Running a business isn’t always a very easy matter. It becomes even more tedious when you need to get your finances right in terms of managing it. There can be so much to do that you are forced to start early and end very late at night when you are the owner of the business.…
Our firm does not do taxes, even though I did them for 12 years. When I began my practice that was a service I simply did not want to offer. However, we do partner with CPAs and other tax professionals to be certain that the guidance we provide our clients is in line with the…
An expert bookkeeper makes a significant difference to your business as well as its success. When searching for a bookkeeper, do not just follow geographical convenience. Make sure they are expert in tax laws for your business instead of their base location. Select your bookkeeper wisely. Look for proactive bookkeepers who actively engage with the…
Every tax season thousands of truck drivers leave hundreds of thousands of dollars in tax deductions on the table. This is due in large part to inadequate planning and poor bookkeeping. In addition, many tax professionals do a poor job at properly informing truckers of the many different tax breaks available to them. Truck drivers…
An Individual Taxpayer Identification Number is a United States tax identifying number issued to the individuals who are supposed to pay the federal taxes but do not possess a Social Security Number. They use this number as a legal proof to open bank accounts, apply for loans and process all the other financial activities. It…
If you are about to start a business or have already got up and running, then you may not yet have thought about what happens when you reach the end of your first year of trading. It can seem a long way off and there are so many other things to worry about when setting…
The mere mention of taxes often inspires fear in the minds of taxpayers. Whether you’re an individual or a small business owner, filing a tax return is something you simply can’t avoid. The old days when anyone could fill out a simple return are fast disappearing. This is especially true if you have a complicated…
CRA Income Tax Audit – Toronto Tax Lawyer Introduction As Toronto tax lawyers we deal with CRA audits and auditors on a daily basis. So what is a tax audit? This article will explain what you can expect to happen if you are audited for taxes. The Canadian income tax system is based on self…
Every property has some value. The value of the property or asset actually defines how useful the property is and if it can be invested or not. It is important to keep the value of the property known and updated. The process of valuation of a property or asset is done by experts and not…
There’s plenty of potential savings in your current monthly budget. The cash savings are hidden by our own human programming to make things simple. You see, most of us take what’s already out there, versus reinventing the wheel. When it comes to family budgeting, the examples available online do the job, for the most part,…