Selecting the right payroll software is crucial for businesses in Ottawa aiming to streamline their payroll processes and enhance efficiency. In this blog post, we’ll compare popular payroll software comparison solutions, helping you find the best fit for your Ottawa business needs. Consider Your Business Size and Needs: The first step in choosing payroll […]
Eco-Friendly Gift Ideas for Customers and Colleagues
Tis the season of giving, and what better way to celebrate than by being generous to our planet as well? During the holiday season, we tend to produce 25% more waste, mainly due to non-recyclable cards, wrappers, and food wastage. This year let’s break this trash tradition and embrace eco-friendly gift-giving. While we aim to […]
Innovation Assistance Program (IAP) Overview
For incorporated companies driving technological innovation but unable to secure funding under the Canada Emergency Wage Subsidy (CEWS), there is a lifeline called the Innovation Assistance Program (IAP). This wage subsidy initiative is specifically designed to support small to medium-sized profit-oriented businesses in Canada that focus on developing and commercializing innovative, technology-driven products, services, or […]
Embracing Transformation: Moving Beyond Change for Lasting Progress
For any organization to thrive, it must embrace continuous improvement and transformation. Although both concepts aim to drive positive change, they differ significantly in scope, nature, and impact. While improvements can be incremental and immediate, embracing transformation is a profound internal shift that takes time to develop and implement. In this blog post, we explore […]
Enhancing Financial Insights for Your Business
In the fast-paced world of business, keeping a close eye on your financial insights for business is crucial for success. Yet, many business owners tend to prioritize growth and operations, neglecting the finance function, bookkeeping, and back-office tasks. In this blog post, we’ll explore the benefits of adopting a monthly bookkeeping approach and why it […]
Completing Your Ontario Annual Return
As of October 19, 2021, significant changes have been implemented in the way Ontario corporations register and file their annual returns. This new process involves using the Ontario annual return Business Registry system for informational returns, separate from the traditional Corporate Income Tax Return handled by accountants. This blog post aims to clarify the requirements […]
Automobile Deduction Limits & Expense Benefit Rates for 2023
In this blog post, we’ll dive into the latest updates on automobile expense deduction limits and prescribed rates for the year 2023, as announced by the Department of Finance on December 16, 2022. These changes will remain in effect from January 1, 2023, to December 31, 2023. Let’s explore the key points related to automobile […]
Signs You Need a Bookkeeper
As Your Business Grows, Consider Outsourcing Your Bookkeeping Tasks As your business expands, managing the finances becomes more demanding. While you may have handled it successfully so far, the recent increase in revenues, expenses, and staff requires your time and attention for strategic business operations and scaling for bookkeeper. If you’re currently juggling record-keeping responsibilities […]
Auto Deductions Limits & Expense Rates 2023
2023 Automobile Expense Deductions Limits and Operating Expense Rates Automobile Expense Deduction Limits and Prescribed Rates for 2023 The Department of Finance has announced the automobile expense deductions limits and prescribed rates for the 2023 calendar year, effective from January 1, 2023, to December 31, 2023. Here are the details: a. Capital cost allowance (CCA) […]
Unlocking the Potential of Canada’s Underused Housing Tax (UHT)
Promoting Optimal Property Utilization: Introducing Canada’s Underused Housing Tax (UHT) In an effort to incentivize homeowners in Canada to maximize property usage and enhance housing availability, the Government of Canada has introduced a new tax called the Underused Housing Tax (UHT). The UHT is an annual tax of 1% imposed on vacant or underused housing […]