Running a business comes with a lot of questions —

and not all of them need a meeting or a paid engagement

to answer.
 

This FAQ is designed to give you clear, reliable, information-only guidance on common bookkeeping,

tax, and compliance topics, with direct links to government sources so you an read the rules for yourself.
 

You’ll notice we don’t use a chatbot on this site — and that’s intentional.
 

While AI tools can be helpful in many industries, financial and compliance-related questions require accuracy, context, and professional judgment. Automated tools can misinterpret rules, oversimplify complex situations, or provide information that doesn’t apply to your specific circumstances.
 

We believe it’s more responsible to:

• Provide carefully written answers we can stand behind

• Link directly to official government guidance

• Clearly distinguish between general information and professional advice

If your question goes beyond general information or involves your specific situation, that’s where a professional review or consultation is the safest next step.

Our goal is to help you stay informed, compliant, and confident — without guessing.

​

​

Business Setup & Structure

Starting a business is exciting… and it’s also where a lot of expensive mistakes begin. This section covers the basics like registering your business, choosing a structure (sole proprietor, partnership, or corporation), business numbers, name registration, licences, and why “registered” doesn’t always mean “registered for taxes.”

​

Business Setup & Structure

Starting a business is exciting… and it’s also where a lot of expensive mistakes begin. This section covers the basics like registering your business, choosing a structure (sole proprietor, partnership, or corporation), business numbers, name registration, licences, and why “registered” doesn’t always mean “registered for taxes.”

 

Access Business Setup & Structure FAQ's here

​

Income Reporting & Record-Keeping

If it comes into your business, it needs to be tracked — and supported. This section covers what counts as business income, what records you’re required to keep, how long to keep them, and why good documentation matters. It also explains common trouble spots like missing income, mixed personal and business transactions, and what happens when records aren’t complete.

​

Access Income Reporting & Record Keeping FAQ's here

GST/HST

Sales tax rules can feel straightforward until the details matter. This section covers when GST/HST registration is required, how the small supplier threshold works, when tax must be charged and remitted, and the basics of input tax credits. It also explains common trouble spots like late registration, incorrect tax collection, and record-keeping requirements — all with links to official government guidance.

​

Access GST/HST FAQ's here

Expenses & Deductions

Not every cost is deductible, and documentation matters. This section explains what types of business expenses may be claimed, the difference between current and capital expenses, common categories like home office, vehicle, and meals, and what CRA expects when it comes to receipts and record-keeping. It also covers what can happen when expenses are claimed incorrectly and why keeping personal and business spending separate is so important.

​

Access Expense & Deductions FAQ's here

Payroll (Ontario)

Payroll involves more than issuing paycheques. This section explains employer responsibilities in Ontario, including payroll registration, deductions and remittances, record-keeping, T4s and Records of Employment, and how payroll errors are handled. It also covers Ontario-specific requirements such as WSIB, Employer Health Tax, vacation pay rates and increases, and statutory holiday pay — with links to official government guidance so you can always confirm current rules.

​

Access Payroll (Ontario) FAQ's here

CRA Letters & Reviews

Receiving a letter from CRA can feel stressful, but it’s often part of a routine review process. This section explains why CRA sends letters, the different types of reviews and audits, how to respond, and what timelines to expect. It also outlines what documents may be requested, what happens if CRA reassesses a return, and why good record-keeping makes the process smoother — all with links to official CRA guidance so you can confirm current requirements.

​

Access CRA Letters & Reviews FAQ's here

Bookkeeping & Working With Professionals

Good bookkeeping is the foundation of everything that comes next. This section explains the role of bookkeepers and accountants, how bookkeeping supports tax preparation and CRA compliance, and why accurate, up-to-date records matter. It also covers common questions about doing your own bookkeeping, reviews, professional support, and why advice depends on reviewing your records — helping you understand when information is enough and when professional guidance makes sense.

​

Access Bookkeeping & Working with Professionals FAQ's here

​

Cybersecurity

Cybersecurity isn’t just an IT issue — it’s a business risk. This section highlights simple, practical steps small business owners can take to protect sensitive financial and personal information, using guidance from the Government of Canada’s Get Cyber Safe program. It covers securing accounts, devices, and connections, and points you to official resources so you can check the most current recommendations as technology and threats evolve.

​

Access Cybersecurity FAQ's here

​

Financial Cents (Client Portal)

Financial Cents is our secure client portal and the primary way we communicate with active clients. This section explains how we use the portal to send messages, request documents, assign tasks, and issue reminders — and why all files and communication must flow through Financial Cents once you’re a client. Using the portal helps keep your information secure, your work organized, and your file moving forward without delays.

​

Access Financial Cents FAQ's here

​