10 Tips To Confidently Avoid An Audit

10 Tips To Confidently Avoid An Audit

The Canada Revenue Agency (CRA) sends individuals approximately 40,000 audit letters each year, informing them that their personal tax returns are under review. The Canada Revenue Agency will classify it as a review, although it is essentially an audit. While this...
BC Renter’s Tax Credit for 2023

BC Renter’s Tax Credit for 2023

Beginning the tax year 2023, the British Columbia (B.C.) government has introduced a new tax credit for renters to help individuals and families with housing expenses. The BC Renter’s Tax Credit is designed to provide financial relief to low- and moderate-income...
Behind In Your Bookkeeping? 3 Common Worries

Behind In Your Bookkeeping? 3 Common Worries

Acknowledging the Fear: Falling Behind on Bookkeeping We’ve all felt that sinking sensation in the pit of your stomach. The dread creeps in as you realize you’re falling behind on your bookkeeping. It’s a common fear amongst business owners, and...
Launching Your Sole Proprietorship Adventure

Launching Your Sole Proprietorship Adventure

So you want to open a small business or sole proprietorship in your spare time. Let’s face it, a lot of Canadians are doing it. With the rise in mortgage rates and the cost of everything else, we are all trying to make ends meet. Food prices alone are expected...
Should I Incorporate My Business?

Should I Incorporate My Business?

Should I incorporate? This is the question I get asked the most by business owners whose side hustle has grown beyond part-time. The majority of businesses start out as a side hustle. You have an idea or talent, then friends find out about it. It’s not long...
Mastering Your Chart of Accounts

Mastering Your Chart of Accounts

Learning to understand your business accounts goes a long way to identifying financial challenges. It gives you the ability to address them early so they don’t blossom into a colossal crisis.No matter what software you use, bookkeeping is the process of...
CRB & 3 New Benefits are Introduced

CRB & 3 New Benefits are Introduced

CRB & 3 New Benefits are Introduced: Bill C-4 passed in the House of Commons Wednesday, September 30th with unanimous approval. The Canadian Emergency Response Benefit (CERB) is no longer available as of September 26th is now replaced by the Canada Response...