Category: Accounting

Managing the Bottom Line

If you don’t keep track of how much money you’re making, you have no idea whether your business is successful or not. You can’t tell how well your marketing is working. And I don’t just mean you should know the amount of your total…

Making a Profit

Accountants are responsible for preparing three primary types of financial statements for a business. The income statement reports the profit-making activities of the business and the bottom-line profit or loss for a specified period. The balance sheets reports the financial position of the business…

Personal Accounting

If you have a checking account, of course you balance it periodically to account for any differences between what’s in your statement and what you wrote down for checks and deposits. Many people do it once a month when their statement is mailed to…

TOP 2019 YEAR END INCOME TAX PLANNING TIPS

It’s that time again. The year is almost done, and it’s time to take advantage of tax-planning strategies that will reduce your income tax burden for the 2019 tax year. We’ve collected the top 2019 tax-reduction strategies from our Canadian tax lawyers. Top 2019…

Three tax tips for small business owners

Filing your business’ tax return can get complicated. Consult an accountant to get your taxes sorted out today. To get you started with your 2018 tax return, Danielle’s SOS Financial has prepared some tips for small business owners: 1. Retain your records. If you run your…