank reconciliation As a lot of businesses write hundreds of checks each month and make many deposits, the task to reconcile the...
Tax tips added to your Black Friday shopping list
Principal residence exemption, TFSA, children fitness credit, children art credit, dividend and income splitting
How to deal with GST/HST issue on the rental property in Canada
Becoming a landlord is a very exciting thing for a lot of people. While you report your rental income in your T-1, remember to take a look at the GST/HST issue on your rental property. If you, as a landlord, fail to collect the GST/HST on the rent, the Canada Revenue...
Here are more resources created for our clients
Make your RRSP profitable again
It’s time for the reminder for all individuals who are eligible for making RRSP contribution. For 2019 taxation year, the deadline is March 2,2020. Here are a few strategies that help you understand the benefit of RRSP contribution. Strategy #1: Please make RRSP...
Gift cards are convenient but GST/HST has no fun!
Gift cards are convenient. They are more like prepaid cards and gain popularity from consumers and merchants. Do you know how HST/GST works around with gift cards? When companies sell gift certificates, according to sec.181.2 of the ETA, the sale is deemed not to be a...
Investment in farmland – tax implications
Many financial advisors have said that investment in farmland may not be comparable to other real estate opportunities as the return is not as attractive as they are published. However, if you consider investment in farmland as an alternative in your investment...
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