Business Income

Keep information that shows where your business income came from — sales, invoices, deposits, e-transfers, credit/debit card payments and other payments received.

Business Expenses

Keep receipts and invoices for the things you buy for your business.

Things like:
supplies • advertising • software • insurance • repairs • professional fees • office expenses • equipment

Not sure if something is a business expense?

Keep the receipt. Ask us later.

GST/HST

If you’re registered for GST/HST, keep the information supporting both the GST/HST you charged and the GST/HST you paid on business purchases.

Your invoices and receipts matter here.

Payroll

Payroll creates its own paper trail.

Keep information relating to employees, wages, payroll deductions, remittances, T4s, ROEs, vacation pay and benefits.

Good payroll records make year-end a whole lot less painful.

Vehicles

If you use a vehicle for business, keep track of your business kilometres and why you were travelling.

Also keep your fuel, insurance, repairs, registration and other vehicle costs.

Home Office

If you work from home, keep information about your workspace and the household costs that may relate to it.

We can help determine what applies to your situation.

Farm

Farm records can get complicated quickly.

Keep information about things such as:
livestock • grain • feed • seed • fertilizer • fuel • equipment • repairs • insurance • government programs • sales

Don’t worry about deciding what’s important before you bring it to us.

Rental Property

Keep income and expense information for each rental property.

That includes things like:
rent received • mortgage information • property taxes • insurance • utilities • repairs • advertising • management fees • major improvements

Keep the paperwork even if you’re not sure how it will be treated.

Employment Expenses

If you have employment expenses, keep your T4 and information about the expenses you incurred because of your employment.

Depending on your situation, that might include:
vehicle use • travel • supplies • professional dues • workspace expenses

Not every work expense is automatically deductible — that’s where we come in.

Major Purchases

Bought a vehicle, computer, equipment, machinery or something else significant for the business?

Tell us about it.

Don’t automatically throw a large purchase into the expense pile. Some purchases are treated differently for tax purposes.

Corporate Records

Corporations have another layer of records to keep, including incorporation information, shareholder information, corporate documents, minutes, resolutions and annual filings.

Some corporate and property records need to be retained longer than ordinary day-to-day paperwork.