IT, Media & Communications

Discover the benefits of a bespoke accounting solutions that helps you grow your business.

Accounting Plus understands your specialist needs.

Accounting for the IT, Media & Communications industry is a specialist area that requires expertise 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
Tax Planning for IT, Media & Communication Businesses
  • Dividend Vs. Salary consideration, ask us.
  • Payments to family members, ask us.
  • CRA and some provinces offer special 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.

Accounting Plus Testimonials

Accounting Plus Testimonials

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Trusted Accountancy For Over Two Decades

  • The team at Accounting Plus Financial has been amazing! We are a very long-time client of theirs and they are always going above and beyond to help us... Read More
  • Despite having some unique accounting needs, the team at Accounting Plus has consistently delivered excellent, professional service and at a very reas... Read More
  • So easy to deal with. always prompt. Great service. no complaints !
  • I’ve been doing my accounting with Accounting Plus for the last 20 years and have to say they are the best. I know that my numbers are right because... Read More
  • Peter Edrey and accounting plus has been such a positive experience for my taxes and accounting needs. Being new to business ownership 2 yrs ago, I s... Read More

Start Growing Your Business Today

Speak with one of our accounting and tax specialists and discover how we can help grow your business.