FTF Accounting

10/26/2026

That $2,000 Christmas bonus? Your employee might only see about half of it 🎁

Cash bonuses are fully taxable. They go through payroll and onto the T4, and a big one can turn your employee's tax refund into a balance owing come April.

There's another option. Non-cash gifts, like a speaker, a TV or other items that can't easily be turned into cash, can generally be tax-free for your employee, up to $500 total a year.

My approach with the team team is simple: ask them. Cash in the bank, knowing it's taxable, or a gift they get the full value of?

There's no wrong answer. Either way, you're showing your team some appreciation.

Every situation is different, so speak to a CPA before you plan year-end rewards. Book a free consult with us, https://ftfaccounting.com/

👇 Team cash or team gift? Tell us which you'd pick.

10/23/2026

Here's how we put a stop to overpaying CRA 🕷️👟

Missed deductions, expenses claimed at the wrong rate, no tax planning until April… they all add up to you paying more than you need to.

We find those things and squash them before they cost you.

Think you might be overpaying? Book a free 30-minute consultion with us.
https://ftfaccounting.com/

👇 What's the creepiest thing you've found in your books?

10/19/2026

Moving receipts from paper to digital is a good start.

But digital clutter is still clutter.

A receipt photo in your camera roll, an email confirmation in your inbox, a supplier message in a DM, and an app export in a downloads folder can all create the same problem: when bookkeeping time comes, nobody knows where the support is.

CRA says records include accounting and financial information documents, and those documents must be kept organized. CRA also says electronic records need to stay accessible and readable. Generally, required records and supporting documents must be kept for six years from the end of the last tax year they relate to.

A practical monthly workflow can be simple:

Capture the receipt.

Label what it was for.

Store it in one consistent place.

Match it to the transaction while the purchase is still fresh.

Tools like Dext, QuickBooks Online, or organized folders can help, but the real win is having one habit your business can repeat.

We help Mission and Fraser Valley businesses, plus virtual clients across Canada, build bookkeeping systems that are easier to keep up with.

Book a free 30-minute consultation https://ftfaccounting.com/

10/17/2026

Your staff Christmas party could be 100% tax deductible 🎄

Most meals and entertainment are only 50% deductible. Staff events are different. When you invite your whole team, the full cost can generally be deducted.

And it's not just Christmas. You can claim up to 6 of these events a year. Think a Valentine's party, a team night out or a team-building day.

The catch? If your bookkeeper doesn't know what the transaction was for, it often gets claimed at 50%. That's money you're leaving on the table.

So label those receipts and give your bookkeeper or accountant a heads-up.

Every business is different, so speak to a CPA about your situation. Book a free 30-minute consult with us, https://ftfaccounting.com/

10/03/2026

A friendly reminder that the bank balance is not profit!

That money may already have been allocated.

Tax. Payroll. GST/HST if applicable. Supplier bills etc.

A clean set of books helps you see what is actually available before you make the next decision.

If your bank account is doing the job of your bookkeeping, let us help tighten the system.

Book a free 30-minute consultation with FTF Accounting.

FTF Accounting https://ftfaccounting.com/

09/30/2026

For new GST/HST registrants, one of the easiest cash-flow traps is treating every deposit as spending money.

A customer pays the invoice. The bank balance looks healthier. Then that cash gets used for payroll, supplies, loan payments, owner draws, or the next urgent bill.

The problem is that part of those funds may be GST/HST collected.

A better workflow is to calculate the GST/HST collected from sales as you go, then transfer that amount into a separate reserve or savings account. Keep it out of day-to-day operating cash so it is not accidentally spent before the remittance is due.

Your actual filing may also include eligible input tax credits, where the rules apply. That is why the bookkeeping still matters.

But the habit is simple: separate the GST/HST cash before it disappears into regular business spending.

FTF Accounting helps service businesses, contractors, and owner-operators in Mission, the Fraser Valley, and across Canada virtually set up cleaner bookkeeping and GST/HST remittance systems.

Book a free consultation. link in bio

09/30/2026

For new GST/HST registrants, one of the easiest cash-flow traps is treating every deposit as spending money.

A customer pays the invoice. The bank balance looks healthier. Then that cash gets used for payroll, supplies, loan payments, owner draws, or the next urgent bill.

The problem is that part of those funds may be GST/HST collected.

A better workflow is to calculate the GST/HST collected from sales as you go, then transfer that amount into a separate reserve or savings account. Keep it out of day-to-day operating cash so it is not accidentally spent before the remittance is due.

Your actual filing may also include eligible input tax credits, where the rules apply. That is why the bookkeeping still matters.

But the habit is simple: separate the GST/HST cash before it disappears into regular business spending.

FTF Accounting helps service businesses, contractors, and owner-operators in Mission, the Fraser Valley, and across Canada virtually set up cleaner bookkeeping and GST/HST remittance systems.

Book a free consultation. https://ftfaccounting.com/contact-us/

FTF Accounting

09/28/2026

🤔 If you run a business in British Columbia, you have probably heard people use the terms bookkeeper and accountant interchangeably. In practice, they serve different purposes.
Check out the differences 👉🏼

If you run a business in British Columbia, you have probably heard people use the terms bookkeeper and accountant interchangeably. In practice, they serve

09/25/2026

1. Myth: hiring makes you profitable faster.
Reality: a bad hire before your systems are ready can cost you more than it saves.

2. Myth: you need a full benefits package from day one.
Reality: many first hires start with just wages and vacation pay — benefits can come later.

3. Myth: payroll is just “pay them and done.”
Reality: source deductions, remittances, and ROE requirements start the moment you cut that first cheque.

Thinking about your first hire? Let’s make sure your payroll setup is ready before they start.
https://ftfaccounting.com/

09/21/2026

💳 How you spend your money is just as important as where you spend it...