Blog
Tips, guides, and insights on bookkeeping, accounting, payroll, and growing your Canadian business.
How to Account for Inventory Shrinkage in Canada
Inventory shrinkage is the gap between what your books say you own and what you actually have on hand. Here is how to calculate it, record it, and defend it in a CRA review.
Capital Gains Exemption Canada Small Business: Complete Guide
A complete guide to the capital gains exemption for Canadian small business owners: eligibility rules, the $971,190 lifetime limit, common mistakes, and how Awditify helps with tax planning.
How to Write Off Bad Debt in Canada: A Practical Guide
Learn how to write off bad debt in Canada, including GST/HST adjustments, income tax deductions, and CRA requirements. Includes a real-world example for a contractor firm.
How to Claim the Home Office Deduction in Canada (T2200 Guide)
A practical guide to claiming the home office deduction in Canada using the T2200 form. Covers eligibility, eligible expenses, calculation methods, and common mistakes.