In 2025, you can claim home office expenses if you worked from home over 50% of the time for at least 4 weeks. The flat-rate method is gone, so you’ll need detailed records for things like rent, utilities, and internet. Get your T2200 form from your employer and use T777/T777S to calculate your deductions. Keep those receipts and maximize your claim!
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In April 2024, BNN Bloomberg revealed that 90% of Canadian finance and accounting hiring managers are struggling to fill vacancies due to a shortage of accountants. With more CPAs retiring than entering the field and fewer students enrolling in accounting programs, Canada faces a looming crisis. This shortage is impacting business operations, increasing compliance risks, and causing burnout among existing professionals. To ensure the future of the accounting profession and protect economic stability, a multi-faceted solution involving government, educational institutions, and businesses is essential.
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With the accounting profession rapidly evolving, attending CPA conferences in 2025 is crucial for staying informed, earning CPE credits, and networking. Key events like the CPA One Conference and the CPA Public Sector Conference provide insights on regulatory updates, technological advancements, and business strategies. These conferences are essential for CPAs looking to stay ahead of changes in tax laws, technology, and industry best practices, while also expanding their professional network.
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Managing finances is crucial for small businesses in Canada, but it doesn’t have to be complicated. Modern accounting software simplifies bookkeeping, automates invoicing, tracks expenses, and ensures tax compliance. From premium to free options, our guide explores the top 6 small business accounting software for 2025, helping you find the best fit for your needs. Plus, discover how integrating outsourced accounting services can further streamline your financial operations.
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Outsourcing AR services ensures faster collections, reduces costs, and improves cash flow. Experts handle invoicing, follow-ups, and disputes using advanced technology, minimizing delays and bad debt. Focus on growth while professionals manage your receivables efficiently.
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Canada’s tax landscape is shifting in 2025, bringing key adjustments to federal tax brackets, CPP contributions, and savings programs. While inflation-indexed brackets offer minor relief to some taxpayers, high-income earners remain unaffected. Additionally, CPP contributions are rising, impacting employees and self-employed individuals alike. Staying ahead of these changes is crucial for effective tax planning. At NCS Canada, we help businesses and individuals navigate tax complexities with precision.
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Accurate bookkeeping is essential for financial stability and business growth. But should you manage it in-house or outsource to experts? While in-house bookkeeping offers direct control and internal familiarity, it comes with higher costs and time commitments. Outsourcing, on the other hand, provides cost efficiency, expert insights, and reduced financial risks.
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Wondering about Canada business tax filing deadline 2025? T2 filing is due June 30 for most corporations, but exceptions apply! Find out more with NCS Canada.
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Managing payroll in-house offers control and security but requires significant resources and compliance efforts. Outsourcing payroll saves time, ensures accuracy, and reduces costs but may limit control and pose security risks. As payroll outsourcing grows in Canada, businesses must weigh efficiency, cost, and compliance needs to make the best choice.
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Maximise Your Tax Savings: Small Business Deductions in Canada
Running a small business in Canada? Don’t leave money on the table! From office expenses and employee wages to travel and marketing costs, smart tax deductions can significantly reduce your tax burden. This guide covers essential and often-overlooked write-offs, helping you optimize savings and stay compliant with CRA rules. Whether you’re claiming home office expenses or professional services, outsourcing tax preparation ensures you don’t miss a single deduction. Stay ahead, save more, and reinvest in your business growth!
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