Category: Bookkeeping Tips

Bookkeeping Basics

Most people probably think of bookkeeping and accounting as the same thing, but bookkeeping is really one function of accounting, while accounting encompasses many functions involved in managing the financial affairs of a business. Accountants prepare reports based, in part, on the work of…

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…

Child care: The right business for you?

Whether you are looking to begin a home-based, or centre-based child care facility, there is likely a rewarding opportunity to provide care to children of any age! Every family’s child care needs are unique and, based on their schedules or circumstances, they may consider…

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…

What Bookkeeping Tasks Need to be Done + When

Weekly 1. Check Bank Balances It’s a good idea to always be aware of your bank balances. You’ll know if you are getting low or sitting ok. Looking weekly also helps you see trends in your monthly finances. When do you have the most…