Discover the benefits of a bespoke accounting solutions that helps you grow your business.
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Tax Issues for FInancial Businesses
Operations for Financial Businesses
Insurance broker, day trader, mortgage broker, investment advisor, digital currency investor – Can only be operated as a sole proprietorship. Can consider operating a management corporation alongside the financial business. Ask us.
Business Deductions for Financial Businesses
- Home office and office expenses
- Automobile expenses
- Memberships and Professional Fees
- Referral Fees
- Professional Insurance
- Courses – You can include your tuition expense as a tuition credit on your personal tax return (Schedule 11, to be more specific). or you can include your tuition expense as an actual Expense on your personal tax return (T2125) – ask us.
- Software and licences
- Gift and meals to clients
- Events and conferences
Operations are HST Exempt. Digital currency investor: report income correctly, capital gain or business income – ask us
Accounting Issues for Financial Businesses
Use a Cloud-based Accounting System, ask us about your options.
Set up a proper chart of accounts to fit your operations.
Use mobile apps to track mileage for business.
Accounting Solutions Across Every Industry Sector
Xero Online Accounting Software
Operate more efficiently and have more time to focus on your business. Find out why over 300,000 people worldwide have moved to Xero’s online accounting solution.
Xero Key Features
- Invoicing Made Easy
Not only can you create professional recurring invoices in Xero, you can also keep track of when they are opened.
- Value For Money
Xero reduces your upfront business costs with free upgrades and access for an unlimited number of users all at an affordable monthly fee.
- At-A-Glance Dashboard
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.