Bookkeeping stands as an essential aspect of every business operation because it allows companies to maintain precise financial records and make better business decisions. The importance of bookkeeping lies in
How to do bookkeeping in Excel? It’s simple, Excel functions as a budget-friendly system that helps manage financial operations. Small businesses can track financial data, income, expenses, and cash flow
There are several reasons an individual might convert part of their home into a rental property. However, this action can have significant income tax implications, including potentially limiting access to
In the Spring of 2025, CRA will change the default method of correspondence for most businesses to online only. This means that most businesses will receive their notices of assessment,
As of June 20, 2024, certain psychotherapy and counselling therapy services have become exempt from GST/HST. This means that those providing these exempt services are no longer required to collect
Due to the proposal to deny deducting expenses related to non-compliant short-term rentals, some owners may consider selling their short-term rental property. While it is widely discussed that gains on
In late 2023, the Federal government announced its intention to deny income tax deductions for expenses by non-compliant operators of short-term rental properties (such as Airbnb or VRBO properties rented
A July 22, 2024 Federal Court case found that CRA’s refusal to accept and provide tax refunds for corporate tax returns filed more than three years after the relevant year-end
The 2024 Federal Budget proposed to increase the capital gains inclusion rate from 50% to 2/3 of the actual gain, effective for capital gains realized on or after June 25,
Copyright © 2024 Nelson Huang, CPA. All rights reserved.
SITE BY BEAZY MARKETING
