Transitioning To Cloud Accounting: Tips For A Smooth Migration Process

Transitioning To Cloud Accounting: Tips For A Smooth Migration Process

Is your business ready to embrace the future and interested in making a successful cloud migration? Cloud computing is the way of the future, and it offers some real benefits for anyone interested in sustained business growth. It’s accessible, scalable, and secure. Plus, it offers more cost-efficiency than the on-premises options you might have purchased for your staff in the … Read More

The Role Of Technology In Modern Accounting: Trends & Tools Every Firm Should Embrace

The Role Of Technology In Modern Accounting: Trends & Tools Every Firm Should Embrace

Modern accounting has been forever changed by the increase in technology across the accounting industry. From artificial intelligence to financial reporting, accounting firms have access to more sophisticated technology that improves outcomes and saves time. In turn, this enables them to take more clients onto their roster and boosts profits.  What technology should everyone in the accounting profession start to … Read More

Navigating Taxes While Living & Working Abroad

Navigating Taxes While Living and Working Abroad

Taxation can be tricky at the best of times, and when you’re living and working abroad, things can get even more complicated. The Government of Canada will require you to continue paying taxes in Canada if you’re living or working abroad, as long as you maintain significant ties to Canada.    In this article, we will explore the circumstances under … Read More

Key Dates In 2024 For Tax Year 2023

A new year has come, and you know what that means—it’s time to pay your taxes! As the months go on, you’ll receive tax forms and learn about the CPP payments and EI payments you’ve made, the income you’ve earned, and more.   The federal government offers a generous—but tight—timeline for tax returns. You have until April 30th to file … Read More

Remote Work & Tax Implications: What You Need To Know

Remote Work

Remote work can affect your taxes in a number of different ways. Logistically, remote work can make it challenging to understand who you’re supposed to remit taxes to. On the other hand, remote work can come with a number of different potential tax breaks.   In this article, we’re going to cover who you need to pay taxes to while … Read More

Cryptocurrency & Taxes: Navigating The Complex World Of Digital Assets

Cryptocurrency & Taxes: Navigating The Complex World Of Digital Assets

The concept of cryptocurrency is, in and of itself, fairly complex. As digital assets that are used for trading but not, in and of themselves, considered legal tender, there are unique tax implications to the use of cryptocurrency.   In this article, we’ll explore these implications from the perspective of an individual buying and selling cryptocurrency as a hobby or … Read More

Importance Of Financial Statements For Winnipeg Businesses


As a business owner, you undoubtedly have a lot on your plate. From big-picture visioning to the details of the day-to-day, there’s never enough time in the week. For many business owners, the ins and outs of financial statements and reporting can be a major learning curve. But they’re the backbone of business growth and development and cannot be ignored … Read More

Winnipeg Accountant Sees Increase In Social Media Clients

Compass Accounting logo

WINNIPEG, MB:  Compass Accounting Chartered Professional Accountant Inc., a Winnipeg-based Chartered Professional Accountant firm that serves clients in many provinces across Canada, has seen an increase in its number of social media clients.  As income from social media becomes increasingly common, many people involved in the industry are seeking assistance in understanding how to effectively navigate their finances.     As … Read More

Do Influencers Have To Complete Self-Assessment Tax Returns?

filling out tax assessment forms

Influencers play a unique role in society, and they’re often paid quite well for promoting a variety of services on their main platform. They may get paid to take a trip and review a specific hotel, fashion some new swimwear, or play video games in exchange for money. The possibilities for how influencers earn income are numerous. With all of … Read More

Should I Incorporate My Business?

Should I incorporate my business?

At Compass Accounting, some of the most common inquiries we receive are about incorporation. So, if you’re trying to decide whether or not it makes sense to incorporate your business, you’re certainly not alone. For some businesses, incorporation is important from day one. For others, it may never be a necessity at all. A wide range of factors can influence … Read More