Tips for Restaurant Accounting

When you are running a restaurant, it can be easy to focus on the food and hospitality and brush off accounting as a secondary task. Like any business, however, you are looking to gain and maintain a profit, and good accounting systems are crucial in order ensure your success. Here are our tips to help […]

11 Tax Tips For Owner-Managed Enterprises

TAX RATE SUMMARY BC personal and corporate tax rates will not change in 2020: Corporate Tax Rates (Fed + BC)          2019 2020 CCPC Active business income < $500,000 [1]   11.00% 11.00% CCPC Active business income > $500,000 27.00% 27.00% CCPC investment income  50.67% 50.67% Personal services business income 45.00% 45.00%   Personal Tax Rates (Fed […]

Does Your Business Claim GST/HST Input Tax Credits?

Make sure you have the correct documentation to support your claims. Many businesses are surprised when the Canada Revenue Agency (CRA) audits their GST/HST returns and denies some of the input tax credits (ITCs) they attempt to claim. An ITC claim may be denied for many reasons, but a common one is a lack of […]