Experts In The Unique Challenges of Accounting For Retail

Accounting Plus helps you manage all retail accounting issues like inventory, staff, payroll and taxes.

Tax Issues for Retail Businesses

Should I Incorporate My Business? Ask us.

Business Deductions for Retail Businesses

Tax deductible expenses include:

  • Merchant fees
  • Inventory
  • Shipping expenses
  • Rental expenses
  • Travel expenses
  • Make travel deductible in a legal way.
  • Marketing/branding, e.g. to develop your brand logo when selling your own brand.
  • Advertising
  • Accounting
  • Payroll
Provincial Sales Tax and QST for Retail Businesses

Your business may be required to register, file and pay for provincial PSTs and the QST if you operate stores in multiple provinces. Ask us.

 

Accounting Issues for Retail Businesses

  • CRA Import and export account may be required for importing and exporting of product from out of country. We provide services to set up these accounts.
  • Manage your inventory in a smart way – use inventory apps, ask us for advice.
  • Cross border sale update? Ask us
  • Tracking p/l for each of your product? Ask us about setting up tracking categories.
  • Online retail options vs. physical retail, or a combination of both. There are different ways to set up your retail operations.

Payroll Issues for Retail Businesses

Payroll Management for Retail Businesses
  • Make sure all employees are on your payroll system.
  • Understand payroll laws and regulations for different payroll scenarios (I.e. – holiday pay, vacation pay, overtime pay).
  • Our office provides a complete hassle-free payroll system, contact us for more details.
  • High turnover can complicate payroll, we can help simplify your payroll management.
Workers Compensation and EHT for Retail Businesses
  • If your gross payroll exceeds $450,000, you will be required to remit the Employee Health Tax to the Ontario Government. Ask us if this situation applies to you.
  • You may be liable to pay Worker’s Compensation Insurance for all provinces that your business operates in. Ask us for more details.

Accounting Plus Testimonials

Accounting Plus Testimonials

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Trusted Accountancy For Over Two Decades

  • The Accounting Plus is our medical business' financial company which provides us with accounting, financial planning, and tax planning services. The w... Read More
  • I've been working with Peter Edrey and his people at Accounting Plus for about 18 years. Just like any relationship, things are not perfect 100% of th... Read More
  • Cannot say enough good things about Peter and his team. Knowledgable, efficient and responsible are just some of the adjectives to describe them!!
  • I am working with accounting plus since 1996, when it was a one man office ( Peter ). Well I have only good words to express my satisfaction from the... Read More
  • Business returns always done professionally with attention to detail. Keep up the good work

Start Growing Your Business Today

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