Accounting Plus Financial Services Inc.

Tax planning is an essential aspect of personal finance management and business optimization. In Canada, businesses and individuals have various opportunities to save taxes and maximize their disposable income and revenue. Individuals and businesses can optimize their financial situation by understanding the available tax-saving strategies and leveraging them effectively. This article will explore several key ways individuals and businesses can save taxes in Canada in 2023 . How Individuals In Canada Can Save Taxes? There are a lot of ways an individual can save taxes in Canada. These include: Maximize Registered Retirement Savings Plan (RRSP) Contributions One of the most effective ways to save taxes in Canada is by maximizing contributions to a Registered Retirement Savings Plan (RRSP) . Contributions made to an RRSP are tax-deductible, meaning they can be deducted from your taxable income, resulting in immediate tax savings. Leverage Tax Credits and Deductions Understanding and tak...

Effective bookkeeping  is a critical component of running a successful business . It ensures accurate financial records, helps with decision-making, and ensures compliance with tax regulations. While some small business owners may handle bookkeeping tasks themselves, hiring a bookkeeping expert can bring numerous benefits. However, finding the right professional for your business requires careful consideration. This article will discuss essential factors to consider before hiring a bookkeeping expert. Qualifications and Expertise When searching for a bookkeeping expert, assessing their qualifications and expertise in the field is crucial. In order to do that, consider the following factors: Certification Look for professionals who hold relevant certifications , such as Certified Professional Bookkeeper (CPB) or Certified Public Bookkeeper (CPB). These designations indicate a certain level of knowledge and adherence to professional standards. Educational Background Check if the boo...