Tax

Real estate accounting is so much more than jotting down figures. Think of it as a big-picture understanding of potential revenue from properties, approaches to tax management, and the intricacies of your cash flows. A well-kept account represents more than peace of mind: it can also be your greatest weapon amid tax audits and payments.

Many small business owners find the process of tax planning to be overwhelming and confusing. In this article, we will provide some tips on how to start tax planning for your small business.

If you have a SaaS business and you charge an upfront annual price as an option to your customers, you might know that you should spread those revenues equally over the months of the service agreement in your accounting books instead of showing one lump sum in the month it was received. For some, this process is not as easy as they would like it to be. So let's check out the top apps to track deferred revenues for SaaS businesses. To elaborate on the problem before jumping i

If you're a small business owner and you're paying your team members as consultants because you either want to avoid some of the administrative work that comes with payroll or because you want to save a bit on taxes, you might be exposed if you haven't considered the criteria that CRA uses to determine the employee vs contractor nature of the relationship. Below we'll look at 5 factors that the CRA uses to help make this determination. Many business owners would prefer to tre

Tech startups are now starting to trend toward paying their staff in a new form of payment: bitcoins. But they might be forgetting about the tax implications of salaries in bitcoins. It’s easy to see the allure of getting paid in bitcoins for those that work in innovative, cutting edge environments, for bitcoins themselves are innovative and cutting edge. It’s no wonder that more and more employees in tech startups are asking for some or all of their salary to be paid in bit

Tax season came and went and those involved with bitcoins in 2013 had the frustration of having to interpret just how they will include their bitcoin related activities on their tax returns, especially those with bitcoin mining activities. We at Xen Accounting have seen first hand just how frustrating this can be for taxpayers due to the (almost) complete lack of guidance from the Canada Revenue Agency in regards to how a lot of this bitcoin activity should be treated for ta