When preparing your taxes, a deduction that is often overlooked is carrying charges and interest expenses. These charges are costs you incur to earn income from an investment, but only expenses for non-registered accounts will qualify.
Tips & Advice
We are pleased to provide a variety of resources on accounting, taxation and other related subjects that we hope will be helpful to both individuals and businesses. Read through our blog posts below or browse through our Quick Tools resource menu. Have a question that isn’t answered here? We can help. Simply contact us by email or give us a call at 807-276-6272. We would be happy to meet with you for a free, no-obligation consultation.
Cash is king is a common expression in business. Surprisingly though, few owners or managers take the steps needed to manage their cash flow. By ignoring it, they will sometimes find an empty bank account and nothing to pay their bills with.
Controlling your cash flow helps prepare you for slow periods and plan for needed financing. Peace of mind is also a by-product of proper planning.
Through proper planning, simplifying the process of filing your tax returns for 2022 is easily done. By taking the time to prepare your records, you can speed up the process of receiving a refund and reduce the cost of services provided by your accountant or tax preparer to meet the tax filing deadline.
Reducing the fees associated with the work your accountant does is possible! The great news is that savings are often quite easy to achieve for many owners. If you were only to do one thing, it would be to ensure your records are complete and organized. There are other ways to save as well.
Paying yourself as a small business owner is an important decision. Determining how you do it will be very important concerning finances and taxes.
When thinking about finances, this time of year is one of the most important. People are out in stores or shopping online, and generally, businesses hire more staff. Christmas parties will happen, with presents usually given. In spite of all the hustle and bustle, wise people will consult their accountant so that they're prepared. Here are a couple of quick tips for the holidays.