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Tag Archives: tax preparation
Should you accept a gift from a family member?
Written by Jenny Okonkwo Remember when we were children, our parents always taught us not to accept gifts from strangers? Well, it may be worthwhile considering this advice when it comes to family members as well! Referring to Tony Wilson’s recent Globe and … Continue reading
7 Reasons to Hire A Tax Preparer
Written by Jenny Okonkwo Seven key reasons why owner managed businesses (OMBs) should consider forming a long-term partnering relationship with a dedicated tax preparer instead of “walking-in” to a “shoe-box” accountant for their T1 General return: 1) Incomplete Business Records … Continue reading
Posted in Tax Talk
Tagged accomplishments accounting achievements analysis branding brands budgeting business Business Partnering for Results coaching commitment consultants consulting consumer effective finance habits income, accounting, income tax, self-employed, Small Business, SME, Sole Proprietor, tax filing, tax preparation, taxes
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The Paperless Home Office
Written by Jenny Okonkwo Record-keeping, the ‘bug-bear’ of the owner-managed business, becomes critical in the period leading up to the preparation of your corporate income tax return. Incomplete, or missing records, can lead to under-recovery of business expenses, unnecessarily increasing … Continue reading
Posted in Tax Talk
Tagged accounting, income tax, self-employed, Small Business, SME, Sole Proprietor, tax filing, tax preparation, taxes
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Does a small business really need help from an accountant to file their tax return?
By Jenny Okonkwo Last Updated: March 10, 2015 Arguments against (“Waste of Money”) •User-friendly software packages widely available •Cost-saving self-sufficiency imperative in a small business •Little perceived added value •Ultimate responsibility remains with the business owner •.. AND OTHERS Arguments … Continue reading
Posted in Tax Talk
Tagged accounting, income tax, self-employed, Small Business, SME, Sole Proprietor, tax filing, tax preparation, taxes
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10 Things to know when preparing your tax return
By Tim Cestnick I came across this article which gives useful advice and tips to help you prepare your return: http://www.theglobeandmail.com/globe-investor/personal-finance/tax-matters/10-things-to-know-when-preparing-your-tax-return/article2393523/ The one difference of opinion I have with the author is the comment expressed in Tip No 5 recommending … Continue reading
Posted in Tax Talk
Tagged accounting, analysis, business, consultants, income tax, Jenny Okonkwo, tax filing, tax preparation, taxes
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6 Stress Busting Tips for Self Employed Business Owners
Written by Jenny Okonkwo For many small businesses, the income tax filing process is an overly complicated, time consuming process due to the following reasons: Poor Record Keeping What cannot be supported or proved, gets added back to taxable income. … Continue reading
Posted in Tax Talk
Tagged accounting, income tax, self-employed, Small Business, SME, Sole Proprietor, tax filing, tax preparation, taxes
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