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How Can we Help?

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We welcome any questions or inquiries you may have.

We always strive to get a better understanding of how our services may be able to meet your needs. We are committed to providing excellent customer service and help with anything that might come up along your financial journey. Browse our Bookkeeping and Accounting FAQ or send in a question through our secure online form. We look forward to hearing from you!

01. Can I write off my Meals & Entertainment?

CRA rules for 2021 are:


Business Meals with Clients - 50% deductible (100% if purchased from a restaurant)

Office meals & snacks - 50% deductible (100% if purchased from a restaurant)

Company-wide Party - 100% deductible

Meals & Entertainment (included in compensation) - 100% deductible

02. When are my Corporate Taxes due?

Although you have 6 months to file, your payment is due within 3 months of your year end date.

03. Is it better to purchase a vehicle personally as an Owner or through the company?

In both cases, the answer comes down to which offers more advantages from a tax standpoint.

CRA allows your business owned vehicles to be 100% written off and you can claim capital cost allowances on the purchase. When purchased by Owner, you can only claim either expenses pertaining to the vehicle compared to the % of company use, or Kilometers used for business at 55 cents for the first 5000 and 49 cents per kilometer driven afterwards. And there is no Capital cost allowance. 


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