Our Blog

Business360.Pro Blog

Business360.Pro is pleased to provide a variety of resources on accounting, taxation and other related subjects that I hope will be helpful to both individuals and businesses.

If you have any questions, simply contact me by email or call 778-968-2850. I will be happy to meet with you for a free, no-obligation consultation.

Best Practices for Record-Keeping in Small Business

bookkeeping
 

Effective record-keeping is crucial for the success of any small business. Proper records not only help you track your financial performance but also ensure compliance with tax regulations and provide valuable insights for making informed business decisions. Here are some best practices for record-keeping in a small business:

Continue reading
  25 Hits

Retroactive Disability Tax Credit Claims

dtc2

Part 2 of our series deals with claiming the Disability Tax Credit (DTC) in previous years. If you believe that you were eligible for, but did not claim it, you may be able to make a retroactive claim. Retroactive claims allow you to request adjustments to previous tax returns and potentially receive refunds for the missed credits.

Continue reading
  178 Hits

Rebates for Green Vehicles

green

When considering a fuel-efficient vehicle such as a hybrid, or an alternative fuel model you should know that the Canadian Government, as well as some provinces, provide rebates. 

Continue reading
  193 Hits

The CRA Strike Doesn't Mean You Can File Your Taxes Late!

deadline

Despite the current strike involving public sector workers at the CRA, you still must file your Canadian income tax on time to avoid penalties and interest charges. 

Continue reading
  239 Hits

Sales Taxes in Canada

gst PST/GST/HST

Our Canadian sales tax system has federal and provincial components. To simplify the differences, review each province’s tax system.

Continue reading
  317 Hits

Compilation Engagement Standards QnA

compilation2 Canadian Compilation Engagement Standards QnA

Who are users, and what is the Basis of Accounting?

A “user” includes anyone who would receive the compiled financial statements. Users may be shareholders, investors, creditors and lenders, government, regulators, suppliers etc.

Continue reading
  345 Hits

Canada Compilation Engagement Standards

compilation Compilation Engagement Standards

In Canada, accounting firms are letting their clients know about the new requirement for compilation engagements. This new standard is titled the ‘Compilation Engagement Report.’ This report will contain your company’s compiled financial details.

In Canada, accounting firms are letting their clients know about the new requirement for compilation engagements. This new standard is titled the ‘Compilation Engagement Report.’ This report will contain your company’s compiled financial details.

Continue reading
  367 Hits

As a Business Owner, Are Your Affairs In Order?

affairs Are Your Affairs In Order?

The Canada Revenue Agency is looking to increase scrutiny to ensure compliance with tax regulations with a trend toward added corporate disclosure requirements. Businesses and their owners are facing a higher level than previously.

Continue reading
  385 Hits

Deductible Expenses Can Include Gifts

gifts Can you deduct a gift?

Giving gifts to clients can be a valuable method of building goodwill and loyalty. It’s one way to distinguish yourself from your competitors.

Continue reading
  396 Hits

Does a CPA Do Anything After Tax Season? Lots!

aftertax Does a CPA Do Anything After Tax Season?

Having survived tax season, thousands of CPAs flock to beach resorts for 11 months of relaxation, cocktails and resting on their laurels. OK, not quite.

Nevertheless, that seems to be the general assumption. In reality, accountants have plenty to do throughout the year, whether it is tax time or not. Days are filled with audits for some organizations and financial planning for various individuals or companies. Bookkeeping is always ongoing, just as other year-round tasks are dealt with. So what does a CPA do after April? Read on to find out.

Continue reading
  409 Hits

How to Stay Ahead of the Tax Man

bizplan How to Stay Ahead of the Tax Man

Small business owners and self-employed persons are people who follow their dreams!  Whether you are an up-and-coming entrepreneur, semi-retired, or want to become your own boss, we all must play by rules.

As you start down the road, here are common mistakes people make.  Here are some important tips  you could use to run your business and comply with the Canada Revenue Agency (CRA) or the Internal Revenue Service (IRS) rules:

Continue reading
  405 Hits

Contact Us

Our Office

Business360.Pro
3803 Oxford Street
Burnaby, BC 
V5C 1C2

Phone: 778-968-2850

We're Easy to Find