September 21, 2017

Taxes

Taxes are a challenge that need careful planning.  One of your first tasks is to get organized, including looking at the possible deadlines you may be facing throughout the year.  Organizing for Tax Management helps you set up an organizational scheme and a calendar of deadlines that you need to meet.


Many of the tax software packages integrate directly with your business accounting software to make your tax preparation simply a matter of transferring data that you have been accumulating monthly into the tax program.  Many of the programs also have extensibe help features and tax advice but a book can also be helpful in understanding what is your best strategy.

Some suggestions are:
  • Business Use of Your Home
  • Starting a Business and Keeping Records
  • Tax Guide for Small Business
  • Travel, Entertainment, Gift and Car Expenses
  • Bankruptcy Tax Guide
There is an interesting analogy that has neen drawn between the time it takes to prepare taxes and the time it takes to earn the money to pay those taxes – both approximately 4 months.  Hopefully some of the advice found here can help you shift the balance to spending more time making money and less time reporting it!  Good luck on your taxes.

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Mississauga, Burlington, Oakville and Toronto and offering all mortgage related services such as 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on our site or call 416-459-2406