In The News
Rajasri CPA in Toronto, Ontario, is an accountant and business consultant who works with small and medium sized businesses to help them achieve their goals and reach their potential. Known as the “Business Doctor,” Rajasri can diagnose your business’s problems and come up with a practical and ethical solution. He believes in building trusting, long-term relationships with his clients to ensure their success. When working with Rajasri CPA you will always get a prompt, timely response to your inquiries, and all meetings, conversations, and communications are completely confidential... [Read More]
You may feel capable of handling all aspects of your small business, including the accounting, but professionals such as Rajasri CPA in Toronto offer much more than just crunching numbers. There are many good reasons to hire a Chartered Professional Accountant for your small business, from inception to day-to-day operations and growth. Taking advantage of professional services can range from hiring an accountant for a few hours for special tasks, such as tax returns, to ongoing accounting and monitoring... [Read More]
If your business is facing a tax audit, Rajasri CPA in Toronto says it is time to call in a Chartered Professional Accountant for help. The CRA can randomly audit any business, at any time, even if there are no red flags to instigate an investigation. The purpose of an audit is to verify that your company’s books and records correctly reflect the real tax situation of your business and that it adheres to all the tax obligations when you file a return. During an audit, the CRA will look at reporting items such as income revenue, HST, CPP and Employment Insurance... [Read More]
Incorporated businesses, sole proprietors and partnerships have no assurance that they will never have to face an audit, but Rajasri CPA in Toronto recommends steps business owners can take to decrease their chances of being targeted by the CRA. Audits can be time-consuming and complex, and are certain to cause a great deal of stress and sleepless nights. Although the CRA may randomly perform an audit, one is usually instigated after a verifiable report of wrongdoing or red flags such as variations in historic reporting, consecutive losses claimed as a tax liability for other income or other suspicious activity such as living a lifestyle beyond the means of your recorded income... [Read More]
One question that Rajasri CPA in Toronto, Ontario, often hears is whether or not it is a good idea for a small business to outsource their bookkeeping and accounting services.
With software, such as QuickBooks, easily accessible, many individuals and small business owners believe they can cut costs by doing their own accounting and bookkeeping. The trouble with this is that running a business is more than just balancing the books. If you have only a few employees, or are a sole proprietorship you may struggle to find the time to do the accounting, and when you do, you might be unsure if you’re even doing it correctly. While simple accounting isn’t hard to learn, it can take time away from your other duties as a business owner... [Read More]