Maximizing Tax Deductions: Good Bookkeeping Can Save You Money Are you tired of paying too much in taxes every year? One way to reduce your tax liability and save money is by maximizing your tax deductions. And the key to doing that is good bookkeeping. Proper bookkeeping practices can help you keep accurate financial records, […]

Since the start of 2022, construction costs have jumped by just over 8%. This increase contributes to the 33% increase in costs since the pandemic’s start.  For construction businesses, these rapid changes are forcing reevaluations of how they run their business and especially how they manage their cash flow.  A successful business demands a strong […]

The construction industry presents plenty of opportunities for accounting mistakes. Many of these mistakes can be costly.  Here are six of the most common accounting mistakes in the construction industry and why you must avoid them.  1. Completing Undocumented Work  Oftentimes, when a project gets underway, additional work is added or the original plan for […]

For those in a trade business, it is critical to have all of your business systems working at their best.  Are they strong and compatible with each other? Are they helping you reach your business goals? Do you understand the processes and feel confident in their functionality? Or are they competing against each other and […]

Every growing trade business needs the support of financial pros, and you’ve likely weighed the options of outsourcing CFO services or having a CFO in-house.  Outsourcing can be a smart alternative to hiring in-house, especially for successful companies that are not of the size or complexity that requires a full-time CFO. There are pros and […]

Running a trade business can be hectic, but accounting technology makes it easier.  It removes the need for manual entry, cutting out the tedious tasks that take away from the time you need to manage your business.  Accounting technology also gives you the ability to see exactly where you stand in all areas of your […]

What can your trade business gain by automating bookkeeping? The answer is: a lot.  If you’re still manually managing your books you’re likely seeing plenty of errors, losing your own and your employees’ valuable time, and working with numbers that are several entries behind.  These can pose as major roadblocks for any growing business.  Instead […]

Nobody likes filing or paying taxes, but when taken seriously, personal income tax considerations can save you money.  Every year, you have to get ready for tax season, and it’s always hard to be certain you’ve thought of everything so you can proceed with confidence when you file with the CRA.  It becomes especially complex […]

When filing taxes, saving money is always the goal, so personal tax considerations are essential to ensure you don’t overpay.  While you should pay what you owe, you certainly don’t need to pay more than you have to. That’s no way to live your ideal lifestyle.  Before you file, you may want to look into […]

NFT taxes are at the forefront of anyone’s thoughts if they are investing and profiting from Non-Fungible Tokens (NFTs).  However, because NFTs are a relatively new innovation, understanding how to pay taxes on these digital assets can be confusing. Tax laws surrounding them are constantly changing, making it difficult to keep up. This is why […]