Account Direct
Account Direct blog
Plain-language bookkeeping and tax notes for Canadian and Quebec small businesses.
Job done, invoice waiting: why invoice the same day?
An invoice that is not sent does not get paid. Invoicing the same day speeds up your cash, and a late invoice does not delay your income tax or sales tax.
October 16, 2026
Parking ticket on a client visit: is it deductible?
A parking ticket you get on a client visit is not deductible, even on the job. Parking you pay for business is. Feed the meter and keep the receipt.
October 14, 2026
Can you write off 100% of new equipment in year one?
A proposed federal rule would let businesses deduct 100% of most equipment in the year it is put to use, for purchases from September 15, 2026. What to know.
October 12, 2026
Paying your kid from the business: is the wage deductible?
A wage paid to your child is deductible when it is actually paid, the work is needed and the pay is fair. Here are the three conditions and the proof to keep.
October 9, 2026
Self-employed? Who is withholding your tax?
Usually no one withholds tax from a self-employed person's payments. Setting a share of every payment aside is what keeps tax time from being a shock.
October 8, 2026
Paid a year of insurance upfront? Is it all deductible now?
A prepaid expense is deducted in the year or years it covers, not the year you pay it. Here is how a year of insurance paid on October 1 splits over two years.
October 8, 2026
Bought stock this year? Is it all an expense?
The cost of goods you buy to resell is deducted when they are sold. Whatever is still on the shelf at year-end gets counted, not deducted. Here is how it works.
October 2, 2026
Do your books match your bank statement?
A monthly bank reconciliation checks that every line on your statement has its twin in your books, to the penny. Here is why it matters and how to do it.
September 30, 2026
Business in the red this year? Report the loss anyway
A business loss can lower the tax on your other income for the year, like a salary. And a loss you can't use this year can often help in other years.
September 28, 2026
Can't pay your tax balance? Why you should file on time anyway
Short on cash at the deadline? File your return on time anyway. The late-filing penalty is charged on late returns, while interest only runs on what is unpaid.
September 25, 2026
An invoice that never got paid: can you write it off?
An invoice you counted as income that became truly uncollectible can be written off as a bad debt, and the sales tax you remitted on it can come back.
September 23, 2026
No income last year. Do I still have to file?
No income does not cancel the filing obligation. A corporation files for every tax year, a sales tax registrant for every period, even at zero.
September 18, 2026
Is my business loan payment a deductible expense?
A loan payment is not one expense. The interest side is usually deductible, the principal repayment never was an expense at all, and the books have to split them.
September 16, 2026
Is a big equipment purchase deductible this year?
Buying equipment is not a one-year write-off. The cost comes off over several years through capital cost allowance, and the clock starts on use.
September 14, 2026
Faded receipts: do they still prove a business expense?
Thermal paper goes blank in a drawer, but you have to be able to support the expense for six years. Photograph the receipt the day you get it.
September 9, 2026
Does a write-off make a business purchase free?
No. A deduction lowers the income your tax is calculated on, not the tax bill itself. The tax you save is only a fraction of what you spent.
September 7, 2026
Is a card statement enough proof for a business expense?
Usually not. A statement shows an amount and a merchant. The CRA asks the document to show the seller, the date, a full description, and the tax.
September 4, 2026
Is the sales tax I collect my money?
No. You collect it as an agent of the Crown, and the law deems it held in trust, separate and apart from your own property, until you remit it.
September 2, 2026
Is paying myself a business expense?
No. As a sole proprietor you are taxed on business profit, and your draws are not part of that math. Here is where the money you take out actually belongs.
August 31, 2026
What does the CRA want in a vehicle logbook?
Your vehicle deduction is a percentage, and the logbook is what proves it. Here is what to record for each trip, plus the three-month shortcut the CRA allows.
August 27, 2026
Do I need a separate bank account for my business?
No rule forces a sole proprietor to open one, but the law does require records that hold up. Here is what a mixed account really costs at tax time.
August 24, 2026
Are business meals tax deductible in Canada?
Lunch with a client is deductible at 50 percent, and the GST and QST credits are limited the same way. In Quebec, a second ceiling based on your sales applies.
August 21, 2026
Do I have to pay my income tax by instalments?
Past a threshold, the CRA and Revenu Québec expect four payments a year. The thresholds, the dates, and the three ways to calculate the amount in 2026.
August 19, 2026
Can I deduct my cell phone if I am self-employed?
Cell phone, bank fees, dues and licences: three expenses you already pay every month. What is actually deductible in Canada and Quebec in 2026.
August 17, 2026
Do I have to report cash income in Canada?
Paid in cash? It is still reportable business income in Canada. What the law actually says, what an omission costs, and why declaring pays off in 2026.
August 13, 2026
Is my home office deductible when self-employed?
If you are self-employed in Canada, your home office is deductible when one of two CRA conditions is met. Here is how it works, and why it cannot create a loss, in 2026.
August 12, 2026
Months behind on your books? Here is how to catch up
Falling behind on your bookkeeping is common, and it is fixable. Here is what filing late actually costs, and how a month by month catch up works.
August 3, 2026
Reminder: quarterly GST/QST is due Friday, July 31
Our Facebook reminder, reposted here in full: quarterly GST/QST filers must file and pay the April to June 2026 period by Friday, July 31, 2026.
July 28, 2026
What tax mistakes cost the self-employed the most?
Mixing accounts, losing receipts, and skipping tax instalments are three mistakes that cost self-employed Canadians money. Here is how to avoid each one in 2026.
July 24, 2026
Does your invoice need to be in French in Quebec?
In Quebec, invoices must be available in French, and a compliant Canadian invoice has to show specific details. Here is what your invoices need in 2026.
July 23, 2026
Three restaurant expenses that get missed in the books
Staff meals, spoilage, and delivery commissions are the three restaurant costs that most often go unrecorded. Here is how each one should be handled.
July 22, 2026
How long do I have to keep my receipts and records?
Six years after the end of the last tax year they relate to. Here is exactly when the clock starts, what counts as a record, and when you can destroy them early.
July 21, 2026
How does bookkeeping actually work? Three simple steps
You send your receipts and statements, we keep your books current, and your documents are ready when you need them. Here is what bookkeeping looks like in practice.
July 20, 2026
Snap a receipt from your phone, and your books stay up to date
No scanner, no filing cabinet, no month-end catch-up. Photograph a receipt from your phone, upload it, and your bookkeeping stays current. Here is how it works.
July 17, 2026
The shoebox of receipts is costing you more than you think
A shoebox of receipts leads to missed deductions, faded proof, and a year-end scramble. Here is what it really costs and a simpler way to keep your records.
July 16, 2026
Do I need to register for GST and QST in Quebec?
Most Quebec businesses must register for GST and QST once taxable sales pass $30,000 over four quarters. Taxi and ride-share drivers register from the first dollar.
July 15, 2026
Tradespeople: your vehicle, tools, and materials are deductible, if you keep the proof
For contractors, electricians, and plumbers, vehicle costs, tools, and job materials are deductible, but only with a receipt to back each one. Here is what to keep.
July 14, 2026
When are quarterly GST/QST returns due? (April to June)
If you file GST and QST quarterly, the April to June period is due by the end of July. Here is how quarterly GST/QST deadlines work and what happens if you file late.
July 13, 2026