We are located in Mississauga and Brampton, Ontario, servicing these and surrounding areas of the Greater Toronto Area (GTA) such as Milton, Oakville, Georgetown, Etobicoke, and Vaughan. We can prepare for you any documents you need to file with various government departments regarding income tax, harmonized sales tax, workplace safety insurance, and payroll.

1. Accounting tips for small business
Canada by Accountant Oakville
and Mississauga

2. Always keep your business finances
separate from your personal finances.1
Don't give the tax auditor a reason to audit
both. Learn to pay yourself first and run your
business on the remaining cash.
This means setup an automatic payment to your
personal account twice a month (1st & 15th or
10th & 25th) like a regular pay cheque.

3. File all your tax compliance reports
on time2
File all your tax compliance reports on time
to avoid penalties, even if you can't pay the
amount owing.
However if you begin the habit of putting money
aside in a separate account to pay your taxes, you
will never have this problem. Start today. Put 15%
of all cash received by your business into a
separate account.

4. Keep Organized
3
Develop a method for handling all your
paperwork .
Entering your bookkeeping data in batches .
Actively managing your cash flow .
Review your bank statement and
financial reports monthly.

5. 4 Audit proof your records.
Keep all your receipts, no matter how small
the amount and make sure they are legible.
Receipts you must keep include debit receipts
and credit card receipts.
Deposit all your business cash flowing into the
business ... so you can prove what was income
(taxable) and what was contributions or loan
proceeds (not taxable).

6. Whenever possible, don't go
into debt to run your business.5Run your business on your existing cash flow.
Not enough cash flow to cover expenses?
Figure out where to cut your expenses and
consider not offering credit to your
customers because you are not a bank.
Keep a business journal to diarize your logic
for your business ventures. It will help show
you incurred the expenses with the
expectation of profit.

7. Contact us for
Detail Information
9058580775
handt@handt.ca
www.handt.ca