Sound bookkeeping is the foundation of financial management for businesses in Ottawa, ON. Yet, for many entrepreneurs, the world of bookkeeping can be overwhelming. Understanding bookkeeping basics, such as debits, credits, and financial statements, is vital for maintaining accurate financial records and making informed business decisions. In this blog, we'll break down these essential concepts to help business owners grasp the fundamentals of bookkeeping.
 

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As Ottawa, ON, experiences shifts in tax regulations and reforms, businesses must stay informed about the impact these changes can have on their corporate tax preparation. Tax reform measures can significantly affect a company's financial landscape, and understanding these implications is essential for compliance and financial planning. In this blog, we'll delve into the key aspects of tax reform that businesses must be aware of and how they can navigate these changes effectively.
 

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As the year comes to a close, businesses in Ottawa, ON, have a unique opportunity to optimize their tax benefits through strategic year-end tax planning. Businesses can potentially reduce their tax burden and increase their bottom line by making well-informed financial decisions before the year ends. In this blog, we'll explore essential tips for businesses to make the most of their tax planning, ensuring they stay financially sound and compliant.

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Season’s Greetings from Zak Accounting Professional Corporation. We wish you and your family a wonderful holiday season and a happy, healthy, and prosperous New Year 2022!

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If you’re a startup, business owner, or entrepreneur, accounting is often the last thing on your mind. Maybe you’re too busy developing and selling your products or services or planning strategic developments. If you put off maintaining your accounts, you could risk financial chaos.

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Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Rudy Mezzetta

Original Article Posted on:  June 16, 2021

Link to Original Article:  https://www.advisor.ca/tax/tax-news/tfsa-holders-on-the-hook-for-overcontribution-tax-even-if-account-is-worthless/

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Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:  Andrew Beattie

Original Article Posted on:  May 6, 2021

Link to Original Article:  https://www.investopedia.com/articles/pf/07/canadian_tax.asp

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Whether you’re an individual or a business owner, all Canadian citizens must file taxes each year. However, organizing your financial affairs to prepare your taxes can be a daunting and complicated task. Moreover, with the tax laws constantly changing each year, it can be challenging to determine which ones apply to you.

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Original Article Source Credits:   Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By:  Puja Tayal

Original Article Posted on:  May 31, 2021

Link to Original Article:  https://ca.finance.yahoo.com/news/canada-revenue-agency-crb-extension-125127636.html

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Original Article Source Credits:   CPA Canada , https://www.cpacanada.ca/

Article Written By:  MICHELLE SINGERMAN

Original Article Posted on:  5.17.2021

Link to Original Article:  https://www.cpacanada.ca/en/news/canada/2021-05-17-small-biz-setup

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Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Staff, Canadian Press

Original Article Posted on:  May 27, 2021

Link to Original Article:  https://www.advisor.ca/tax/tax-news/government-to-reimburse-self-employed-workers-who-repaid-cerb/

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Original Article Source Credits:   Newswire , https://www.newswire.ca/

Article Written By:  NA

Original Article Posted on:  Jun 03, 2021

Link to Original Article:  https://www.newswire.ca/news-releases/tax-tip-june-15-2021-is-the-deadline-for-self-employed-individuals-to-file-their-2020-income-tax-and-benefit-return-892090218.html

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Original Article Source Credits:   Canadian Taxpayers Federation , https://www.taxpayer.com/

Article Written By:   Jay Goldberg 

Original Article Posted on:  2021/04/18

Link to Original Article:  https://www.taxpayer.com/newsroom/let-the-stimulus-come-from-taxpayers,-not-governments

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Original Article Source Credits:   Yahoo Finance , https://ca.finance.yahoo.com/ 

Article Written By:  Jessy Bains

Original Article Posted on:  April 16, 2021

Link to Original Article:  https://ca.finance.yahoo.com/news/cra-warns-covid-19-benefits-could-be-delayed-2-months-if-tax-filing-deadline-missed-182812751.html

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Original Article Source Credits:  Canada.ca , https://www.canada.ca/ 

Article Written By:  NA

Original Article Posted on:  2021-03-25

Link to Original Article:  https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit.html

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Original Article Source Credits:   Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By:  Puja Tayal

Original Article Posted on:  April 5, 2021

Link to Original Article:  https://ca.finance.yahoo.com/news/cra-covid-benefits-save-stimulus-120144392.html

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Original Article Source Credits:   CPA Canada, https://www.cpacanada.ca/

Article Written By:  NA

Original Article Posted on:  April 9, 2021

Link to Original Article:  https://www.cpacanada.ca/en/business-and-accounting-resources/taxation/canadian-tax-news

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Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  2021-02-04

Link to Original Article:  https://www.canada.ca/en/revenue-agency/campaigns/about-canada-revenue-agency-cra/canada-revenue-agency-hiring.html

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Original Article Source Credits:   CPA CANADA , https://www.cpacanada.ca/

Article Written By:  Bruce Ball, FCPA, FCA, CFP

Original Article Posted on:  February 25, 2021

Link to Original Article:  https://www.cpacanada.ca/en/business-and-accounting-resources/taxation/blog/2021/february/gst-hst-proposals-for-digital-sales

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Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Puja Tayal 

Original Article Posted on:  March 5, 2021

Link to Original Article:  https://www.fool.ca/2021/03/05/attention-canadians-the-cra-increased-13000-crb-to-19000/

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