BBS Bookkeeping

09/06/2026

The CRA charges compound daily interest on unpaid tax balances.

Read more 👉 https://bbsaccounting.ca/what-to-do-if-you-cant-pay-your-taxes-on-time/?utm_campaign=what-to-do-if-you-cant-pay-your-taxes-on-time&utm_medium=social_link&utm_source=missinglettr-facebook

Discovering you owe more taxes than you can pay by the April 30 deadline is stressful. Many Ontario taxpayers find themselves in this situation, whether due to unexpected tax bills, business losses, job changes, or simple cash flow problems. The good news is that you have options, and the worst thin...

09/06/2026

The most important thing when facing tax debt is communicating with the CRA.

Read the full article: what-to-do-if-you-cant-pay-your-taxes-on-time/
▸ https://bbsaccounting.ca/what-to-do-if-you-cant-pay-your-taxes-on-time/?utm_campaign=what-to-do-if-you-cant-pay-your-taxes-on-time&utm_medium=social_link&utm_source=missinglettr-facebook

Discovering you owe more taxes than you can pay by the April 30 deadline is stressful. Many Ontario taxpayers find themselves in this situation, whether due to unexpected tax bills, business losses, job changes, or simple cash flow problems. The good news is that you have options, and the worst thin...

09/06/2026

Your personal circumstances, tax situation complexity, and financial needs determine whether filing early or waiting is optimal for you.

Read more 👉 https://bbsaccounting.ca/should-you-file-your-taxes-early-or-wait-pros-and-cons-explained/?utm_campaign=should-you-file-your-taxes-early-or-wait-pros-and-cons-explained&utm_medium=social_link&utm_source=missinglettr-facebook

Every February, Canadian taxpayers face a decision: should I file my tax return as soon as I receive my tax slips, or should I wait closer to the April 30 deadline? While there’s no universal right answer, understanding the advantages and disadvantages of each approach helps you make the best deci...

09/05/2026

Each pay period, enter hours worked (or integrate time tracking), review and approve payroll, payroll runs automatically calculating all deductions, direct deposit to employees occurs on pay day, and payroll is recorded in accounting software.

Read the full article: Automating Your Bookkeeping: Tools and Techniques That Save Time
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Manual bookkeeping consumes hours that Ontario business owners could spend on revenue-generating activities. Modern automation tools can reduce bookkeeping time by 50-80%, improve accuracy, and provide real-time financial visibility. At BBS Accounting in Toronto, we help clients implement automation...

09/05/2026

Manual bookkeeping involves repetitive tasks perfect for automation: entering transactions from bank statements, categorizing expenses, reconciling accounts, generating invoices, sending payment reminders, and creating financial reports.

Read more 👉 https://bbsaccounting.ca/automating-your-bookkeeping-tools-and-techniques-that-save-time/?utm_campaign=automating-your-bookkeeping-tools-and-techniques-that-save-time&utm_medium=social_link&utm_source=missinglettr-facebook

09/04/2026

Accountants analyze financial information, provide strategic advice, prepare tax returns, and help with financial planning.

Read the full article: When Should Your Small Business Hire a Bookkeeper vs. an Accountant?
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09/04/2026

If you're spending 80% of revenue on operating expenses, profitability is impossible even with perfect gross margins.

Read the full article: Essential Financial KPIs Every Small Business Should Track
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09/03/2026

Keep your complete tax return, all tax slips and receipts, bank statements and cancelled cheques, and any correspondence with CRA.

Read more 👉 https://bbsaccounting.ca/how-to-organize-your-financial-records-for-a-stress-free-tax-season/?utm_campaign=how-to-organize-your-financial-records-for-a-stress-free-tax-season&utm_medium=social_link&utm_source=missinglettr-facebook

09/03/2026

Hardship provisions don't eliminate the debt or stop interest from accruing, but they do prevent aggressive collection action while you're genuinely unable to pay.

Read more 👉 https://bbsaccounting.ca/what-to-do-if-you-cant-pay-your-taxes-on-time/?utm_campaign=what-to-do-if-you-cant-pay-your-taxes-on-time&utm_medium=social_link&utm_source=missinglettr-facebook

09/03/2026

Common examples include claiming family vacations as business travel, personal meals as business meals, personal vehicle use as business kilometres, or home expenses far exceeding actual business use.

Read more 👉 https://bbsaccounting.ca/common-tax-mistakes-small-business-owners-make-and-how-to-avoid-them/?utm_campaign=common-tax-mistakes-small-business-owners-make-and-how-to-avoid-them&utm_medium=social_link&utm_source=missinglettr-facebook