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 Hiring a Small Business Accountant
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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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What Is Business Cash Flow?
Original Article Source Credits: Chron , https://smallbusiness.chron.com/
Article Written By: Shanika Chapman
Original Article Posted on: NA
Link to Original Article: https://smallbusiness.chron.com/business-cash-flow-43162.html
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Government to reimburse self-employed workers who repaid CERB
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Staff, Canadian Press
Original Article Posted on: May 27, 2021
Link to Original Article: https://www.advisor.ca/tax/tax-news/government-to-reimburse-self-employed-workers-who-repaid-cerb/
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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 To Budget Your Accounting Expenses
Choosing a good accountant can save you a substantial amount of money every year on taxes, help you be compliant with Canada Revenue Agency (CRA) guidelines, and save you many hassles when dealing with CRA audits. But, to avail of their services, you need to pay them a fee, which in some cases can cancel out the financial savings accountants provide. The fees charged for accounting services can range from $800 to $25000 depending on the services required.
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Tax Tip - There is still time to file your taxes by April 30th, 2021
Original Article Source Credits: CISION, https://www.newswire.ca
Article Written By: NA
Original Article Posted on: Apr 14, 2021
Link to Original Article: https://www.newswire.ca/news-releases/tax-tip-there-is-still-time-to-file-your-taxes-by-april-30th-2021-813839215.html
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How to get through a more challenging tax season
Original Article Source Credits: The Globe and Mail , https://www.theglobeandmail.com/
Article Written By: EVELYN JACKS
Original Article Posted on: MARCH 16, 2021
Link to Original Article: https://www.theglobeandmail.com/investing/globe-advisor/advisor-news/article-how-to-get-through-a-more-challenging-tax-season/
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A Business Tax Preparation Checklist
Preparing for your tax appointment takes quite a bit of time and effort. Moreover, as a business owner, you need to juggle between regular business responsibilities and tax responsibilities which can be challenging to manage together. At Taxxlution Accounting Professionals, we understand that gathering all your documents, preparing your accounts, and filing your taxes on your own can be quite difficult. Not to mention, tax preparation can be viewed as stressful because the information you put together impacts how much you owe the government. Knowing what to expect and taking the time to retrieve all necessary documentation will allow you to handle your taxes quickly and easily.
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Tax Changes Canadians Need to Know About for 2021
Original Article Source Credits: Greedyrates , https://www.greedyrates.ca/
Article Written By: Sean Cooper
Original Article Posted on: March 8, 2021
Link to Original Article: https://www.greedyrates.ca/blog/tax-changes-canadians-need-to-know-about/
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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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What you need before filing your 2020 tax return to save the most money
Original Article Source Credits: CTV NEWS , https://toronto.ctvnews.ca/
Article Written By: Pat Foran
Original Article Posted on: February 9, 2021
Link to Original Article: https://toronto.ctvnews.ca/what-you-need-before-filing-your-2020-tax-return-to-save-the-most-money-1.5302218
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TFSA limit for 2021 released
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: November 20, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/tfsa-limit-for-2021-released/
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Canada Revenue Agency: Reduce Your Tax Bill With 3 Easy Deductions
Original Article Source Credits: The Motley Fool , https://www.fool.ca/
Article Written By: Adam Othman
Original Article Posted on: November 30, 2020
Link to Original Article: https://www.fool.ca/2020/11/30/canada-revenue-agency-reduce-your-tax-bill-with-3-easy-deductions/
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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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TFSA Pension: How a Retired Couple Can Earn $8,300 in Tax-Free Income and Avoid OAS Clawback
Original Article Source Credits: The Motley Fool , https://www.fool.ca/
Article Written By: Aditya Raghunath
Original Article Posted on: October 18, 2020
Link to Original Article: https://www.fool.ca/2020/10/18/tfsa-pension-how-a-retired-couple-can-earn-8300-in-tax-free-income-and-avoid-oas-clawback/
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Feds score big with extra funding of CRAs business compliance programs
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: October 9, 2020
Link to Original Article: https://www.advisor.ca/tax/tax-news/feds-score-big-with-extra-funding-of-cras-business-compliance-programs/
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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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