Helpful advice from your local Simcoe accountant on everything from bookkeeping and payroll to taxation in Canada
You May be Able to Postpone Reporting on Some Capital Gains Right Now This is good news if you sell qualifying small-business shares at a gain and want to keep your money invested in another qualifying small business. Canada’s “capital gains rollover” for small business...
If you run a small fleet or trucking business and hire other incorporated truckers to help carry the load, there’s a big CRA change you need to know of that affects how you handle T4A slips and report payments for subcontracted services. TLDR: The bottom...
Tax laws change every year but 2026 is shaping up to be more than just another filing season. Tax specialists are pushing harder into AI, data analytics, and digital filing. In Canada for example, the Canada Revenue Agency (CRA) is preparing automatic filing options for...
2025 Update for Taxpayers and Representatives Businesses and taxpayers across Canada need to take note. The federal government is moving ahead with proposals that would significantly strengthen the Canada Revenue Agency’s (CRA) audit powers. While these changes are still in draft form, the tone is...
We’ve put together a roundup of key 2025/2026 tax updates because as tax season approaches both individuals and small business owners in Ontario and across Canada are starting to organize their paperwork and assess what might be different this year. By understanding what’s changed in...
Professional Accounting Services Saves You Money Hiring professional accounting services saves you money by uncovering opportunities you may overlook. These experts understand Canada’s complex tax laws and financial regulations, and ensure you keep more of your hard-earned income. Today’s young Canadians – especially those aged...
If you have been receiving the CERB payment you’re going to have to pay taxes on it. CERB is considered a source of income. The Government of Canada introduced CERB during the ongoing COVID-19 pandemic. CERB stands for Canada Emergency Response Benefit. This benefit allowed...
According to recent news, the CRA will be issuing CERB payments to Canadians in need of financial assistance for another eight weeks. For those who have not received a CERB payment and don’t know what it is, the CERB benefit is a $2,000 a month...
Two of the most important functions for any business are accounting and bookkeeping. Both accounting and bookkeeping are designed to work with financial data and generate reports pertaining to financial transactions. While these two functions are somewhat similar, there are many differences between the terms...
There are a wide array of expenses that you can write off on your business taxes, many of which you probably unaware of. If you own a small business in Ontario, you likely have a strict budget that you’re attempting to stay under while also...
