How To Prepare For A Government Audit

getting a letter that you are being audited

  Whether you run a Canadian business or you’re a Canadian citizen, you can get audited by the CRA. There are a lot of potential triggers for audits – the CRA has risk assessment algorithms they use to determine whether or not an entity should be audited. Regardless of why you’re audited, it’s important to know the steps you can … Read More

Winnipeg Registered CPA Firm Turns Focus Towards Improving The Remote Accounting Experience To Assist Clients During COVID-19

new compass accounting logo

WINNIPEG, Canada – Compass Accounting, a forward-thinking and innovative registered CPA firm based in Winnipeg, Manitoba, is proud to announce that they have turned their focus toward remote accounting to better assist their clients during the current pandemic.  The company understands that business owners are facing a range of different issues due to COVID-19, and so rather than adding to … Read More

What Is The Difference Between Business & Professional Income?

showing different streams of income

Go to the Government of Canada’s webpage on Business and Professional Income, and you’ll be greeted with – well, a lot more information than you might need. You have to do a lot of looking around to figure out what the difference is. You might think it’s a good idea to go to the Business or Professional Income page, but … Read More