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Top 10 Tax Tips for Small Business Owners


Jordan N. Brown is a young CPA who has a focus on the small business market in Saskatoon.  Jordan has been operating his forward-thinking CPA firm named Lift Accounting for the past 5+ years.  During this time, Jordan has had the opportunity to assist 200+ small business owners with their accounting, bookkeeping, and taxes.  Jordan has seen first-hand the stress and anxiety that small business owners can feel during tax time.  This is why Jordan has outlined his Top 10 Tax Tips for Small Business Owners below.

Know your business and personal tax deadlines.

Keep your business and personal finances separate.

Educate yourself on what business expenses you can claim.

Use a cloud-based bookkeeping system (i.e. QuickBooks Online).

Update your bookkeeping records on a regular basis (i.e. Monthly).

Track your vehicle mileage using an app (i.e. MileIQ).

Take pictures of your receipts using an app (i.e. Receipt Bank).

Write who you met and the purpose of the meeting on your meal receipts.

Develop a filing system to keep your paper/digital documents organized.

Sign-up for online access to various business accounts (i.e. CRA, SK PST, WCB).

By following Jordan's Top 10 Tax Tips for Small Business Owners above, you can approach tax time feeling more confident and organized.  If you have any questions feel free to reach out to Jordan via email (jordan@liftaccounting.ca) or phone (306-713-2477).

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