Category Archive

Tax season is finally here, and though there are some exceptional circumstances this year, as of the writing of this article, one thing has stayed the same: your taxes are due at the end of April. That means by April 30th, 2021, your 2020 taxes must be filed. Before we go any further, it’s worth noting that we’re assuming people … Read More

Sometimes, terms are deceptively simple. This is not the case with today’s term – it’s exactly as simple as it seems. An accounting period is, quite literally, a period of time in which accounting is being done. Your first quarter is an accounting period, and so is the fiscal year. What makes accounting periods interesting is that they don’t necessarily … Read More

Supporting local businesses has always been important. By supporting the people who live and work in your neighbourhood, you’re helping your community grow and flourish. Culture and commerce thrive when local businesses do. This year, many local businesses have had to shutter their doors. In the retail space, these businesses may usually rely heavily upon foot traffic – which, for … Read More

  Whether you run a Canadian business or you’re a Canadian citizen, you can get audited by the CRA. There are a lot of potential triggers for audits – the CRA has risk assessment algorithms they use to determine whether or not an entity should be audited. Regardless of why you’re audited, it’s important to know the steps you can … Read More

Go to the Government of Canada’s webpage on Business and Professional Income, and you’ll be greeted with – well, a lot more information than you might need. You have to do a lot of looking around to figure out what the difference is. You might think it’s a good idea to go to the Business or Professional Income page, but … Read More

Payroll Deductions can seem complex – we’re going to go over the basics in an effort to simplify things. For our purposes, we’re going to analyze payroll deductions in Manitoba, as that’s where most of our readership lives. That said, the basics are the same for every province. You must deduct for: Federal income tax Provincial income tax The Canada … Read More

Warning: very mild Mr. Robot spoilers ahead. One of the most important lessons in Mr. Robot, the dystopian alt-present hacker show by Sam Esmail, is that the best hackers aren’t necessarily using algorithms to crack your password. In the IT world, it’s much easier to defend than it is to attack, and high-level encryption is almost impossible to hack unless … Read More

There are a lot of reasons to focus on seasonal marketing. You might have seasonal inventory you’re excited to sell, you might want to profit from seasonal trends, or you might quite simply love getting into the spirit of each season. No matter what your reason, there are many ways you can tailor your marketing to fall shoppers: Focus on … Read More

Payroll is one of the more complicated elements of business finance and accounting. We’re going to go over a few of the common challenges you might experience when dealing with payroll, and how to tackle those challenges: Employee Classification Is the person working for you an employee or a contractor? You have very different responsibilities to the two. When you … Read More