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When you are stuck behind your desk looking at the shining sun outside the window, your work tasks can quickly float to the back of your mind. With so much going on, how can we regain our focus, complete our tasks, and head out into the beautiful world of summer? Luckily, I have four fool-proof tips that can help.
The LedgersOnline staff has worked with clients around the world, of various sizes and industries. We have witnessed firsthand the potential problems that bookkeeping and accounting can cause for companies, especially when they are small and have put their finances on the back-burner while focusing on growing their business. With this being said, the bookkeeping process is an integral part of every business, and when done properly, can give you a strong understanding of your financial positioning. Below are five simple tips that will give you the opportunity to get up-to-date on your business’ bookkeeping and accounting, and gain an insight into how you can successfully grow your business.
One question that our accountants hear over and over from clients is whether or not their business should incorporate themselves. It is a very difficult question to answer because the process of incorporation is so large and there are so many attributes associated with the progression, that it varies from business to business. By incorporating your business, you are transforming it into a legal entity that exists separately and apart from those individuals who created it and carry on its operations. Corporations have their own liabilities and their own tax rates, which makes it a potentially valuable business decision. With this said, there are a lot of hidden fees and work involved with the process of shifting your business into a corporation. In this post we will look at some key points to consider before you transform your business into a corporate organization.
The PST has been in effect for almost a month now, and we have heard mixed reviews from many of our clients. One thing we have noticed is that our clients from the construction and food industries have had an overwhelmingly busy month. It seems as though their customers have been waiting to start eating out and beginning those major bathroom and kitchen renovations until the 12% HST was reduced back to the 5% and 7% GST and PST.
As Benjamin Franklin once mentioned, “Nothing is certain except for death and taxes”. With this said, we would like to share some great tax deductions that Canadians often miss out on. With the right tax strategy, you are able to utilize tax deductions in order to reduce your income and lower your tax bracket. From student loans to old age, there are deductions available for everyone. Find our list below of 9 credits that you may have overlooked:
It is getting close to the return of the PST, and we can tell that some businesses are getting anxious. On April 1, 2013, the reimplementation of our Provincial Sales Tax and Goods and Services Tax will take the place of the current Harmonized Sales Tax. In this post, we will discuss how small businesses can get ready for the PST, as well as provide a list of helpful webinars, speeches, and tutorials to help you with the process.
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