Karim Bitar is the lead accountant at BBA Tax Accounting Services in Ottawa and an ELITE Certified QuickBooks ProAdvisor. He and his team prepare personal and corporate tax returns, keep the books for small businesses, handle GST/HST and payroll filings, and represent clients during CRA reviews and audits. His articles explain Canadian tax rules in plain language.
If you're a business owner in Canada, the words “CRA audit” can send a shiver down your spine. But here’s the truth: not all audits are cause for panic, and many are preventable. By understanding what triggers an audit from the Canada Revenue Agency (CRA), you can...
What small business accounting software has to handle in Canada, how QuickBooks Online, Xero, FreshBooks and Wave compare on their own published features, and how to set up your file properly.
Effective bookkeeping is the backbone of any successful small business. It not only ensures compliance with tax regulations but also provides insights into your business's financial health. For small business owners in Ottawa and across Canada, understanding and...
Employees and self-employed people can both deduct home office costs for 2026, but under different rules. Here is who qualifies, what you can claim, how to calculate it and which forms you need.
Federal and Ontario corporate tax rates for 2026, including the July 1 cut to Ontario’s small business rate, the $500,000 business limit, the passive income grind and T2 deadlines.
Income splitting still works in Canada, but only through specific routes. Here are the 2026 rules for pension splitting, spousal RRSPs, prescribed-rate loans, family salaries and TOSI.
Managing payroll remittances is a crucial responsibility for Canadian business owners. Ensuring accurate payroll deductions and timely remittances to the Canada Revenue Agency (CRA) helps businesses remain compliant with tax regulations and avoid penalties. This guide...
Canadian dividends are grossed up, then reduced by a dividend tax credit. Here are the 2026 federal and Ontario rates for eligible and non-eligible dividends, a worked example, and what changes in 2027.