DIY or do-it-yourself activities are a great test of creativity and an excellent opportunity to save a little money. Doing things yourself can also be therapeutic or fun. However, as the DIY craze catches on, many believe just by watching a couple of YouTube instructional videos, all tasks can be completed swiftly and economically as a DIY, even the sometimes complicated task of filing and maintaining the books of a business.

Changing technological trends are impacting every industry, including accounting, and will continue to do so. By adopting these technologies, companies realize that what used to take months is now done in days, what used to take days can now be done in hours, and what used to take hours can now be done in a flash. All by clicking a button! That is the simplicity yet the transformative significance of technology in the financial sector.

How should you do your taxes this year? Is it worth it to hire someone to do them for you? Or do you want to try filling them yourself? Should you send them in by mail, or do you submit them online? Before you begin, what forms and information should you have on hand? The answers are different for each individual. However, some basic knowledge can prepare you to make the right decisions, get your taxes done, and move on with your life.

To begin, let’s answer the question, what are business expenses? Also referred to as deductions, business expenses are ordinary and necessary costs incurred to operate your business. Business expenses can be further divided into fixed and variable expenses. Fixed expenses are regular and don’t change much. They include things like rent and insurance. Variable expenses are expected, but they can change. Some examples include sales commissions, gas for business vehicles, and shipping costs.

Every industry has its language and terms. These words and phrases can be confusing to anyone who is not part of the daily operations of a specific sector, and the accounting industry is no exception.

Starting a business can be both exhilarating and challenging, as it requires your full attention and energy. It also entails understanding and dealing with many issues—legal, financial, sales and marketing, intellectual property protection, liability protection, human resources, and more. The experts at JT Comptabilité CPA et Consultation understand the stress that comes with setting up a new business. This is why we have put together a Beginner’s Guide to setting up a new business to help you get started.

As businesses continue to automate their processes, it’s creating faster and more accurate services for their clients. The accounting industry is also following hot on the heels of this technological trend. Therefore, accounting professionals will have to evolve rapidly and become a hybrid between a bookkeeper and a technology manager. Their new role will be to let the software handle the task while they focus on verifying if the work is correct.

Small business accounting is a standardized process that helps keep track of a company’s financial activities. On the other hand, bookkeeping is a precise process of maintaining a record of every single company transaction. Both the methods are intertwined and relevant as bookkeeping offers valuable data, and accounting empowers the company to make solid business decisions. 

As a business entrepreneur, having the appropriate accounting tools and resources can help you achieve your short-term and long-term financial goals. However, to make the most of them, you need to know how to use them appropriately. Accounting can be an intimidating and dreaded part of a business as it often gets confusing. Moreover, understanding the ins and outs of your company’s financial affairs can be taxing at times. But, with the help of a reputable accounting professional, you don’t have to face these obstacles. Professional accountants can play a significant role in supporting your business and ensure you save enough money and time for yourself.

Original Article Source Credits:   CPA Canada , https://www.cpacanada.ca/

Article Written By:  MARGARET CRAIG-BOURDIN

Original Article Posted on:  04.09.2020

Link to Original Article:  https://www.cpacanada.ca/fr/nouvelles/canada/2020-09-04-budget-paiements-numeriques

Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:   2021-03-03

Link to Original Article:  https://www.canada.ca/fr/agence-revenu/services/impot/entreprises/sujets/societes/declaration-revenus-societes/quand-devez-vous-produire-votre-declaration-revenus-societes/determiner-annee-imposition-votre-societe.html

Original Article Source Credits:   TVA Nouvelles , https://www.tvanouvelles.ca/

Article Written By:  Daniel Germain

Original Article Posted on:   19 décembre 2020

Link to Original Article:  https://www.tvanouvelles.ca/2020/12/19/le-credit-le-diable-de-vos-finances-1

Original Article Source Credits:   CPA Canada , https://www.cpacanada.ca/

Article Written By:  MATHIEU DE LAJARTRE

Original Article Posted on:  09.12.2020

Link to Original Article:  https://www.cpacanada.ca/fr/nouvelles/canada/2020-12-09-faillite-personnelle

Original Article Source Credits: JOURNAL DE MONTRÉAL , https://www.journaldemontreal.com/  

Article Written By:  DANIEL GERMAIN

 Original Article Posted on:  12 décembre 2020

Link to Original Article:  https://www.journaldemontreal.com/2020/12/12/la-magie-des-interets-composes

Managing your finances requires you to have an eye for detail on every transaction so that your business functions smoothly and efficiently. However, as a business owner, keeping an eye on minute financial tasks can be too much to handle while running your business. Therefore, it’s ideal to seek assistance from a reliable accounting firm to track your accounts and manage various monetary activities. 

Original Article Source Credits:    Conseiller , https://www.conseiller.ca/

Article Written By:  Me Maxime Alepin with the collaboration of Me André Perron

Original Article Posted on:  5 novembre 2020

Link to Original Article:  https://www.conseiller.ca/pme/chroniques/certaines-depenses-dentreprises-admissibles-meconnues-des-pme/

Original Article Source Credits:   CPA Canada , https://www.cpacanada.ca/

Article Written By:   SOPHIE NICHOLLS JONES

Original Article Posted on:  06.11.2020

Link to Original Article:  https://www.cpacanada.ca/fr/nouvelles/canada/2020-11-06-gel-salaires

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I’m Jie Tang, the proud owner of JT Comptabilité CPA et Consultation.

I look forward to sharing my story. I hope that you will enjoy getting to know me better.

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