What Can Bad Bookkeeping Cost You?

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Women sitting at a messy deskOver the last several weeks I seem to have had an influx of new clients who are suffering from bad bookkeeping. I don’t know if it is because so many business owners are submitting their books to their accountant for year end, but it does seem like February and ...

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9 Questions to Ask your Tax Preparer

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tax-time-ahead

 

It’s April 15th and about the time that everyone is thinking about personal taxes.  Although at AIS, we no longer prepare tax returns, personal or corporate, because we are in the accounting and bookkeeping field, we are often asked for a recommendation or a referral.

Having completed tax returns for many years, I can tell you that I’ve seen everything.  Too many deductions, not enough deductions, and everything in between.

At the end of ...

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The Government of Canada will phase out cheques by April 2016

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ChequesWe received notice this week from the Canada Revenue Agency that the Government of Canada will be encouraging businesses to use direct deposit for their payments by slowly phasing out federal government cheques by April 2016.

There are several advantages to this move, as direct deposit allows for a faster and more secure method of payment. It’s also paperless, making it better for the environment.

Many businesses already make use of direct deposit to ...

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It’s T time again (and not the kind that goes with scones)

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Tax timeFebruary is the month of T4’s and T5’s for most employers.  If you had any employees during the 2012 calendar year, then CRA (Canada Revenue Agency) requires you to file T4’s and T5’s by February 28, 2013.  There is no flexibility on the deadline and the penalties and interest start adding up on March 1st.  The penalties also are based on the number of information slips you were required ...

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