Ronika Khanna CPA,CA

MARCH 22, 2024

Ensuring that you stay on top of your tax obligations is fairly straightforward and the following measures can actually help to contribute to more effective business operations: Know Your Business Tax Obligations and Deadlines. Open Mail That You Receive from CRA or RQ If you get mail from the government, OPEN IT!

Tax 52

Tax tax return corporation tax accounting system 52

xendoo

MARCH 4, 2022

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? Ecommerce business owners have some degree of flexibility that physical storefronts cannot afford. However, it can be challenging to set up an ecommerce bookkeeping system.

Sales 105

Sales bookkeeping Account accountant 105

Cheap Accounting

FEBRUARY 4, 2022

At this point you may wish to use a Cloud Accounting system such as FreeAgent which you can pay for directly or this can be FREE if you have a Mettle or NatWest business bank account. You would do this in two places: Via your Business Tax Account with HMRC for VAT, Self Assessment, PAYE and Corporation Tax.

Account 52

Account accountant accounted corporation tax 52

Ronika Khanna CPA,CA

FEBRUARY 23, 2023

Life insurance premiums are not tax deductible unless the beneficiary is the business. Instead the government allows for what is referred to as CCA (capital cost allowance) which is essentially a depreciation charge over a period of time at specific rates. If you have any doubts, then keep it!

Tax 52

Tax tax return business tax income tax 52

Ronika Khanna CPA,CA

SEPTEMBER 22, 2023

Having separate bank and credit card accounts for your business can greatly reduce the stress of reporting your income at tax time and it provides insight into how your business is doing particularly when you don’t have an accounting system. As such the penalties on late payment of sales taxes can be severe.

Tax 98

Tax income tax tax return accounting and finance 98

Ronika Khanna CPA,CA

NOVEMBER 18, 2022

By being proactive, you can turn your mind to your actual business and avoid unpleasant surprises (such as incomprehensible letters from the government). Maintain all your incorporation documentation, either physically in a file folder or scan it to accounting/corporate folder on your computer.

payroll 52

payroll accounting and finance Tax accounting system 52

inDinero Tax Tips

APRIL 20, 2021

The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies. Compare that with Delaware, which collects corporate income tax on Delaware businesses if they conduct business in the state.

Delaware 64

Delaware Wyoming Nevada Oregon 64