It’s safe to say that there are more home offices than ever, and more Canadian workers are going to navigate their taxes in a whole new way. Employees are only entitled to deduct home office expenses from their income if they had to: maintain a home office where they worked more than 50% of the […]
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Several government wage subsidies are available to businesses hit by the pandemic – navigating these programs and how they impact your taxes this year can be tricky. An accountant can help you receive the government wage subsidies you need to make it through this pandemic and help you when it comes time to include them
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Creating a monthly household budget can help you reach short-term goals like debt relief, save for long-term goals such as retirement, or make sure that you are on a solid financial footing for the future. What factors go into making a monthly budget for your family? Budgeting can be quite simple, not more than a
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Many Canadians think that tax season doesn’t get into full swing until April, but you don’t have to wait! Get a head start and prepare your tax return early this year, especially if you received any COVID-related benefits last year. 2021 could be one of the more confusing tax seasons in recent memory, but if
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For the average taxpayer, financial documents can be hard to organize, even under the best circumstances. When you consider the year we just had, taxes may be more difficult than usual! Here are some tips to make things easier as you take work-from-home, CERB, and more of 2020’s unexpected curveballs into account when preparing your
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One technological advancement taking the world by storm is Cloud-based software. These applications use shared computing resources (e.g. processing power, disk storage, memory, etc.) through the internet, with all data kept on remote servers. It has saved many businesses a lot of money they would usually spend on computer power, software upgrades, and the expense
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Soft skills are non-technical abilities that relate to professional work. They help you interact with clients and colleagues, solve work-related problems, and manage your time. Having these kinds of skills makes all work, including accounting, much easier. Several soft skills are important for helping CPAs: planning and organization, business sense, communication skills, proficiency with technology,
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COVID-19 has forced a growing number of Londoners to transition into remote work, raising questions about how this will affect tax time. It’s a confusing time, especially when not all the definitions have been fully explained. Here’s how remote work could impact your tax filings for 2020, a truly unprecedented year!
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Deducting motor vehicle expenses on your taxes is a good way to reduce the amount of taxable business income you earned. If you earn self-employed income and use your motor vehicle for this purpose, you can claim the vehicle-related expenses as related business expenses on your income tax return.
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Intuit QuickBooks is one of our most useful tools: it lets clients accept payments for their invoices, manage their bills, and run their payroll. But the main reason the Trillium team loves it so much is that QuickBooks helps make our work more efficient! One recent advancement was the move to a cloud-based format. How
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