by admin | Oct 9, 2017 | Books + beyond, Tax tips
After incorporating the business, you may come up with the question how to select a fiscal year-end. You may be buried with a lot of filing deadlines already, HST, payroll and potentially WSIB monthly filing as well. How about your corporate income tax filing...
by Alex | Sep 12, 2017 | Books + beyond, Tax tips
In the construction business, a holdback is common.It works like this: the customers keeps part of the payment when they are satisfied with the quality and completion of the project based on the agreement. What are the tax implications for home builders/contractors?...
by Alex | Sep 1, 2017 | Books + beyond, Tax tips
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...
by admin | Aug 29, 2017 | Tax tips
Have you heard about Federal Finance Minister’s 2017 consultation on tax planning using private corporations? Do you know who are going to be affected and the extent that the tax proposals may impact? What can you as business owners do now? Here is the video...
by admin | Jun 6, 2017 | Tax tips
If I tell you every tax season is smooth as butter, that is not true. I had one new client, who came to tell me he over contributed RRSP for 30k for a number of years. I asked him how this could happen and how come it was so late to notice the issue. The answer was...
by admin | Feb 22, 2017 | Tax tips
This article is to highlight areas when you assess tax situations for 2016. We hope those tips can help you maximize the tax saving for the year. Maximize the deductions Make sure you utilize all the available tax-deferred plans. We always talk about RRSP but don’t...
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