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Introduction: If you’re a self-employed individual or a sole proprietor operating a small business in Canada, Form T2125 is a crucial document you need to be familiar with. This form is used to report your business income and expenses to the Canada Revenue Agency (CRA). In this blog post, we’ll delve into the details of…

Incorporation is a strategic imperative for small Canadian businesses seeking financial optimization and enhanced accounting practices. Learn when, how and why you should incorporate.

A well-organized estate is one of the most thoughtful gifts you can leave your family.

Managing your finances efficiently requires access to accurate and up-to-date information. One way to achieve this is by regularly downloading your bank statements in a CSV (Comma-Separated Values) file format. This file format is widely compatible with various financial software, making it convenient for budgeting, tracking expenses, and more. Why Downloading in CSV Format is…

Introduction: If you’re starting a business or engaging in self-employment activities in Canada, you may be wondering whether you need a Business Number (BN). The Business Number is a unique identifier issued by the Canada Revenue Agency (CRA) to track business-related activities and fulfill tax obligations. In this blog post, we’ll explore the significance of…

Introduction: Running a restaurant business involves various expenses, from ingredients and equipment to staff wages and marketing. Understanding which expenses are tax-deductible is crucial for maximizing deductions and reducing your tax liability. In this blog post, we’ll explore common business expenses that are eligible for tax deductions in Canada, specifically tailored to restaurant businesses. 1….