Businesses that are acknowledged globally as consistent profit makers all had humble beginnings. The reason behind their phenomenal success is adherence to practices in all systemic processes. Of the different aspects of a business, one of the most vital is to carefully and comprehensively manage cost, inflow, and outflow, and book […]
Accounting can easily be referred to as the lifeline of a business. It not only helps to ensure the smooth running of the business but helps keep the various aspects of the business in line to maximize the bottom line. This is why business owners consider professional bookkeepers for their businesses. […]
Director & Personal Liability In a Tax Alert titled “Abuse of Source Deductions and GST/HST Amounts Held in Trust” CRA warned that businesses must hold source deductions and GST/HST amounts in trust for the government. Penalties and interest and possibly personal liability for the directors will be the result if this […]
CRA “My Business Account” The Canada Revenue Agency is constantly improving its online resources for taxpayers. You can view and print Notices of Assessment, check account balances and much more. For business owners, these resources can be very helpful. You can access them through the “My Business Account” portal. If you […]
