A business can be profitable on paper and still run out of money in the bank — this isn't a contradiction, it's a direct result of how accrual accounting and actual cash movement work differently.

Input tax credits are how a GST/HST registered business avoids simply absorbing the tax it pays on its own expenses — but not every expense qualifies, and getting the claim wrong is a common source...

A side project that starts making money raises a real question: is this a business now, with all the reporting obligations that come with it, or is it still just a hobby that happens to bring in a ...

Every business with a payroll account has a remitter type, and that type — not just the pay schedule — determines exactly when source deductions actually need to reach the CRA.

Why This Matters Mo...

Retained earnings shows up on every corporation's balance sheet, and it's one of the more commonly misunderstood numbers there. Retained earnings is an equity account, not a bank account — it isn't...

Many newly self-employed Canadians are surprised to learn that CPP and EI are treated very differently once they leave traditional employment — CPP still applies, EI generally doesn't, and mixing u...

A Business Number, sometimes called a CRA Business Number or simply a BN, is a unique nine-digit identifier the CRA assigns to a business — the number that CRA program accounts, such as GST/HST and...

Courses, certifications, conferences, and industry memberships are common expenses for a growing business — and whether they're deductible often comes down to one question the CRA asks about every ...

Missing a GST/HST filing deadline triggers real, calculable costs — and the size of that cost depends heavily on one thing most people don't realize matters: whether money is actually owed on the r...

This is one of the most searched — and most misunderstood — GST/HST questions in Canadian health services.

Many registered massage therapists (RMTs) assume massage therapy is exempt from GST/HST b...