Monthly Archives: February 2015

Accounting for Tax Time

It’s March! The days are getting longer, the weather is getting warmer, and personal tax season is upon us. I would like to remind you of the April 30th filing deadline and offer our assistance in preparing your 2014 T1 Personal Tax Return. We are happy to assist owners of client businesses with their personal tax […]

Read More

Why Do Small Businesses Need Financial Statements?

There are few questions more shocking to an accountant than “Why do we need financial statements?” Years of specialization and familiarity lead most accountants to take the answer to this question for granted. Indeed, when asked this question, many accountants can only give a cursory answer that usually begins with muttering the phrase “performance measurement” […]

Read More

February is T4 Month

February is upon us and the news from Pennsylvania is that Punxsutawney Phil saw his shadow this morning — which means six more weeks of winter. The other bad news is it’s time to file your 2011 T4’s and T5’s. A T4 needs to be completed and filed for each person you employed in 2014 by the end […]

Read More

What Can I Deduct as a Business Expense?

In his days as a lawyer traveling the Eighth Judicial Circuit, Abraham Lincoln once asked an adversary in court, “How many legs does a sheep have?” The man replied, “Four, of course,” Lincoln went on to ask “And if you were to call a tail a leg, how many legs then?” The man replied, “Well […]

Read More

Why Incorporate Your Business

When starting a small business, you have a few choices on how to legally structure it. You can organize your business as a corporation, sole proprietorship, or a partnership. What you ultimately choose will have a significant effect on the amount you pay in taxes. This article will focus on the various advantages of incorporation […]

Read More

Accounting Policies and Procedures

Do you know your businesses’ accounting policies and procedures?  Are they optimized for your specific type of business, and your operations individual needs? If you were audited tomorrow, would your books stand up to Federal scrutiny? Did you just break out in a cold sweat at the thought of a bunch of accountants poring over […]

Read More