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    We want to give you as much value as possible. Our blogs and newsletters cover everything from T slips and tax deadlines, to tips on staying organized, and recommendations on great resources for small business owners.

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    How your accountant can help your Canadian healthcare business

    A healthy business starts with True North Accounting. And if you’re a self-employed health professional or run a healthcare company, you have a demanding career with many important decisions and...

    Nov 21, 2023

    Canadian payroll taxes made easy: A practical handbook for entrepreneurs

    As a small business owner, you may have various questions about payroll – it can be a complex and critical aspect of managing your business. In this blog, we’ll outline the payroll process so you can...

    Nov 21, 2023

    How accountants can help maintain financial stability in mature companies

    As your small business evolves into a mature company, you’ll want to have your accountant by your side to ensure your financial ship sails smoothly. As a mature company, your priority will be...

    Oct 09, 2023

    Use automatic bank feeds with Xero to gain insights about your small business

    Xero is making it easier for Canada's small business owners and accounting and bookkeeping advisors to simplify their financial administration tasks. With Xero, Canadian small business clients can...

    Oct 06, 2023

    Navigating the challenges of rapid business growth: The role of an accountant

    Skyrocketing growth is every small business owner’s dream, but the reality is that it comes with its unique challenges. To scale your business, you’ll need careful planning, strategic...

    Sep 05, 2023

    Business valuation: what's your small business worth?

    Small business owners need to know the value of their businesses for many reasons – making informed decisions, attracting investors or planning an exit strategy. Valuing a business is part art, part...

    Aug 09, 2023

    Audit-proofing your small business and best practices for record-keeping

    Being audited is every small business owner’s worst nightmare. To audit-proof your business, staying organized is important to promote compliance and enhance efficiency. This blog post explores best...

    Jul 17, 2023

    Financial planning: Best practices for local Alberta businesses

    Financial planning can sound daunting, but it doesn’t have to be. A financial plan helps small businesses plan for growth by predicting cash flows and financing needs. Knowing your goals is...

    Jul 17, 2023

    The benefits of outsourcing your bookkeeping services for small businesses in Alberta

    You’re constantly juggling a never-ending to-do list when running a small business. And while managing your books is crucial to financial success, most business owners will agree it’s not exactly...

    Jun 19, 2023

    The value of seeking expert advice: how a growth advisor can benefit your local Canadian business

    If you're a local Canadian business experiencing growing pains, getting expert advice is essential to help drive your company forward. Explore the invaluable benefits a growth advisor from an...

    Jun 19, 2023

    How Hubdoc and Xero can reduce your small business paperwork

    As a small business owner, managing paperwork is probably one of your least favourite tasks. It can be challenging to stay focused and organized with the many receipts, invoices, bills and other...

    May 16, 2023

    Maximizing your practice's cash flow with the help of an accountant

    Your accountant is key for a successful practice, as they can recognize and take advantage of financial openings to maximize your business’s profits. You can maximize your practice’s cash flow by: 

    May 16, 2023

    From startup to scaling up: Why entrepreneurs need growth advisory from their accounting firm

    Modern accountants are more than just number whisperers; they're also strategists, advisors and business pros.All accountants do is listen to entrepreneurs and try to solve their problems or give...

    Apr 21, 2023

    FHSA 101: How does the First Home Savings Account work?

    Are you planning to buy your first home? The Tax-Free First Home Savings Account (FHSA) is a great way to help you save for your down payment. Starting April 1, 2023, Canadians can make contributions...

    Mar 22, 2023

    What is the Underused Housing Tax (UHT)?

    As of January 1, 2022, Canada imposed an Underused Housing Tax (UHT), an annual 1% tax on vacant or underused housing ownership, including recreational properties. It’s billed as a foreign ownership...

    Mar 21, 2023

    How to pay business taxes in Canada

    Here are some step-by-step instructions on how to pay your federal and provincial corporate taxes, GST, payroll remittances and even your personal taxes — just skip to the part that is applicable to...

    Mar 16, 2023

    Tax grey areas: Make the most of your vehicle and home office expenses

    Write-offs are frequently a dilemma for some people. What should I write off, what shouldn’t I, and what qualifies as a write-off? Some are more liberal with their write-offs while others tend to be...

    Mar 07, 2023

    The benefits of filing your taxes early

    When it comes to doing taxes, does the early bird get the worm? The deadline to file your personal taxes in Canada for 2022 is April 30, 2023 (May 1 since April 30 is a Sunday). For self-employed...

    Feb 17, 2023

    What business entertainment expenses are deductible?

    Wooing and wowing your clients, prospects and partners is a part of building relationships and your small business. Luckily for all of us, these expenses are 50% deductible and there are tons of...

