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Why online bookkeeping ?

Here are some reasons why going online might make sense for you. No need to find parking, child care or even leave your house.  With the technology that currently exists you can meet your bookkeeper right at home using tools like Zoom or Google Hangouts. A bookkeeper that is Virtual (Operates in the Cloud) is … Read more

Can I have tax free income?

There are a surprising number of kinds of income that are not subject to tax under the Income Tax Act.  Here are some examples: Strike pay from a union. (Supreme Court of Canada, 1990 decision in Fries) A union’s cash gift to a member is also usually tax-free. Damages or compensation for personal injury, including … Read more

Warning about Fraudulent Calls from CRA

Here are some recent examples of CRA fraud attempts: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Caller identifies themself as from CRA and that there has been crimes committed against the CRA and that your file has been submitted to the Federal Court and that there is a warrant out for your arrest.  The call display is area code 647 (Toronto).  Needless to say … Read more

Using Online Accounting Systems

So you have decided to take your accounting online.  You are always on the go and it makes life easy for you.  Here are some things for you to consider. 1. Some online systems are not as robust as the desktop.  Wave for example doesn’t let you put in a closing date, so it’s easy … Read more