Income Tax 2020: Everything You Need To Know To File

Before we get into the meat of this article, we must confess that it doesn’t contain everything you need to know to file; we’d need to know your exact financial situation to help with that. Rather, this is a quick overview of some of the most relevant tax changes in 2020. New Deadline This might be the most important change, … Read More

Adjusting For COVID-19 In Business Valuations

The value of your business may face significant changes due to COVID-19. To be blunt, these changes will mean a decrease in valuation for many businesses. Nonetheless, it’s important to keep your business valuation and projections honest. There are a number of things to consider when re-evaluating your business due to COVID-19. Remember that business planning is an ongoing process, … Read More

Accounting Considerations Related to COVID-19

COVID-19 has brought about a lot of changes, and changes are likely to continue as time goes on. We may see gradual re-openings and re-closures as governments try to balance the health of the economy with the health and safety of people. There are many accounting considerations for businesses these days, too many to enumerate in this short article, so … Read More

Remote Work: Tips & Tools For Working Remotely

  Long before COVID-19 hit, remote work was on the rise. Millennials love freelance work, and more and more companies have begun to accommodate remote work. Given our current circumstances, it’s safe to say remote work is at its highest rates in – well, probably all of history. There are so many tools and tips to list on this subject … Read More

Tips For Running Your Business From Home

Given our current circumstances, it’s no surprise telework is on the rise. A lot of us are working from home. Fortunately, there are a number of people who have run home businesses for years, and the tips and tricks they’ve come up with will serve us all well now. There are far too many tips to list in one short … Read More

The Benefits Of Cloud Accounting

The tech industry is all about buzzwords; one of the most popular of these is “the cloud”. The cloud is pretty much everything that isn’t run locally on your computer. Those of you who don’t have cloud accounting yet should get it right away. By all means, shop around, look at the products that are available, talk with your CPA … Read More

How COVID-19 Is Affecting Small Businesses

Explaining how COVID-19 is affecting small businesses is impossible in one blog post. To be blunt, the situation is dire for many small businesses. Small business owners are worried about laying off staff, losing income, and worse. COVID-19 is affecting many small businesses in terrible ways, especially those in the hospitality industry.    Business owners are doing what they always … Read More

How to Apply for a CRA My Account

Are you looking to set up a CRA My Account? It’s a two step process. The first is to complete the application online. After that, you will be sent a letter with a security code by mail. The letter includes instructions as to how to enter the security code. Your CRA My Account will be fully activated once you enter … Read More

Understanding The Impact Of High Employee Turnover

Every industry’s turnover rates differ. Some are much higher than others for obvious reasons; work like fishing and businesses that are particularly susceptible to seasonal peaks and valleys will see much higher turnover rates than other businesses. You might also see particularly high turnover rates in minimum wage jobs, as employees find other companies who will pay them more. Appreciating … Read More

Which Debts Should You Pay Off First?

  You never want to make a choice between debt payments; optimally, your debt should be low enough that monthly payments towards each debt are sufficient to lower the principal (the part of the debt that isn’t interest). There are, however, times when you might not be able to pay all of your debts, and you need to choose which … Read More