In the dynamic realm of business, where success hinges on a delicate balance of strategy and execution, the often-overlooked hero in this narrative is bookkeeping. While it may seem like a mundane task, the role of bookkeeping is far from ordinary. It serves as the bedrock upon which the financial health and success of a business stand. In this blog, we delve into the pivotal role that bookkeeping plays in steering businesses toward prosperity, illuminating its significance in the broader landscape of entrepreneurial triumph.
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The Crucial Role of Bookkeeping in Business Success
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Why Your Small Business Needs a Payroll Service
In the intricate tapestry of small business operations, one thread that can either weave success or cause significant disruption is payroll management. The complexities of calculating wages, managing tax withholdings, and staying compliant with ever-changing regulations can be overwhelming for small business owners. In this blog, we unravel the reasons why your small business needs a payroll service, shedding light on the invaluable support it provides in navigating the intricacies of payroll processing.
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5 Benefits of Tax and Accounting Services
In the complex world of business operations, managing finances can be a daunting task. Small businesses and individuals often find themselves overwhelmed by the intricacies of accounting and tax regulations. This is where professional tax and accounting services come into play. At Taxxlution Accounting Professionals, based in Edmonton and serving clients nationwide, we specialize in providing comprehensive solutions tailored to meet the unique needs of small businesses and individuals. In this blog, we will explore the myriad benefits of engaging with tax and accounting services, shedding light on how they can positively impact your financial landscape.
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The Benefits of Hiring a Small Business Accountant
A small business accountant can be an invaluable asset for entrepreneurs starting a new venture. Starting a small business can be a thrilling adventure, but it comes with many responsibilities, including managing finances. While some small business owners may be able to handle their own bookkeeping and accounting, it can quickly become overwhelming and time-consuming. That's where a small business accountant comes in. Hiring a professional accountant can be a game-changer for small businesses, allowing owners to focus on their core competencies while leaving financial management to the experts.
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The Benefits of Bookkeeping for Small Businesses
Bookkeeping is a critical aspect of managing a small business. As the backbone of the global economy, small businesses rely on proper bookkeeping to thrive. Despite this, many small business owners tend to overlook its importance, focusing instead on daily challenges. However, bookkeeping is an essential component of any successful small business. It involves the systematic recording and organizing of financial transactions, which is crucial for making informed business decisions.
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How Chartered Accountants Help Businesses Maximize Tax Savings
For businesses, taxes can be a major cost and a complex undertaking to handle. However, chartered accountants are available to offer their expertise. These financial professionals possess extensive knowledge and experience in tax planning and can assist businesses in maximizing their tax savings. By utilizing their specialized knowledge, businesses can reduce their tax liabilities and retain a larger portion of their earnings.
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CRA tax tips for the self-employed
Original Article Source Credits: Advisor's Edge, https://www.advisor.ca
Article Written By: Staff
Original Article Posted on: April 7, 2021
Link to Original Article: https://www.advisor.ca/tax/tax-news/cra-tax-tips-for-the-self-employed
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How This New Accounting Trend Could Help You
The COVID-19 social distancing protocols have forced us to significantly change our lifestyles, which has affected the economy. Therefore, many industries have moved their operations online, using useful tools to communicate with customers.
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Advantages in Bookkeeping
Original Article Source Credits: Chron , https://smallbusiness.chron.com/
Article Written By: George N. Root III
Original Article Posted on: NA
Link to Original Article: https://smallbusiness.chron.com/advantages-bookkeeping-10662.html
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4 Tips for Improving Your Small Business Bookkeeping
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/bookkeeping/ways-improve-small-business-bookkeeping
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Did you receive double CERB payments? The CRA wants its money back
Original Article Source Credits: Global News, https://globalnews.ca
Article Written By: Emerald Bensadoun
Original Article Posted on: October 27, 2020
Link to Original Article: https://globalnews.ca/news/7424806/cra-double-payments-cerb
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Understanding Canadian Self-Employment Tax Forms
Original Article Source Credits: Intuit and 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/self-employed/canadian-self-employment-tax-forms/
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Everything you need to know about RESPs and how to minimize your familys tax liability
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Jamie Golombek
Original Article Posted on: Sep 04, 2020
Link to Original Article: https://financialpost.com/personal-finance/taxes/everything-you-need-to-know-about-resps-and-how-to-minimize-your-familys-tax-liability/wcm/c0e8ae06-3761-47c5-a7bf-71f36b242b28/
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How to Save Money - 6 Simple Steps for a Healthier Financial Situation
Original Article Source Credits: Greedyrates , https://www.greedyrates.ca/
Article Written By: Meagan Loose
Original Article Posted on: August 18, 2020
Link to Original Article: https://www.greedyrates.ca/blog/how-to-save-money/
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Tax brackets: How to prepare and file your Canadian small business taxes
Original Article Source Credits: Intuit and 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/taxes/small-business-tax-bracket/
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CRA adds T4 reporting requirements to validate benefit payments
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: August 27, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/cra-adds-t4-reporting-requirements-to-validate-benefit-payments/
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Opinion: Its time to end annual tax filing
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Financial Post & Neal Winokur
Original Article Posted on: Aug 07, 2020
Link to Original Article: https://financialpost.com/opinion/opinion-its-time-to-end-annual-tax-filing
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Canada Revenue Agency: How Retirees Can Earn More Money and Avoid the OAS Clawback
Original Article Source Credits: Yahoo Finance , https://ca.finance.yahoo.com/
Article Written By: Andrew Walker
Original Article Posted on: August 7, 2020
Link to Original Article: https://ca.finance.yahoo.com/news/canada-revenue-agency-retirees-earn-120056413.html
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A wealth tax won't work to fix the coming debt crisis: we need a consumption tax like the GST
Original Article Source Credits: The Globe and Mail , https://www.theglobeandmail.com/
Article Written By: PETER VAN DIJK AND GLEN HODGSON
Original Article Posted on: AUGUST 9, 2020
Link to Original Article: https://www.theglobeandmail.com/business/commentary/article-a-wealth-tax-wont-work-to-fix-the-coming-debt-crisis-we-need-a/
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Federal government COVID-19 tax updates
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: July 27, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/cra-extends-tax-payment-deadline-to-sept-30/
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