As we step into 2023, Ottawa entrepreneurs are looking for ways to refine their bookkeeping practices. This article explores cutting-edge techniques that promise to streamline your financial management tasks. By adopting efficient bookkeeping strategies, you not only save time but also enhance your ability to make informed financial decisions that can propel your business forward. Discover how to transform your bookkeeping processes and set the stage for significant growth in the new year.

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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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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:   CPA Canada , https://www.cpacanada.ca/

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

Original Article Posted on:  January 28, 2021

Link to Original Article:  https://www.cpacanada.ca/en/business-and-accounting-resources/taxation/blog/2021/january/employee-home-office-expenses-2020

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Original Article Source Credits:   QuickBooks Canada , https://quickbooks.intuit.com/

Article Written By:  QuickBooks Canada Team

Original Article Posted on:  NA

Link to Original Article:  https://quickbooks.intuit.com/ca/resources/accounting-errors/most-costly-bookkeeping-errors/

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The COVID-19 pandemic has affected us all in many ways. From businesses to individuals, everyone has incurred some or the other kind of financial consequence. Sadly, some have been affected much worse than others due to sudden lockdowns and the economic slowdown. To assist those suffering from significant financial struggles, the Canadian Government is offering businesses and individuals financial aid and relief.

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Original Article Source Credits:   Chron , https://smallbusiness.chron.com/

Article Written By:  George N. Root III

Original Article Posted on:  NA

Link to Original Article:  https://smallbusiness.chron.com/advantages-bookkeeping-10662.html

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Original Article Source Credits:    Intuit and QuickBooks   , https://quickbooks.intuit.com/

Article Written By:  QuickBooks Canada Team

Original Article Posted on:  NA

Link to Original Article:  https://quickbooks.intuit.com/ca/resources/bookkeeping/ways-improve-small-business-bookkeeping/

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

Article Written By:  Puja Tayal

Original Article Posted on:  October 6, 2020

Link to Original Article:  https://ca.finance.yahoo.com/news/canada-revenue-agency-now-apply-120423492.html

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Whether you run a small or mid-sized business, you need efficient record-keeping, tax planning strategies, sound financial advice, and so much more. For that reason, it is advisable to employ an accounting and bookkeeping firm to handle all the financial aspects of your business. 

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

Article Written By:  NA

Original Article Posted on:  September 17, 2020

Link to Original Article:  https://www.cpacanada.ca/en/members-area/profession-news/2020/march/cra-covid19-updates

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

Article Written By:  NA

Original Article Posted on:  2020-08-25

Link to Original Article:  https://www.canada.ca/en/revenue-agency/services/about-canada-revenue-agency-cra/when-you-money-collections-cra/corporate-debt.html

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

Article Written By:  Rudy Mezzetta

Original Article Posted on:  August 27, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/cra-adds-t4-reporting-requirements-to-validate-benefit-payments/

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

Article Written By: Rudy Mezzetta

Original Article Posted on: July 27, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/cra-extends-tax-payment-deadline-to-sept-30/

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

Article Written By: Puja Tayal 

Original Article Posted on: August 18, 2020

Link to Original Article:  https://www.fool.ca/2020/08/18/canada-revenue-agency-3-tax-breaks-that-you-can-claim/

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

Article Written By : NA

Original Article Posted on : 2020-07-27

Link to Original Article:  https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html

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One of the main requirements to run a successful business is the systematic organization of efforts and information. Without proper organization, you’ll find it tough to work towards your goals as you won’t know the status of your resources or your past achievements. To efficiently maintain order in your business, there are different services you can employ.

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While most people dread filing their taxes, it’s a mandatory requirement for all Canadian citizens above the age of eighteen to file their taxes before April 30. Paying taxes to the government is essential as they are utilized for the nation’s development and to take care of its citizens. Paying your taxes on time also comes with direct benefits for you, like refunds, rebates (if your earnings are low), and financial organization. Moreover, timely preparation of tax returns can help you claim all of the deductions you’re entitled to, prevent penalties and inquiries from the CRA.

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Being a small business owner is an exciting role as there are numerous avenues of business to explore and experience. Right from operations to marketing and resource management, there are several aspects to cater to. However, when it comes to business accounts and tax preparation, it’s best if you leave these tasks to the experts. This is especially true when your company needs to meet the requirements of external parties, like investors and shareholders.

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As a small and medium business accountant, we can help you figure out the best way to use your assets for the most beneficial financial advantage. However, we often have to deal with small businesses who have hired bookkeepers who have not done a professional job, resulting in faulty tax returns and being flagged by the Canada Revenue Agency (CRA).

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