3 Ways Small Business Tax Preparation Saves You Money
One of the First Rules of Starting a Small Business Is to Learn How to Save Money. However, with all the costs that come with a new business venture, it’s easy to throw this rule out the window without realizing it. Unexpected expenses and setbacks are a normal occurrence for the first few years, but […]
Do Small Businesses Get a Late-Filing Penalty from the CRA? And Other Tax FAQs
Taxes are due to be paid to the CRA by April 30 each year. This is true for everyone from individuals to small business owners. However, there is somewhat of a grace period that runs to June 15 that comes with interest charges. With help from our team at Leonard Tam Professional Corporation, you can […]
Things Your Toronto Accountants Can Help Your Small Business Write Off
It’s no secret that part of running any business is finding ways to maximize your revenue as you minimize your expenses. This is especially critical when running a small business in Toronto because the revenue might not outweigh the expenses by very much each month. Fortunately, you can get some relief by writing off some […]
What to Look for in a Tax Accountant in Toronto
Doing your taxes can be a frustrating and tedious process. Knowing how much you have to pay and getting that amount right can feel like a guessing game. Furthermore, you would hate to short-change the government then have to pay a considerably larger tax than what you originally thought. With the help of a tax […]
How to Avoid a CRA Late Filing Penalty and Other Penalties
When running a business, you have enough on your plate. Particularly for small business owners in Toronto, managing the bookkeeping and taxes is overwhelming. The penalties you incur when neglecting or mismanaging finances can cripple operations. Luckily, with the Leonard Tam Professional Corporation, our 25-plus years of industry experience and unrivaled customer service turn working […]
3 Ways Outsourcing CFO Services Helps Small Businesses Grow
As a small business owner in Toronto, there’s probably a long list of projects, plans, and goals you’re waiting to embark on until you’re more established. You think you should delay until your bottom line is secure before overextending into a new marketing strategy, hiring an internship position, or expanding your brand. But activating certain […]
Top Accounting Tips for Small Business Owners Who Manage Their Finances
When you run a small business, there are many everyday operations that you’re not specialized in. This can include things like hiring employees, accounting and payroll, and others. Based in the heart of Toronto, Leonard Tam Professional Corporation understands the unique challenges you face as a local entrepreneur. From fluctuating market demands to navigating city-specific […]
What Does a CRA Agent Do If You File Late Taxes?
Just because taxes happen every year, it doesn’t make it any easier to get the paperwork together in time to file. Even when you meet the deadline, you may wonder if you’re filing correctly or over or underpaying–especially if you have a complicated tax situation. Maybe you’ve been too busy to notice the tax deadline […]
Late Taxes Done Right with Toronto Late Tax Filing Services
No matter how good your intentions to get your taxes filed this year, life can come at you fast. Unpredictable events happen, and sometimes taxes aren’t your top priority. While not filing taxes is a serious issue, experienced tax professionals can help. Regardless of your filing situation, make sure you get your taxes done right […]
How to Set Up Payroll for Your Small Business in Canada
Doing payroll for your small business in Canada isn’t always simple, but doesn’t have to be hard if you follow some necessary steps to set it up. While working with a professional payroll assistance company is the best way to ensure your payroll is correctly set up, your small business can follow this general guideline. […]