When Income & Losses Don’t Mix: Understanding CRA Rules A clear guide from your bookkeeper on why your $90,000 capital loss doesn’t cancel out your $80,000 of business and interest income — and how to avoid a costly reassessment. Tax rules can feel complicated, especially when you earn income from different sources and experience investment losses in the same year. As a professional bookkeeper, I see this confusion all the time. A recent example illustrates it perfectly: A cl

It is incredibly easy to look at a busy calendar, a steady stream of sales, and a decent bank balance and assume your business is doing great. But there’s a big difference between keeping busy and making a profit. I know a contractor who was constantly booked out months in advance doing custom renovations. His phone wouldn't stop ringing, the jobs were huge, and there was always six figures moving through his bank account. But at the end of the year, when it came time to pay

Even though you already paid your tax liability back in April (or should have), the actual paperwork deadline is June 15—which means if you haven't filed yet, you’re likely in the middle of a scramble to pull together your final numbers this week. If you've spent the last month stressing out, digging through old emails for missing invoices, or trying to remember what a random expense from last summer was, you know you don't want to do that again next year. The mistake most pe

When your books are accurate, you can price jobs properly, stay ahead of cash‑flow issues, and make decisions based on real numbers. And if bookkeeping keeps slipping through the cracks, getting help isn’t a weakness. It’s a smart investment that gives you back your time and protects your profits.