Blog Archives

What is a TFSA?

A TFSA is a Tax Free Savings Account.  It’s similar to an RRSP except contributions aren’t tax deductible and the yearly contribution cap is $5000.  Any income generated inside the TFSA is tax free when withdrawn.  There is absolutely no

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Why Outsource Bookkeeping?

While quality accounting work is critical to the success of any business, regardless its size, the question often becomes whether to do it in house or to outsource entirely.  These are the main considerations: Focusing on one’s specialty You hired

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The Importance of Backups

Not a strictly accounting related topic, but still crucial for any small business owner, as we found out recently. We have dozens of company files on our computers here in the office, running various software systems such as QuickBooks, Simply

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