Your business buys a $3,000 laptop. Then a $45,000 vehicle. Then $80,000 of manufacturing equipment. At tax time, you ask your accountant a reasonable question: Can I deduct all of this now? The answer is often: It depends. Canadian business owners frequently confuse two very different types of spending: Current expenses, which may generally be...

A customer sends your business a $20,000 deposit today for work you will complete three months from now. Your bank balance increases by $20,000. Did your business just earn $20,000 of revenue? Not necessarily. This is one of the most common accounting mistakes made by growing Canadian businesses. Cash arrives, the bookkeeper records it as...