Discover the benefits of a bespoke accounting solutions that helps you grow your business.
Accounting Plus understands your needs.
Accounting for the IT, Media & Communications industry is a unique area that requires experience and an understanding of the sector.
Tax Issues for IT, Media & Communications Businesses
Should I Incorporate My Business? Ask us.
Business Deductions for IT, Media & Communications Businesses
Tax deductible expenses include:
- Home office and office expenses
- Travel expenses
- Make travel deductible in a legal way.
- Marketing/branding, e.g. to develop your brand logo when selling your own brand
- Sponsored ads
- Accounting and bookkeeping
- Telecommunications
- Subcontracted help
- Software licences
- Accounting
Business Planning for IT, Media & Communication Businesses
- Dividend Vs. Salary consideration, ask us.
- Payments to family members, ask us.
- CRA and some provinces offer tax credits for media companies, ask us if you are eligible.
- Consider applying for Scientific Research & Experimental Development (SR&ED) Tax Credits.
Accounting Issues for IT, Media & Communications Businesses
- Open a separate business bank account to track income and expenses from the corporation
- Open a website listing services you provide
- Have a separate phone number for the business better to have more than one client, avoid private service business corporation
- Own your tools (e.g. laptop, software)
- Have a liability insurance
- Negotiate with the contract provider to set your own schedule
- A minor in business can own the company but can’t sign agreements, must be done in trust. Ask us.
- Earning income from streaming services, need to report it the right way – ask us
- Open HST account and help you get HST refund, even you are earning foreign income, ask us how.
API keys with referer restrictions cannot be used with this API.
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Accounting Solutions Across Every Industry Sector
Xero Online Accounting Software
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Xero Key Features
- Invoicing Made Easy
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With just one click, you can see your bank balance, invoices, bills and expense claims, without having to log onto various websites. - Automatic Bank Reconciliation
Xero imports and categorizes you latest bank, PayPal and credit card transactions so reconciliation is just one click away.
