Small Business Tax Solutions
7710 5th Street SE, Unit #213 T2H 2L9 Calgary, AB, Canada

What’s the difference between what a bookkeeper does and what an accountant does? A bookkeeper puts together a complete database of your business’ income and expense for your fiscal year (or calendar year). An accountant takes the bookkeeping data and forms the reporting necessary for the tax reporting. The danger here is that if the database data is crap the reports (that the Accountant prepares) will also show crap. The importance of using a first-rate bookkeeper is very key to your business’ success. For more information, click here http://ow.ly/IOP2E #bookkeepercalgary

I already have a GST account. Do I need another one? Chances are that you received a GST number operating personally (as Sole-Proprietor or Partnership). If you start a separate business or start an Incorporated company, you’ll need to apply for a NEW GST number. Each business (exceeding $30,000 in sales/revenue) must each have a GST number. This is due to the income of your new company being distinct in its recording of ssIf you will have sales of $30,000 in fiscal year, you must obtain a GST number. As part of our services, we review your businesses for correctness and will contact CRA for you to correct so you stay in compliance. Visit our website for more information http://ow.ly/IOO3g #accountingcalgary

Do I need a bookkeeper? I know EXCEL and prefer to use it. It's highly recommended that that a professional bookkeeper be used if you have a Corporation. The reason for this is that your bookkeeping needs to use double-entry accounting to ensure that the Trial Balance always balances to your corporate bank account. As a privately-held corporation, whether you have one shareholder or 50 shareholders, the accountability and compliance (according to the Tax Act) needs to be the same. For more information, click here http://ow.ly/IOMwu #bookkeepercalgary

Is there any advantage to applying for a GST account early? No. It's just more paperwork. The exception is if you will be purchasing many items in advance of your first sale - where this will allow you to recover the GST on items purchased (called ITC's) as Input Tax Credits. Find more information here http://ow.ly/IOLGj #accountingcalgary

When should I hire a bookkeeper? It's highly recommended that you hire a bookkeeper as soon as you start your business. That way you'll avoid all the mistakes that novices make. Our bookkeepers can cost as little as 3 hours per year, dependent on your activity. It's not worth your time to learn it. Find out more here http://ow.ly/IOKLh #bookkeepercalgary