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As the end of the year draws close all business owners’ start planning to make high profits by maximizing the amount for tax deduction and reducing taxes payable...

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Written by admin Category:

You are a business. You, hopefully, exist with the goal of making as much profit as possible. This will involve you looking at ways in which you can maximize profit whilst reducing tax. This means claiming expenses.

Read more

Written by admin Category:

One of the most complicated aspects of owning a business is paying a salary to your own self. This requires one to have an extraordinary amount of restraint...

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10 Jul 2015

How to Avoid An Audit

Written by admin Category:

No business likes an audit. Not only is it a highly-stressful experience, even if you know you have not committed any sort of fraud, but the whole process will take time away from the running of your business. Of course, some audits can’t be avoided.

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F.A.Q

Gross sales are defined as the sales / revenues including taxes (GST, HST, and QST). When we remove the sales tax from the sales / revenues that is called net sales.
Long Term debt is any loans, liabilities or financial obligations lasting over one year. These amounts will not become due within one year of the balance sheet date. They will be capitalized on the balance sheet.
The governement provides a six month grace period to submit your incorporation taxes and registered company taxes, so for example if your year end is December 31st, you have till June 30th to submit your taxes.
Personal taxes are due by April 30th.

Latest News

As the end of the year draws close all business owners’ start planning to make high profits by maximizing the amount for tax deduction and reducing taxes payable...

You are a business. You, hopefully, exist with the goal of making as much profit as possible. This will involve you looking at ways in which you can maximize profit whilst reducing tax. This means claiming expenses.

One of the most complicated aspects of owning a business is paying a salary to your own self. This requires one to have an extraordinary amount of restraint...

10 Jul 2015

How to Avoid An Audit

No business likes an audit. Not only is it a highly-stressful experience, even if you know you have not committed any sort of fraud, but the whole process will take time away from the running of your business. Of course, some audits can’t be avoided.

About Us

Since 2004, 514 Accounting has provided start-ups, small and medium sized businesses all over Montreal, Quebec and Ontario with affordable, reliable, and professional accounting and consulting services.

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  •   info (@) 514accounting.com
  •   +514.712.3851
  •   +514.637.2019
  •   14B Rue Quinn DDO, Montreal, Quebec, H9B 1K6

 

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