Accounting Blog | Oshawa, Pickering Accountants

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  • Celebrating Mike Libbey: A Top 50 International ProAdvisor by Insightful Accountant

    Your Bottom Line   |  

    QuickBooks in Courtice

    We are thrilled to announce that Your Bottom Line’s very own Mike Libbey has been recognized as one of the Top 50 International ProAdvisors by Insightful Accountant! This prestigious accolade is a testament to Mike’s dedication, expertise, and outstanding contributions to the accounting industry.

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  • Setting your Business up for Success: QuickBooks 101

    Your Bottom Line   |  

    QuickBooks in Courtice

    Join us for an empowering presentation on “Setting your Business up for Success: QuickBooks 101” Learn the essentials for seamless financial management tailored to your business.

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  • Real Estate Tax Strategies for 2024 to Maximize Your Profit

    Your Bottom Line   |  

    QuickBooks in Courtice

    In this video, we tackle the upcoming tax season, highlighting significant changes, including new bear trust laws and anti-flipping property rules that could impact many. The importance of diligent expense tracking and utilizing tools like the First Home Savings Account (FHSA) to maximize tax benefits are also discussed.

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  • Maximizing Returns: Your Tax Journey Simplified - Free Recording

    Your Bottom Line   |  

    QuickBooks in Courtice

    Embark on a streamlined personal tax journey with our presentation, “Maximizing Returns: Your Tax Journey Simplified”

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  • Lunch with Lorna - Maximizing Returns: Get Ready for Tax Time

    Your Bottom Line   |  

    QuickBooks in Courtice

    Our very own Mike Libbey will help embark on a streamlined personal tax journey, "Maximizing Returns: Get Ready for Tax Time"

    Join us for essential insights tailored for business owners.

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  • Attention: Changes to Tax Reporting for 2023 - Trust Filing Requirements

    Your Bottom Line   |  

    QuickBooks in Courtice

    We want to let you know about important changes to tax reporting for 2023 that may affect you, even if you didn't realize you're part of a trust. Canada is tightening its rules to prevent tax evasion and money laundering, and it's crucial to be informed.

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  • Government of Canada Announces 2024 Automobile Deduction Limits and Expense Benefit Rates for Businesses

    Your Bottom Line   |  

    QuickBooks in Courtice

    Today, the Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates for 2024.

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  • UPDATE - Change to T4's for ALL Employees in 2023

    Your Bottom Line   |  

    QuickBooks in Courtice

    The Canada Revenue Agency has announced that it will require employers to report when employees have been eligible to access dental insurance or dental coverage of any kind, on annual T4 and T4A slips, beginning in 2023.

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  • Money Management for Freelancers and Gigworkers

    Your Bottom Line   |  

    QuickBooks in Courtice

    In today's gig economy, managing finances is paramount for freelancers and gig workers. This presentation is tailored for those engaged in platforms like Instacart, Skip the Dishes, Uber, and Etsy, as well as for marketers, influencers, and those pursuing side hustles. Dive deep into the essentials of managing money, navigating taxes, and maintaining an organized financial record. Discover the transformative power of QuickBooks Online and how it can be a game-changer for your business, ensuring your bookkeeping remains in impeccable order.

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  • Maximizing Education-Related Tax Deductions in Canada: 7 Tips for Canadian Students in 2023

    Your Bottom Line   |  

    QuickBooks in Courtice

    As the summer months come to an end and students across Canada gear up for the back-to-school season, it's essential to understand and utilize the various education-related tax deductions available. This comprehensive guide is designed to help Canadian students make the most of these deductions, such as those for tuition, student loan interest, and more. By grasping the intricacies of these tax benefits and maintaining accurate records, you can potentially ease your financial burden and optimize your tax return during the tax season.

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  • Top 5 Bookkeeping Mistakes to Avoid for a Healthier Bottom Line

    Your Bottom Line   |  

    QuickBooks in Courtice

    Effective bookkeeping forms the foundation of a successful business. It's not just about managing numbers; it's about understanding your financial health and making informed decisions. At Your Bottom Line Accounting Firm, we understand the importance of accurate and efficient bookkeeping. In this blog post, we'll explore the top five bookkeeping mistakes to avoid, helping you maintain a healthier bottom line and ensuring your business's long-term success.

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  • Mike Libbey Meets Robinson Smith: Insights on the Smith Manoeuvre

    Your Bottom Line   |  

    QuickBooks in Courtice

    In this exciting video, we bring you a meeting between financial expert Mike Libbey and Robinson Smith, the creator of the revolutionary investment strategy "The Smith Manoeuvre." Join us as they discuss the ins and outs of this innovative approach to wealth building and learn how it can help you achieve your financial goals. Don't miss out on this opportunity to gain valuable insights from the mastermind behind "The Smith Manoeuvre."
     

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  • 2023 CRA Summer Benefits Cheat Sheet

    Your Bottom Line   |  

    QuickBooks in Courtice

    We know how fast a Canada summer can pass us by, so we wanted to let you know about the Canada Revenue Agency (CRA)’s good news before you head off-grid to enjoy all of the natural wonders Canada has to offer!

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  • From Hassle to Harmony: Simplifying the Payroll Process

    Your Bottom Line   |  

    QuickBooks in Courtice

    Payroll processing can be a time-consuming and complex task for businesses in Ontario. From calculating employee wages and deductions to ensuring compliance with employment standards and tax regulations, payroll management requires careful attention to detail.

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  • Avoiding Common Accounting Mistakes: Lessons for Canadian Entrepreneurs

    Your Bottom Line   |  

    QuickBooks in Courtice

    Running a successful business requires more than just a great product or service—it also demands diligent financial management. For Canadian entrepreneurs, understanding and avoiding common accounting mistakes is crucial for maintaining financial stability and fostering long-term growth.

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  • What you NEED to know about the Tax-Free First Home Savings Account!

    Your Bottom Line   |  

    QuickBooks in Courtice

    In Budget 2022, the government proposed the introduction of the Tax-Free First Home Savings Account (FHSA). This new registered plan would give prospective first-time home buyers the ability to save $40,000 on a tax-free basis. Like a Registered Retirement Savings Plan (RRSP), contributions would be tax-deductible, and withdrawals to purchase a first home—including from investment income—would be non-taxable, like a Tax-Free Savings Account (TFSA).

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  • Welcome to YBL Connect - Our Intelligent Tax Questionnaire!

    Your Bottom Line   |  

    We have exciting news to share! We're excited to announce the launch of our new platform, YBL Connect, aimed at streamlining the tax filing process, reducing the back-and-forth of emails and enhancing security measures beyond what email can offer.

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  • The Essential Guide to Getting Ready for Tax Time! (2022 Edition)

    Your Bottom Line   |  

    QuickBooks in Courtice

    Tax season is a stressful time for many Canadians - well, anybody really, but it doesn't have to be. With the right preparation and understanding of the process, filing taxes can be an easy and efficient process.  From understanding the tax deadlines to claiming eligible deductions and credits, this guide provides Canadians with the essential tips and resources to make tax time easier. 

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  • Unpacking the Tax Consequences of Purchasing a Rental Property in Canada: What You Need to Know About Deductions

    Your Bottom Line   |  

    QuickBooks in Courtice

    Take the time to understand the tax implications of owning a rental property in Canada and be sure to
    take advantage of all the deductions and credits available to you. Doing so can help you maximize your
    return on investment and ensure you follow all tax laws and regulations.

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  • 2023 Automobile Deduction Limits and Expense Benefit Rates

    Your Bottom Line   |  

    QuickBooks in Courtice

    Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2023.

    READ MORE »