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Tax Filing Mistakes To Avoid

The tax-filing deadline is almost here, but there is still time to save money on your 2018 return. Don't pay the government any more than your fair share.

Here is the list of the top 5 mistakes tax filers make -- which you should avoid

Looking to Write Off Meals and Entertainment Costs???

Meals and EntertainmentMany business owners believe that just because there is a line item on the tax return for meals and entertainment, every meal and theatre or sporting event tickets with clients, potential clients, or employees, qualifies as a valid deduction. But CRA puts limitations on what can be deducted and how much. Deducting meals and entertainment is not as easy or straightforward as it looks.

There are rules to deducting these expenses. The basic rule of thumb is, if you’re having way too much fun, it’s not a deductible expense.
Here are some guidelines to help you determine which is a business or personal expense.

How to choose your Accounting Professional

Calculator imageMany businesses do not realize the benefits of hiring an accounting professional. In our daily business practice, we have come across clients who have had their tax return prepared by a "friend" or someone who prepares tax returns "on the side" Usually, when the client approaches us, it is because they have a problem – which is often a tax audit. The client doesn’t know why they were selected.

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Williamson Accounting is a firm that provides a high standard of accounting for Small Businesses in the Greater Toronto and Surrounding areas.

Small Business Accounting and Tax Solutions

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