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Mastering Financial Management: The Power of Cloud Accounting and Bookkeeping

CRA Benefits

In today’s fast-paced digital landscape, traditional accounting and bookkeeping methods are giving way to innovative cloud-based solutions. From improved accessibility to enhanced efficiency, cloud accounting and bookkeeping offer a plethora…

9 CRA Benefits Payment Dates for 2024

CRA Benefits

Federal benefits, including some provincial/territorial benefits, you will receive payment on these dates. 1. Canada Pension Plan Includes the Canada Pension Plan (CPP) retirement pension and disability, children’s and…

$500 – One-time top-up to the Canada Housing Benefit

Canada Revenue Agency

What is the Housing Benefit? The government announced the one-time $500 federal boost to the existing Canada Housing Benefit program in the fall, pledging to help those eligible cover the…

9 CRA Benefits Payment Dates for 2023

CRA Benefits

If you receive federal benefits, including some provincial/territorial benefits, you will receive payment on these dates. If you set up direct deposit, payments will be deposited in your account on…

Cash Vs. Accrual Accounting Methods?

Accounting

What are the Types of Accounting Methods? There are two methods of accounting: cash-based and accrual-based. These two methods will dictate how income is recognized based on the timing of…

10 Tips on how Uber & Lyft Drivers Can Save Tax in 2022?

Canada Revenue Agency

Deductible expenses are what helps lower your tax owing, so be sure to claim all your eligible costs. These include: 1. Mileage The Uber tax summary of total online kilometers…

8 Essential Tips for Ease of Use of QuickBooks Online

Accounting

1. Open Multiple Browser Windows When using QuickBooks Online, opening multiple windows is a huge timesaver as it allows you to flip back and forth between screens. It’s also an…

Depreciation and Capital Cost Allowance – Read for Bookkeeping and Income Tax T2 Courses

Accounting

What is Depreciation? Depreciation refers to the accounting practice dealing with assets as they get older and decrease in value. The Canada Revenue Agency (CRA) lets your business claim a…

Bookkeeping vs. Accounting: What’s the Difference?

Accounting

Bookkeeping vs. Accounting: An Overview Bookkeeping is the process of recording all financial transactions made by a business. Bookkeepers are responsible for recording, classifying, and organizing every financial transaction that…

Highlights of Sales and Excise tax measures, April 7 2022 Budget

Income Tax

Read for GST/HST Course Goods and Services Tax/Harmonized Sales Tax (GST/HST) Health Care Rebate In 2005, the GST/HST public service body rebate for hospitals was expanded to include qualifying charities and…

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