For many Ontario entrepreneurs, the term "tax planning" might bring to mind a flurry of last-minute calculations and a dash to meet deadlines. But here at Misic Accounting, we believe tax management shouldn't be a seasonal scramble but a steady, year-round commitment. So let's dive deeper and uncover why ongoing tax planning is pivotal to your business's success.

Tax season can be a stressful time for many business owners in Ontario. You may wonder how to maximize your tax return and reduce your liability. The good news is that with a little planning and organization, you can ensure that you’re taking advantage of every deduction and credit available to you.

When it comes to accounting and taxes, clients have many questions, but they often find answers difficult to come by. Misic Accounting wants to arm you with the most accurate information available to help you deal with tax issues, and to do this, we’ve answered some of the most frequently asked questions about your taxes.

For many businesses, having the right accountant can be a game-changer. A great accountant can assist with financial matters such as business formation and incorporation, tax planning and preparation, and financial statement analysis. They can also provide ongoing support and advice to help individuals and businesses make sound financial decisions and achieve their financial goals. But with so many professionals out there, it’s hard to know which one is right for you.

Misic Accounting wishes you and your family a happy and safe holiday season and all the best for the New Year 2023!

We would like to inform our clients that we will be closed from December 26, 2022, to December 31, 2022.

Starting a new business is exciting, as you get to be the boss, make all the crucial decisions, and keep a large portion of the profits. However, often entrepreneurs are not prepared for the rollercoaster ride of starting up, which includes managing cash flow, creating awareness, and chasing up debtors. Therefore, weighing up your options before jumping in with both feet is vital.

Bookkeeping is an essential part of filing for taxes and can be quite a tedious task if one has taken it upon themselves to take care of their finances. It expects one to analyze the data and accurately track financial transactions. 

Are you tired of getting a large tax bill at year-end? Tired of spending countless hours piecing together receipts at year-end to frantically try and finish your tax returns on time? And correctly?

Maintaining proper accounting and bookkeeping processes gives reliable measures of your business’ performance. So it is safe to say that your company’s growth and success hugely depend on it.

Whether you run a small, mid-size, or large business, bookkeeping plays an integral part. Bookkeeping refers to the process of organizing and maintaining financial data and transactions to help you run your business smoothly and efficiently. 

Every industry has its language and terms. These words and phrases can be confusing to anyone who is not part of the daily operations of a specific sector, and the accounting industry is no exception.

Be it maximizing your tax savings or helping better organize your financial records, the benefits of hiring the services of a competent and professional accountant are many. A professional accountant maintains track of your business’ income, liabilities, and assets, and by doing so, allows you to focus on growing your business. Accountants prepare and delve into financial records and help with tax filing, bookkeeping, and payroll services. They offer tax advice, prepare financial statements, and, in some cases, may help make vital business decisions.

We are delighted to announce the launch of our new website!

New Website Coming Soon!