Do I really need a separate bank account for my business?

Are you one of the many business owners that uses your personal account and personal credit cards for your business transactions as well as your household expenses?   If the answer is yes, you are not alone!   Many business owners do this because they perceive it to be easier and less expensive.   However, it is extremely important to maintain […]

Calling all post-secondary students!

If you are a post-secondary student, there are some changes coming in 2017 to the income tax regulations that you need to be aware of. Currently, full- and part-time post-secondary students who are enrolled in qualifying programs are able to claim extra credits over and above their tuition paid under the “education amount” credit.   This credit currently allows […]

Doing work for cash can cost you more than you think…

If you are a business owner, chances are that at some point along the way, someone has asked you if you will provide your product or service for “cash, no tax.”     Many business owners choose to participate in this practice and pocket the money and never report the sale on their HST and/or tax return.    But, do these […]