Blog - Canada Accountant

Nov

04

2022

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By Bomcas Canada Accountant

How to Sell Your Business in Canada

Business Services

If you are considering selling your business, you should consider these three tips: Sell before you get burned out, get a realistic estimate of its value, and prepare your business for sale. This can make it easier to sell your business and attract a buyer who will be able to expand it. Selling before you are burned out When it comes to selling your business, timing is everything. It is essential to sell before you become burnt out, which can have a dramatic impact on the performance and value of your business. There are a number of ways to make…

Nov

04

2022

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By Bomcas Canada Accountant

What is GST in Canada?

Accounting and Tax Services

GST stands for goods and services tax, and it is a value-added tax in Canada. It was introduced on January 1, 1991, and is administered by the Canada Revenue Agency. It replaced the previous 13.5% manufacturers' sales tax. There are several things you need to know about this tax. These include its rates, how to register, filing requirements, and refunds. Tax rates GST (Goods and Services Tax) is a federal tax that applies to the sale of goods and services in Canada. There are various GST rates in Canada. Some provinces impose a higher rate than others, while others have…

Nov

04

2022

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By Bomcas Canada Accountant

What You Need to Know About the Farm Tax in Canada

Farm Tax, Accounting and Tax Services

Whether you are a full-time farmer or a part-timer, you need to understand the rules around the Farm Tax in Canada. While full-time farmers are automatically eligible for the tax, part-time farmers can claim losses on only a portion of their farm business expenses. The tax also applies to the sale of goods produced on the farm. Part-time farmers don't automatically qualify for farm tax If you're a part-time farmer, it's important to remember that you can't automatically claim the farm tax in Canada. However, you can claim some expenses related to your farming business. Generally, you're allowed to deduct…

Nov

04

2022

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By Bomcas Canada Accountant

Cost of Bookkeeping in Canada

Bookkeeping, Accounting and Tax Services

There are several benefits to bookkeeping for your business, including claiming tax deductions, detecting errors, and predicting your financial health. It also provides a clearer picture of your financial situation, which can help you determine if you owe any money. The services offered by bookkeeping services vary according to the size of your business and the level of bookkeeping you need. The cost of hiring an in-house bookkeeper Hiring an in-house bookkeeper can be expensive. Whether the bookkeeper is a full-time employee or an hourly rate employee, the salary and benefits for the employee can be costly. On average, an…

Nov

04

2022

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By Bomcas Canada Accountant

Corporate Tax Canada

Accounting and Tax Services, Corporate Tax

If you have a business in Canada, you should be aware of the rules surrounding corporate tax. These are regulated by the Canada Revenue Agency. The net tax rate for corporations is 15%, after general tax reductions. Small businesses have a lower tax rate of 9%. In Canada, the maximum deductible amount for a corporation is $250,000. Dividends are taxed at the personal level In Canada, dividends are taxed at both the corporate and personal levels. The tax rates on dividends range from 0% to over 30%, depending on your income and provincial tax rate. If you own an eligible…

Nov

04

2022

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By Bomcas Canada Accountant

The Ins and Outs of Personal Tax in Canada

Accounting and Tax Services, Personal Tax

When you file personal taxes in Canada, you'll be paid in quarterly installments. These payments are due on the 15th of the month following the quarter in which you file. If you miss the deadline, late remittance penalties will apply. Read on to learn more about the ins and outs of personal tax in Canada. Income included in personal tax Canada One way to reduce your tax burden is by applying for tax credits. Some of these are refundable and some are not. The basic personal amount is $14,398 for the 2022 taxation year, but it will vary by province.…

Nov

04

2022

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By Bomcas Canada Accountant

Bomcas Personal Tax Accountant Edmonton

Accounting and Tax Services, Personal Tax

Bomcas Accounting offers personal and corporate tax services to Edmonton residents. Their goal is to provide small and medium businesses in the Edmonton area with a wide range of services that cover both personal and corporate tax needs. If you are looking for a tax accountant in Edmonton, contact Bomcas Accounting today to schedule a consultation. Bomcas Accounting Whether you're an individual or a small business owner, the services of a Bomcas Personal tax accountant Edmonton can help you make your financial life easier. Edmonton accountants offer world-class consulting, compliance, and income tax preparation. Their experience ranges from consulting on…

Nov

04

2022

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By Bomcas Canada Accountant

Hiring a Corporate Tax Accountant in Edmonton

Corporate Tax, Accounting and Tax Services

If you are looking to hire a corporate tax accountant in Edmonton, you've come to the right place. In this article, we'll cover the various Services Bomcas Canada Accountants provides and how to contact them. We'll also discuss how to use the net file method when filing your corporate tax returns. Bomcas Canada Accountants Bomcas Canada Accounting and Tax Services provide accounting services, corporate tax preparation, and accounting & bookkeeping services to individuals and small businesses in Edmonton and surrounding areas. They provide a range of tax preparation services, including corporate income tax returns, individual personal taxes, and Goods and…

Dec

25

2019

By Bomcas Canada Accountant

Save money by traveling to these 9 places in winter

Entertainment, Fashion, Sports

Here are lives at the intersection of fun and scary. One of my companions summed the whole experience up perfectly. He leaned back in his chair at dinner that night, shrimp taco in hand, “These are the kinds of experiences that give something back to you. They show you who you are in a whole new way.” These eight shots crystallize the hard work moms put into keeping their kids alive, happy, and healthy. They might give you the inspiration you need for filling out that card—or stand-alone for your mom’s interpretation.Bob Dyalon At the bottom of the mountain, my legs shaky,…

Dec

25

2019

By Bomcas Canada Accountant

18 party outfits so good you won’t flake on plans

Food, Health, TechnologyApple, Samsung

Fun, as you might imagine, was not how I would describe this adventure. Awesome? Yes. Fun? No. N.O. No way. But would I do it again? If I could rewind to that moment when the alarm went off at 4:30 a.m. to throw on clothes, grab our packs and trek up that mountain, would I? You bet your buttons I would. Here’s lives at the intersection of fun and scary. One of my companions summed the whole experience up perfectly. He leaned back in his chair at dinner that night, shrimp taco in hand, “These are the kinds of experiences…

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