Catch the replay of this episode of Fempire LIVE as Samantha chats with Shalini Dharna of Dharna CPA about the pros and cons of investing in a good accountant and some of the common mistakes business owners make at tax time.
Key takeaways include:
- There is a lot of misinformation out there that entrepreneurs need to be aware of
- Every decision we as business owners make have an accounting and tax implication. It’s crucial to get advice from a professional who knows your situation completely
- The difference between a bookkeeper and an accountant
- If you are only doing your bookkeeping for tax purposes, you are missing out on so much information on your business
- Your numbers tell the story of your business
- A good time to complete and review your bookkeeping is monthly
- Questions you should be asking yourself that only your numbers can tell you
- The number one area Shalini sees people bleeding money in their business
- CRA is the business partner you never knew you had, and ignorance is not an excuse they will accept
- An accountant is a tool to keep in your back pocket for key milestones in your business (ie. start-up, going for funding, growth etc.)
