Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Andrew Button

Original Article Posted on:  May 18, 2021

Link to Original Article:  https://www.fool.ca/2021/05/18/tfsa-investors-beware-this-huge-cra-tax-bomb/

Original Article Source Credits:   Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By:  Christopher Liew

Original Article Posted on:  October 26, 2020

Link to Original Article:  https://ca.finance.yahoo.com/news/canada-revenue-agency-2-crucial-124522648.html

For most business owners, maintaining financial records and preparing accounts and taxes is one of the top priorities. However, with no grounding in accounting and bookkeeping, many of them find it difficult to efficiently manage their accounts. This prompts them to overlook the little things and commit mistakes that can have a huge impact on their business. 

While building a business from scratch can be exciting and rewarding, there are several challenges and complexities involved in the process of starting a new business. Careful planning and exceptional execution are imperative to avoid these problems and ensure the growth of your business. 

People usually receive direct phone calls and emails from the Canada Revenue Agency (CRA) when there are issues with their tax declaration or incase the CRA finds discrepancies in their income and tax statements. This tends to entail punitive action, which often causes fear and stress.

Balancing the books and taking care of the accounting needs of a business is not everyone’s cup of tea. Moreover, with the ever-changing guidelines and regulations, it can be difficult for a layperson to stay on top of the rules of accounting and manage the financial aspect of their business in an optimal manner. Therefore, it’s best to hire a professional bookkeeper and accountant to look after the finances of your business.

As a firm offering top of the line bookkeeping and accounting services in Richmond, BC, at Real Balance Accounting Services Ltd., we’re running a special discount on our services to help existing and new clients save a few dollars. 

Accounting and bookkeeping are integral parts of a successful business as they are linked to every financial aspect of your business. For this reason, how your books are prepared and maintained can significantly impact your business operations and your taxes. If you have an experienced accountant on your side, you can conveniently draw up your financial figures to meet the guidelines of the government. At the same time, your accountant will help you manage your funds and adequately structure your financial moves for higher chances of success.

Thanks for stopping by our blog. If you’re looking for more information about Real Balance Accounting Services Ltd., you’ve come to the right place. 

We are delighted to announce the launch of our new website!

Our new website provides our existing and prospective clients a simple yet interactive view of our work and the services we offer. Stay tuned to our blog for new ideas! Sign up here so you never miss an update.

New Website Coming Soon!