    Dec 12, 2022

    Write-offs for the fun-loving business owner

    As a small business owner, knowing what you can write off can save you money — and every receipt adds up! More importantly, it can limit your risk for a CRA audit. In this blog, we’ll show you common...

    Dec 12, 2022

    How to file an Articles of Dissolution form in Alberta

    As a small business owner, you’ve decided to shut down your business. You may have experienced a change in lifestyle or retirement, or perhaps your business was not profitable. Whatever the reason,...

    Nov 14, 2022

    How to dissolve your corporation in Alberta (the right way)

    We talk a lot about how to set up your business, but what happens if your company stops doing business? What is the “right way” to dissolve your corporation? If your corporation doesn’t own much, the...

    Nov 14, 2022

    Should you pay a spouse a salary?

    You know that one of the most important tax decisions you’ll make as a small business owner is how to pay yourself. But what about paying your spouse or common-law partner? Does it make sense to...

    Oct 17, 2022

    Should you pay yourself dividends or salary?

    As a small business owner, choosing how and when to pay yourself is one of the most important financial and tax decisions you’ll make. You may have questions about this topic, including:  

    • Should you...
    Oct 15, 2022

    How to use Xero for your small business

    As a small business, we use the same tools we recommend to our clients. Because everyone — including us! — wants to save time on everyday tasks so we can focus on innovating and building our...

    Sep 27, 2022

    Step-by-step guide to setting up Xero for your business

    At True North, we’re all about using the right tools to help your small business work smarter, not harder. That’s why we love using Xero — it’s an accounting software specifically designed for small...

    Sep 16, 2022

    What’s the best way to organize receipts for small businesses?

    Step one: lose the shoebox. Kidding aside, there is a better way to organize expenses and receipts for your small business. We’ll show you how to simplify this task so you can take advantage of any...

    Sep 15, 2022

    Receipts and record keeping: What to keep and how to organize

    As a small business owner, bookkeeping is an essential part of your business. But recording and categorizing all of your business transactions when you’re focusing on building a successful business...

    Aug 16, 2022

    Why would a sole proprietor want to incorporate?

    When you start on your own as a freelance consultant or self-employed trade or professional, sole proprietor is the default category. You may be wondering if it’s time to incorporate? You don’t need...

    Jul 08, 2022

    Sole proprietor vs. incorporation: Learn when to incorporate

    When you start a business, should you become a sole proprietor or incorporate? We get this question a lot, and it’s important to understand the pros and cons of each. In this blog, we explain the tax...

    Jul 08, 2022

    Tax tips for separated parents: who claims child care expenses?

    If you’ve recently separated or divorced, you may be wondering how this affects your tax benefits and credits. For tax purposes, you are considered “separated” after living separately for 90 or more...

    Jun 05, 2022

    Child care expenses: the ins and outs of hiring a nanny

    Working parents juggle a lot. Finding the best child care for your kids means you can rest easy while you focus on building your business. Many families choose to hire a nanny for one-on-one care or...

    Jun 05, 2022

    Alberta government small business grants and programs

    Note: For the latest in Alberta government small business supports, consult the Government of Alberta website. 

    May 23, 2022

    Small business loans and grants in Alberta and Canada

    Capital is vital to starting your small business and helping it thrive. Which route is best to raise money for your small business — loans, grants or something else? In this blog, we share the...

    May 16, 2022

    How to file taxes in Alberta

    Tax season can be stressful, but it doesn’t have to be. With True North Accounting as your small business accountant, we provide support with everything from investment income and capital gains to...

    Apr 15, 2022

    How to calculate business-use-of-home expenses in Alberta

    Now that we’ve looked at some of the grey areas in reporting expenses, let’s focus on how to calculate some of those expenses when using the home as your office. 

    Apr 12, 2022

    Can a grandparent claim child care expenses in Alberta?

    We’ve shared information on claiming child care expenses, including what qualifies, how to determine eligibility and which parent should claim come tax season. But what if you have a family member...

    Mar 04, 2022

    Selling a rental property: tax implications

    Spring is just around the corner, which means it's the peak market for selling rental properties. Listing a home during this time has several advantages, including maximized curb appeal and ideal...

    Feb 28, 2022

    Tax tips: Claiming child care expenses in Canada

    As the world continues to change and office life comes back into mainstream culture, enrolling kids in child care is once again a reality for a lot of working Canadian families. This has implications...

    Feb 10, 2022

    Cryptocurrency in Canada: Considerations for a small business owner

    Do you know Changpeng Zhao? He’s the CEO of cryptocurrency exchange Binance, and has a net worth of US$96.9 billion. This number makes him the wealthiest Canadian, as well as the richest crypto...

    Jan 25, 2022