Category Archives: accounting

Case Study: Outsourcing accounting achieved huge tax savings and growth in Andrew’s companies

tax savings and growth

It had a positive domino effect on his whole business portfolio.

With three companies to run, Andrew’s accounting had become an afterthought. His books were a mess, he felt stressed about surprise CRA audits and he didn’t realize he was paying more than he needed to in tax. Here’s how we transformed his accounting and …

Streamlining Accounting with Shopify Connector by Intuit

shopify

No one wants to spend time transferring data from app to app. In today’s digital world, integrating different platforms to streamline business processes has become crucial to managing your e-commerce business. One such integration that offers immense benefits is linking Shopify to QuickBooks Online. By utilizing the “Shopify Connector app by Intuit” in QuickBooks Online …

What is CPP2 and how will it affect my taxes?

CPP2 affect my taxes

Have you heard about the recent introduction of the Canada Pension Plan 2 (CPP2)? If you haven’t, it’s time to pay attention. Did you asked yourself, how will the CPP2 affect my taxes? The CPP rates have been revised and an additional rate has been introduced, which means your contributions and benefits may be affected. …

Why you NEED to tell your accountant before you take money out of your corporation

right way to take money out of your business

There is a right way and a wrong way to take money out of your business.

The “wrong way” is to simply withdraw cash from your business bank account. It’s not wrong because it’s punishable by the Gods or the law enforcers, but it can result in a punishingly high tax bill. It can also …

When are your taxes due

taxes due dates

With the end of the Financial Year getting closer and closer, we elaborated a recap of when are your taxes due so you don’t miss any deadline!

Different dates apply for each category

Personal Taxes – In Canada, the deadline to file your personal tax return is April 30 of each year.  In 2023, April

Success Story: “It was liberating to hand all the accounting stuff over to Titanium”

Men in front of a car smiling - the smoke bloke

“Unless you are well-versed in accounting, it’s worth your investment to outsource it”.

This is what Mike Taylor of The Smoke Bloke recommends to other business owners who are struggling through doing the accounting themselves.

When we first met Mike he was running The Smoke Bloke on his own. He was the bloke, smoking. After …

How to pay less personal taxes

how to pay less tax

Are you ready to start to pay less personal taxes? Here’s a summarized guide on how to achieve that.

Maximize your deductions: CRA specifically allows certain deductions to reduce your taxable income and help you pay less tax. The most popular deductions are:

  • RRSP and pension contributions
  • Childcare expenses
  • Moving expenses
  • Spousal support payments
  • Employment

What do I need to know about setting up my first payroll for my small business?

close up a account working about financial with ca       utc scaled

Congratulations on hiring the first employee for your small business. It’s time to run your first payroll but where to start? Let’s talk about getting your new employee paid and how to fulfill your responsibilities as an employer. 

Here’s what you need to know to set up payroll for your small business:

  • As an employer,

How much debt is right for my business

woman managing the debt       utc scaled

A growing business is a business that is usually consuming cash flow. Rapid expansion means investments in development costs, marketing, inventory, and accounts receivable, the time between your investment and receiving the money from your customer can stretch out for months.

Large construction projects can take forever! Additionally, we want to match the cash flow