Accounting

GST/HST reporting and options for the small business

By Webmaster|2012-11-30T10:36:49-07:00November 30th, 2012|Accounting, Bookkeeping, Business Management, GST/HST|

When it comes to registering for GST there are a couple of items that will need to be addressed. Firstly, if you are a small business you don't actually have to register for GST nor collect any GST on your invoices until you reach an average of $30,000 in sales annually. That is of course assuming you don't voluntarily register. Technically, even if your sales are below the $30,000 level as discussed above, you can voluntarily register. The advantage to [...]

Setting up your company books and recommended accounting software

By Webmaster|2012-11-23T10:06:05-07:00November 23rd, 2012|Accounting, Bookkeeping, Business Management|

When it comes to record keeping, bookkeepers have many options that are available to them. Trying to pick the right one is one part of the challenge and assessing the cost versus benefits can become the biggest obstacle. The second challenge is how to set up your system and accounts. For small business, the biggest challenge is finding the time because they are too busy making money to worry about the books. Today, most accounting systems are computerized. This approach [...]

Advantages and Disadvantages of Incorporating Your Business

By Webmaster|2017-01-02T20:23:17-07:00November 9th, 2012|Accounting, Corporate Taxation, Personal Taxation|

One of the most common questions that the small business owner has is whether they should incorporate their business. It is question that is difficult to answer as it depends on your individual needs, financial capacity, and the size of your company. The following are some of the advantages and disadvantages to incorporating your business. ADVANTAGES 1. Tax Deferrals & Access to the Small Business Deduction Arguably the best reason to incorporate is because of the tax deferrals it brings. [...]

Accounting

November 30, 2012

GST/HST reporting and options for the small business

Setting up your company books and recommended accounting software

Advantages and Disadvantages of Incorporating Your Business