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
  • 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
  • Accounting plus been my accounting firm for the past 32 years . Peter and his team always there for me to take the time And explain any type of tax wi... 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.