Dharna CPA
5170 Dixie Road, Suite 205 L4W1E3 Mississauga, ON, Canada

We are gearing up for tax season and here to answer your questions. It's never too early to get tax ready! You've got a busy schedule so we have opened up more availability (evenings and weekends) so we can connect at a time convenient for YOU. www.dharnacpa.ca/appointment to book a complimentary discovery call!

GREAT NEWS!! Deduct This - Small Business Write Offs is now available as an on demand webinar! $77+HST gets you a 1 hour webinar, am up to 1 hour consult with Shalini to discuss the webinar and an excel work book to do your own bookkeeping! What You will Learn: Your responsibilities for filing your taxes as a Small Business Owner Understand what you can and can’t write off as a business expense... CRA red flags and Common Mistakes Tips on record keeping/expense tracking and what tools are available to make it easier And so much more DM me for details as landing page is coming! hehe

Tell me if this sounds familiar: You: I want to save for my goals Investment advisor: cool! I can help you with that no problem. Here's how much you'll need to put away You: And when I take out the money how much taxes will I pay? Investment Advisor: you need to talk to your accountant about your taxes. I can only help you manage your investments. ... Are you sick of playing broken telephone between multiple advisors who keep passing the buck to the other professional? It can make the whole situation even more stressful because you're not getting the answers you need. At DharnaCPA we offer tax and wealth advice in house - because we are both CPA's and licensed investment and insurance professionals. We can provide you the technical expertise you need, and help relieve you of the emotional stress too! Imagine! Not being stressed about finances anymore!

Now that the egg nog and champagne has worn off.. you're probably thinking "yay, I get to start working on my taxes!" Many entrepreneurs struggle with when doing the bookkeeping because they categories they want to track don't align with what the accountant wants to for taxes. A good accounting software will have the ability to create categories & sub categories (sometimes called groups, accounts) so you can make the main group align with what the accountant wants, and use sub categories to track what you need to know as an entrepreneur. Same effort, same report, two birds!

None of this effort is worth it if we don't stay on track. Starting and stopping can be very disheartening when we don't see the results. SO... we need to be proactive with our finances. We need to own our money habits and make the changes we need. This requires accountability to ourselves.

Most people would agree that money is the No. 1 cause of stress in life and especially in relationships. By working on a financial plan - and asking all the questions you have - you will end up with newfound confidence when it comes to your finances. Whether your numbers are good or bad, knowing you have a plan is more than half the battle.

As the saying goes - a goal without a plan is just a wish. What you should be doing to start your financial plan identify short-term and long-term goals. I'd suggest start with just a brain dump of all the things, then work on prioritizing them. Managing your expectations is a big part of the process too!

It's often assumed that if you're offering accounting or tax services that you are a designated accountant. However the sad reality is the industry is unregulated for these services. Did you know: - anyone can buy tax software and offer tax services - watched a YouTube on bookkeeping? Boombookkeeping services - took an accounting course ? PRESTO! Accountant ... Remember you are ultimately responsible for your numbers and compliance. Choosing the right person is an investment in your business and believe me, a CPA won't be price bargaining (unfortunately even prices amongst CPAs vary greatly) If the designation matters to you, check the CPA member listing!! And check their email signature, we show it off with pride (to offset the blood sweat and tears that went into it).

If you're an entrepreneur listen up! While you are in business to meet your personal goals, it is really...REALLY... important that we keep our business and personal separate. Obviously, they’re both equally important, and one will affect the other. When running a business, it can be too easy to neglect personal goals (raise you're hand if you've denied paying yourself because the business can't afford it ). That’s why it’s important to set out separate financial plans for both the business and personal sides of life. Then, we work on making sure the business plan supports your personal plan.

Another great question to be answered in more detail in @iryna_koyeva_mortgages and my upcoming webinar. Free registration in bio!!

Register for this free webinar https://www.eventbrite.ca/e/tax-savings-mortgage-implicatio

Obviously it is easier to just stick our head in the sand and hope for the best when it comes to our finances. It'll go away by itself right? And retirement? That seems like a problem for me later (or maybe my kids). Yet, we need goals in our life. We need to work towards something to feel a sense of fulfillment in our life. We often get stressed out, though, because we don't manage how we are going to meet our goals - short term and long term. A financial snapshot just takes a look at where you are today, where you want to be, and offers paths for how to get there. By knowing where you are, and how you're going to get to where you want to be, we take the stress away!

There was a time, not long ago (and still very much in existence in many cultures) that your self worth was determined by what you had and could show off. Who had the bigger house, the better car, or went on more vacation! This is what fueled the FOMO concept many still struggle with! I think a lot of us still judge each other by what we see, without really knowing the behind the scenes truth!