LedgersOnline Blog

For all things accounting and bookkeeping.

The past two years has been filled with exciting growth for the LedgersOnline team, and we are happy to announce the recent move into our new office space located in the heart of North Vancouver, BC. With so many new faces on the LedgersOnline bookkeeping and accounting team, our new office is much larger and accommodating to our growing staff.

Irrespective of the form of business in which you operate, if you are going to have employees then you will have to contend with payroll deductions and remittances. The brief summary that follows will give you some guidance in the rules and regulations of the various taxing authorities.

A Corporation's first tax return is very important. Several elections are made which will dictate the way the corporation is taxed for many years to come. Some of the more significant elections that may need consideration are outlined below:

There are only two certainties in life, death and taxes. Once you start your new business, you will have to deal with income taxes. The Canadian Income Tax Act is extensive and it can take years of study and training to master many of its rules and regulations. The following discussion is not an all-encompassing discussion of the tax issues and compliance issues you and your business might face. It does, however, aim to provide guidance on complying with the laws and regulations within the Income Tax Act.

A crucial yet often over looked part of starting a new business is ensuring you have appropriately complied with the plethora tax and information filing requirements from various government authorities. Failure to comply with these requirements on a timely basis, often results in punitive penalties being assessed.

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About Us

Providing bookkeeping and accounting services to businesses like yours for over 10 years.