by Webtax Admin | May 4, 2021 | small business accounting, small business tax accountants, tax
So, you own a small business, and we’re here to help you with some strategies to assist in your year-end tax planning. The two major challenges that you are going to face are tax and succession planning (Succession refers to nominating the next of kin for the...
by Webtax Admin | Apr 27, 2021 | tax, tax planning
Many businesses owns in Canada prefer to incorporate their business instead of operating as a sole proprietor because of the many tax benefits attached with business incorporations, the four most significant tax benefits of business incorporations are the following:...
by Webtax Admin | Apr 21, 2021 | small business tax accountants, tax planning
Are you a shareholder of a corporation? You need to remember that even though corporate funds are not personal funds and if you treat your business like it’s a personal bank you may get yourself into trouble with the taxation department. According to the Income Tax...
by Webtax Admin | Apr 21, 2021 | Accounting, Bookkeeping, small business accounting
What is an Audit? What is an audit? An audit is an official investigation to check the organization’s accounts to see if any fraud or illegal activity has taken place, and all things are going well in the company. An audit is a factor of bookkeeping and...
by Webtax Admin | Apr 21, 2021 | Accounting, Bookkeeping, small business accounting
Bookkeeping Bookkeeping is considered an integral portion of accounting which involves recording a company’s financial transactions on a regular basis. Companies require bookkeeping information to stay aware of their day-to-day transactions and to record financial...
by Webtax Admin | Apr 18, 2021 | Accounting, Bookkeeping, small business accounting
What is Bookkeeping? Bookkeeping includes the documentation, on a routine basis, of the financial operations of a corporation. Companies may keep a check on all the details on their accounts with proper bookkeeping to make critical working, spending, and funding...
by Webtax Admin | Mar 8, 2021 | Accounting, Bookkeeping, small business accounting
Small business owners often believe that they do not require a bookkeeping service to handle their businesses recordkeeping, they initiate their business by taking this role upon themselves but this approach can become complicated, and small business owners very...
by Webtax Admin | Feb 16, 2021 | Accounting, Bookkeeping, small business accounting
Many growing and/or large businesses opt for bookkeeping services all the time. Bookkeeping is taken note of and keeping of check of a companies’ finances. Bookkeeping keeps a track record of all the financial decisions such as investments, R&D, salaries, etc....
by Webtax Admin | Jan 18, 2021 | Accounting, Bookkeeping
Tax accounting falls under as a subcategory in Accounting. Accounting is a vast subject matter that deals with finances and financial statements of businesses and/or companies. Tax accounting on the other hands deals with: TaxesTax PreparationTax ReturnsTax Payments...
by Webtax Admin | Jan 11, 2021 | Accounting, Bookkeeping, small business accounting
Filing Corporate Taxes in Canada is as same as filing taxes anywhere in the world. However, when it comes to corporate taxes things are a little different. Corporate taxes are different from personal taxes, regardless of the names the taxes have no correlation except...
