How to Write Off Vehicle Expenses

If you’re a real estate agent, you probably spend a significant amount of time using your vehicle for work purposes. The Canada Revenue Agency (CRA) allows deductions for motor vehicle expenses that you generate when operating a car to earn income in your business. Whether you’re self-employed or a commission-based salaried employee, this self-employment advice […]

How to Track Expenses for a Small Business

As a small business owner, it’s important to track your expenses accurately to make sure your cash flow covers expenses. Organizing your expenses also helps you to be prepared when tax time arrives. QuickBooks can help you with everything from creating an expense report to dealing with a Canada Revenue Agency (CRA) audit. In this […]

How to Expense Mileage, Entertainment, & Meals

If your company operates even a single vehicle for business purposes, or if you sometimes spend money winning sales and new contracts, it’s essential to keep really accurate records of your expenses to back up the deductions you plan to claim at the end of the year. The Canada Revenue Agency (CRA) may not accept […]

List of the Most Common Business Expenses

As a business owner, you know that running a company costs money. Each month, you might pay for everything from office supplies to electricity. The government allows you to deduct these business expenses from your income at tax time — meaning you pay less in taxes. When you’re working with a tight budget, these tax […]

Small business owner sets up expenses to import automatically

How To Import & Track Expenses Automatically for Maximum Productivity

Manually entering business expenses and other data into your accounting software can be extremely time-consuming, and when you’re entering information by hand, there’s always a risk that you may put in the wrong number, forget a decimal point, or make other small errors. Luckily, you can save a lot of time and eliminate errors by […]

Accountant and client discuss reducing business expenses

9 Strategies to Reduce Business Expenses

As a small business owner, you have to keep one eye on the bottom line continuously. Business owners often focus on bringing in more income as a way to grow their profit margin. But you can also improve your profit and loss statement by carefully tracking your expenses. When you lower the cost of running […]

Accountant reviews miscellaneous expenses with client

What You Need to Know About Miscellaneous Expenses

Learn how to track and account for miscellaneous expenses as you prepare for your tax returns. Make sure you don’t miss any miscellaneous business expenses and that you don’t claim so many that you’re in danger of a tax audit.

Small business owner calls her credit card company

What Are FX Fees?

Find out what FX fees are before you use your credit card during international business travel. Learn how much these can cost you and how you can get a card without them.

Entrepreneur prepares an order for shipping

How to Cut Down on Shipping Costs in Your Small Business

Ship your products efficiently to keep your overall operating costs low. Packing items with care and comparing the available shipping options and discount programs streamline your company’s shipping strategy.

Driver maintaining accurate mileage records

Importance of Tracking Your Mileage Daily

When you drive for work-related reasons, every kilometre counts. The Canadian Revenue Agency (CRA) lets you deduct your mileage when you use your vehicle for business purposes, such as visiting customers or suppliers. Tracking your driving accurately helps you make sure you maximize those deductions for savings at tax time. Benefits of Tracking Mileage Daily […]

Man happily driving an electric car

Learn About Deductions and Incentives for Businesses That Purchase Electric Cars

Ontario wants to reduce greenhouse gas emissions, and the province has incentives to get business owners and individuals to help. As of 2018, the province is offering rebates worth up to $18,000 if you purchase or lease plug-in hybrids or battery electric vehicles and level two charging stations. When you buy an electric vehicle for […]

A retail business owner incorporating indirect costs into pricing of products

How to Incorporate Indirect Costs Into Pricing

Learn what indirect costs are, examples of common indirect costs, and how to incorporate these costs into your pricing.

Employee serves beer flight at a craft brewer's convention

What Are Convention Expenses?

Looking to learn something new in your industry? Business conventions are a great way to expand your knowledge and network while you learn. Or maybe you’re setting up a booth at an upcoming business convention. Whatever the reason, going to conventions can give you a tax deduction based on the costs of the trip. What […]

Small business owner exits a rental car while traveling for business

What to Consider With Small Business Travel

As a small business owner, you may occasionally need to take a business trip or send your employees on one. While you shouldn’t travel frivolously, you also shouldn’t hesitate to travel in cases where it may benefit your business. This includes conferences and conventions, meeting with prospective clients, attending out-of-town training sessions or networking events, […]

A business owner uses credit card to pay for purchases to leverage credit

Why You Should Leverage Credit When Purchasing

Growth is seldom immediate in business, but you still need to invest in your business to attract customers or clients. Leverage is the practice of using money you get from another source, such as a line of credit from a bank, to buy the equipment – and merchandise, if you run a retail store – […]

Small business owner creating purchase order on tablet

How to Make a Purchase Order for Your Small Business

As a business owner, when you need to purchase products or services from a vendor, you create a purchase order and send it to the vendor. To create a purchase order in QuickBooks, take the following steps: Click the plus sign at the top of the screen and click Purchase Order. Choose a vendor in […]

A Man Working on His Expense Report

What Is an Expense Report?

An expense report is a list of all the expenses your business has incurred over a specific period of time. In some cases, it can also refer to a list of expenses incurred by a specific employee. The Canada Revenue Agency (CRA) allows you to deduct almost all business expenses on your tax return, so […]

Male artist tracking daily expenses on tablet in art gallery

How To Track Your Expenses Daily

As a small business owner, it’s often all too easy to overlook tracking the daily expenses you accumulate. The money you spend on parking, for example, may seem like a minor expenditure, but all those costs add up at the end of your fiscal year. Keeping on top of your daily expenses on a regular […]