YAC Team

Articles posted by the YAC team are a collaborative effort aimed at providing high-quality informative content, guides, and important updates from the world of business accounting
Small Business

Salary vs. Dividends: which is better?

Do you know how paying a salary is different from paying dividends? Learn this and some of the important considerations for each option in this article

Tax Tips

What you should know about vehicle tax deductions for your small business

Canadian entrepreneurs and businesses can deduct many of the expenses incurred by operating a vehicle for business purposes. However, it is important to be aware of what the requirements for deductions are to make sure you are keeping all required logs and not deducting more than permitted.

Case Study

Case study: Helping OpsXL modernize their accounting and save time

See how Your Accounting Cloud helped OpsXL streamline their bookkeeping and payroll, optimize their tax planning, and support them throughout the pandemic

Guides

Should your next hire be an employee, contractor, or freelancer?

The explosion of the gig economy made self-employed talent available in practically all industries, yet many small businesses are still not aware of how this new talent can benefit them. Learn about the differences between employees, freelancers, and contractors, and how to decide which choice is best for your business.

Guides

Getting government funding for your business: everything you need to know about government grants and where to find them

Government funding can offer much-needed support to empower business owners to expand, grow, and undertake new projects. Learn what you need to know about government grant funding and where to start your government funding research.

Small Business

Should I incorporate? Weighing the pros and cons of sole proprietorships and incorporation

Whether you are just starting your business or are an experienced entrepreneur, incorporation can be a complex but important option to consider. This article breaks down some of the pros and cons of the two most common business structures in Canada - sole proprietorship and corporation - to help you understand whether incorporating is right for your business.

Small Business

The most important workplace lessons of the pandemic

As 2020 is coming to a close, we can reflect on what has been an especially challenging and unprecedented year. With the pandemic changing virtually all aspects of how we lead our lives and businesses, there are valuable lessons we can take away as we plan and prepare for the year ahead.

Accounting News

Personal Real Estate Corporation (PREC) now available in Ontario

Ontario has joined the list of provinces allowing real estate professionals to incorporate a PREC, meaning Ontario agents can now take advantage of the tax and financial benefits of incorporation

COVID-19

Canada announces plans for new business support measures during pandemic

The Federal Government announced plans for a new business rent subsidy program, extensions to the wage subsidy program until June 2021, and increases to the emergency business account loan

COVID-19

EI or CRB – which programs replacing CERB are you eligible for?

Canada’s plans for post-CERB transition include a more accessible EI system and three new temporary benefit programs (CRB, CRSB, CRCB) aimed at supporting Canadians and promoting economic recovery

Accounting News

What Canada's Throne Speech means for business owners, employers, and individuals

Canada's 2020 Speech from the Throne outlined important priorities including continuing efforts to fight the COVID-19 Pandemic and extending business support programs

Cloud Accounting Basics

Cloud Accounting for the Information Technology and Real Estate Industries

Cloud accounting and your small business: A blog miniseries exploring the basics of cloud accounting

Accounting News

3 accounting technologies that will elevate your small business in 2020

Cloud Accounting, Automated Accounting, and Optical Character Recognition continue to shape and innovate the role and impacts accountants have on small businesses

Cloud Accounting Basics

The basics of cloud accounting

What is cloud accounting? Discover how cloud-based technology can help your small business thrive

Small Business

How the global pandemic is changing accounting practices

And the top 4 things you should expect from your accountant in a post-COVID world

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