One of the most important things you can do for the financial health of your small business is to monitor your cash flow - the amount of money going in and out of the business. Sounds simple, right? But many small business owners find themselves with unexpected shortfalls.
After you file your tax return, you’ll be issued a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA). We provide some tips on what to look for when you receive your NOA, common reasons for discrepancies between your NOA and tax return and how to handle them.
Does the thought of organizing your receipts fill you with dread? We get it. It can seem overwhelming to keep track of your receipts on top of the busy demands of running your own business. But putting in the work now means you’ll save time when it comes to filing your taxes.