Our very own Mike Libbey has shared a  presentation focused on Managing Financials for Gig Entrepreneurs & Freelancers and you're invited to view i

Learn a smart tax strategy for Canadian homeowners that turns non-deductible debt into deductible debt, cutting down taxes and speeding up your path to financial freedom

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.

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.

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.

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

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.

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.

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

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.

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.

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.

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.

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."
 

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!

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.

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.

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).

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.

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.