Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2023.
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2023 Automobile Deduction Limits and Expense Benefit Rates
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Six Most Common Accounting Mistakes People Make
Business accounting involves more than maintaining books for tax purposes. Accurate accounting plays a vital role in helping you save money, increase profits, identify where budget cuts must be made and which areas need added resources.
Unfortunately, in an attempt to scale the business, most small business owners try to minimize the time and effort spent on accounting and financial management. As a result, they often overlook the little things that can have a huge impact on the company. This impact could be anything from a loss of financial flexibility to unpaid taxes, fraud, theft and even embezzlement.
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8 Simple Steps to Prepare for the 2021 Tax Season
Find out what's new for the 2021 tax season and your filing and payment due dates. Begin by gathering your documents to report income and claim deductions, and choose how you want to file and send your completed tax return to the CRA. You can find our 2021 Tax Checklist at the end of this email, free to download!
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COVID-19 Business & Benefit Cheat Sheet: UPDATED 02/04/2022!
Please note, this is simply a general overview on the major benefits and subsidies available to businesses. There are many more changes to come and many more benefits that exist because of COVID-19. We recommend you always consult with an accounting professional about your specific situation.
Stay tuned for more as we'll keep this post updated as best we can.
Talk soon and stay safe.
Article Written By Mike Libbey
Link to Original Articles:
https://www.canada.ca/…/reve…/campaigns/covid-19-update.html
https://www.canada.ca/…/departm…/economic-response-plan.html
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The Your Bottom Line Difference
What sets us apart from the rest of our competitors is that we take a very different view than most firms when it comes to the concept of ‘TEAM’. Our view is simple: the TEAM comprises of US and YOU, not just us. That’s why we work so hard to build a solid relationship with you as a client. It is this, which sets us apart from all other accounting firms. In fact, TEAM ETHOS is the key ingredient in forging a successful relationship with you.
Thanks for stopping by our blog. If you’re looking for more information about Your Bottom Line, you’ve come to the right place.
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How to fill your end-of-year cash flow gaps and get ‘positive’ in 2020
Original Article Source Credits: Quickbooks, https://quickbooks.intuit.com/
Article Written By QuickBooks Canada Team
Original Article Posted on : NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/cash-flow/cash-flow-gaps-2020/
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Take advantage of tax changes this year
Original Article Source Credits:The globe and mail, https://www.theglobeandmail.com/
Article Written By TIM CESTNICK
Original Article Posted on : MARCH 6, 2020
Link to Original Article: https://www.theglobeandmail.com/investing/personal-finance/taxes/article-take-advantage-of-tax-changes-this-year/
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Seniors: tips to help you this tax season!
Original Article Source Credits: canada, https://www.canada.ca/
Article Written By NA
Original Article Posted on :NA
Link to Original Article: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-filing-season-media-kit/tfsmk-senoirs-tips-help-tax-season.html
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Understanding the difference between an RRSP and TFSA
Original Article Source Credits: bnn bloomberg, https://www.bnnbloomberg.ca/
Article Written By Dale Jackson
Original Article Posted on : Jan 31, 2020
Link to Original Article: https://www.bnnbloomberg.ca/understanding-the-difference-between-an-rrsp-and-tfsa-1.1382807
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Cost Accounting: Prime Costs vs. Conversion Costs
Original Article Source Credits: Quickbooks , https://quickbooks.intuit.com/
Article Written By QuickBooks Canada Team
Original Article Posted on :NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/cash-flow/cost-accounting-prime-costs-vs-conversion-costs/
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What’s new for tax professionals and tax preparers for the 2020 tax-filing season?
Original Article Source Credits: Canada, https://www.canada.ca/
Article Written By NA
Original Article Posted on : 2020-01-23
Link to Original Article: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2020/what-new-tax-professionals-tax-preparers.html
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Using Different Pay Codes
Original Article Source Credits: quick books intuit, https://quickbooks.intuit.com/
Article Written By QuickBooks Canada Team
Original Article Posted on : NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/payroll/using-different-pay-codes/
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How to Calculate the True Cost of a New Employee
Original Article Source Credits: QuickBooks , https://quickbooks.intuit.com/
Article Written By Joy Blenman
Original Article Posted on : NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/managing-people/how-to-calculate-the-true-cost-of-a-new-employee/
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Canada Revenue Agency: The #1 Giant TFSA Mistake to Avoid in 2020
Original Article Source Credits: he Motley Fool Canada, https://www.fool.ca/
Article Written By Adam Othman
Original Article Posted on : January 1, 2020
Link to Original Article: https://www.fool.ca/2020/01/01/canada-revenue-agency-the-1-giant-tfsa-mistake-to-avoid-in-2020/
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Tax changes, new RRSP rules: Here’s what to watch out for in 2020
Original Article Source Credits: Global News, https://globalnews.ca/
Article Written By TERRY PEDWELL
Original Article Posted on : January 1, 2020
Link to Original Article: https://globalnews.ca/news/6352374/rrsp-tax-changes-2020/
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A Guide to Finance & Accounting for Small Business Owners
Original Article Source Credits: QuickBooks , https://quickbooks.intuit.com/
Article Written By QuickBooks Canada Team
Original Article Posted on : NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/finance-accounting/guide-for-small-business-owners/
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9 Strategies to Reduce Business Expenses
Original Article Source Credits: Quickbooks.intuit , https://quickbooks.intuit.com/
Article Written By: QuickBooks Canada Team
Original Article Posted on : NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/expenses/reduce-business-expenses/
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Financial Analysis: Cash-to-Cash Cycle
Original Article Source Credits: Quickbooks.Intuit , https://quickbooks.intuit.com/
Article Written By: QuickBooks Canada Team
Original Article Posted on : NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/cash-flow/financial-analysis-cash-to-cash-cycle/
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Interest rates for the first calendar quarter
Original Article Source Credits: Canada.ca, https://www.canada.ca/
Article Written By NA
Original Article Posted on : 2019-12-19
Link to Original Article: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2019/interest-rates-first-calendar-quarter.html
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Refinance Your Business Debt
Original Article Source Credits: Quickbooks , https://quickbooks.intuit.com/
Article Written By: NA
Original Article Posted on : NA
Link to Original Article: https://quickbooks.intuit.com/ca/resources/cash-flow/refinance-your-business-debt/