There are few questions more shocking to an accountant than “Why do we need financial statements?” Years of specialization and familiarity lead most accountants to take the answer to this question for granted. Indeed, when asked this question, many accountants … Read More
Taxes
Accounting for Tax Time
It’s March! The days are getting longer, the weather is getting warmer, and personal tax season is upon us. I would like to remind you of the April 30th filing deadline and offer our assistance in preparing your 2014 T1 Personal … Read More
February is T4 Month
February is upon us and the news from Pennsylvania is that Punxsutawney Phil saw his shadow this morning — which means six more weeks of winter. The other bad news is it’s time to file your 2011 T4’s and T5’s. A T4 needs … Read More
What Can I Deduct as a Business Expense?
In his days as a lawyer traveling the Eighth Judicial Circuit, Abraham Lincoln once asked an adversary in court, “How many legs does a sheep have?” The man replied, “Four, of course,” Lincoln went on to ask “And if you … Read More
Why Incorporate Your Business
When starting a small business, you have a few choices on how to legally structure it. You can organize your business as a corporation, sole proprietorship, or a partnership. What you ultimately choose will have a significant effect on the … Read More
Accounting Policies and Procedures
Do you know your businesses’ accounting policies and procedures? Are they optimized for your specific type of business, and your operations individual needs? If you were audited tomorrow, would your books stand up to Federal scrutiny? Did you just break … Read More