If you’ve been paying attention to financial and political news over the past few months, you’ve no doubt heard a lot of talk about the proposed tax changes in Canada. There are a lot of opinions (mainly negative) surrounding these…
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Small businesses often operate with tight margins as they grow and hire more staff. Every dollar that you aren’t spending on tax allows you to grow your business a little more. In the end, fostering small business growth is a…
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Making charitable donations is an effective way of reducing your tax bill and also supporting good causes. Here’s a quick overview of how donations affect your taxes: Any donations made to registered charities are eligible. They should provide you with…
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With the abolishment of the HST (Harmonized Sales Tax) back in 2013, businesses now have to navigate the rules of both the GST (Goods and Services Tax) and the PST (Provincial Sales Tax) sales tax systems when selling goods and…
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When you first start selling goods or services to customers you will want to be onside with your responsibilities for charging GST on what you sell. Generally, most goods and services are taxable for GST. So if you’re unsure, it…
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This is a question faced by many owners of a corporation which is carrying on an active business. First off, let’s address the basic concepts. A holding company is a legal corporation which owns the shares of the business corporation…
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Welcome to the new home of MD Accounting. We’re really glad you’re here and would love to help you with all your small business accounting and bookkeeping needs. Please visit our accounting services page for more information on the work…
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