Mainville & Associates/Associés Inc.

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Mainville & Associates/Associés Inc. Nous sommes une corporation professionnelle spécialisée dans tous les domaines de la comptabilité

Nous fournissons des services de tenue de livres, comptabilité et fiscalité pour les entreprises, les particuliers et les organismes à but non lucratif.

Bought equipment, a computer, furniture or another significant item for the business?If you use QuickBooks Online, attac...
10/22/2026

Bought equipment, a computer, furniture or another significant item for the business?

If you use QuickBooks Online, attach the invoice and supporting documents to the related transaction so the information is easy to find when the books are reviewed.

For major purchases, keep:
• The invoice or receipt
• Financing or loan documents
• Trade-in information, if applicable
• A clear description of what was purchased
• Information about when it was received or put into use

Reach out to discover the QuickBooks subscription we offer when you work with us!

MYTH: “There’s money in the bank, so the business must be profitable.”REALITY: Cash in the bank and business profit are ...
10/20/2026

MYTH: “There’s money in the bank, so the business must be profitable.”

REALITY: Cash in the bank and business profit are not the same thing.

The timing of customer payments, loan proceeds and repayments, owner contributions or withdrawals, unpaid bills and other transactions can all affect cash without having the same effect on profit.

Your bank balance tells you how much cash is available at a point in time. Your financial statements tell a broader story about how the business is performing.

A tax deduction can reduce taxable income, but it doesn’t normally reimburse you dollar for dollar for what you spent.Th...
10/13/2026

A tax deduction can reduce taxable income, but it doesn’t normally reimburse you dollar for dollar for what you spent.

That means spending $1 simply to get a deduction worth some fraction of $1 is not automatically a good business decision.

Before buying something because it is “tax deductible,” ask:
• Does the business actually need it?
• Can the business afford it?
• Would I still consider this a worthwhile purchase without the tax benefit?

Tax planning should support a sound business decision, not replace one.

If your business is an eligible quarterly payroll remitter, your July-to-September source-deduction remittance is due in...
10/08/2026

If your business is an eligible quarterly payroll remitter, your July-to-September source-deduction remittance is due in one week on **October 15, 2026**.

Payroll remitting frequency depends on the CRA remitter type assigned to your business, so not every employer follows the same schedule.

If you’re unsure about your remitting frequency or due date, check your CRA account or your payroll remittance information.

October 15, 2026 is the quarterly payroll remittance due date for eligible quarterly remitters.

Not every business purchase is treated the same way for tax purposes.Routine operating costs such as supplies may genera...
10/05/2026

Not every business purchase is treated the same way for tax purposes.

Routine operating costs such as supplies may generally be current expenses. Longer-lasting property such as equipment, furniture, computers and vehicles may instead be capital property, with deductions determined under capital cost allowance rules.

The details of the purchase matter. If you’re making a significant purchase before year-end, keep the invoice and supporting documents and ask about the tax treatment rather than assuming the full cost is an ordinary expense.

As December approaches, business owners often hear: “If you need it, buy it before year-end so you can write it off.”But...
10/01/2026

As December approaches, business owners often hear: “If you need it, buy it before year-end so you can write it off.”

But a “write-off” doesn’t make a purchase free.

A deductible expense generally reduces the income on which tax is calculated. And some longer-lasting purchases, such as equipment, furniture, computers or vehicles, may be capital property rather than an ordinary current expense.

Before making a significant purchase for tax reasons, make sure it also makes sense for the business.

September 30 marks the end of the third quarter of 2026.If your business operates on calendar quarters, now is a good ti...
09/29/2026

September 30 marks the end of the third quarter of 2026.

If your business operates on calendar quarters, now is a good time to make sure your July, August and September records are complete.

Before closing out Q3, check that you've:
✓ Recorded your sales and income
✓ Entered your business expenses
✓ Saved your receipts and invoices
✓ Reconciled your bank and credit-card accounts
✓ Updated your accounts receivable and payable
✓ Recorded GST/HST correctly
✓ Gathered any outstanding paperwork

For businesses that file GST/HST quarterly on calendar quarters, the end of September also means another reporting period has wrapped up.

Good records throughout the year make filing deadlines, and year-end, much easier.

You invoice a customer $1,000 plus HST and receive $1,130.Did your business earn $1,130? Not quite.The $1,000 is your sa...
09/24/2026

You invoice a customer $1,000 plus HST and receive $1,130.

Did your business earn $1,130? Not quite.

The $1,000 is your sale. The additional $130 of HST is tax you've collected from your customer for CRA.

A GST/HST registrant generally calculates the amount to remit to the CRA by considering:

GST/HST collected or collectible on sales
minus eligible Input Tax Credits (ITCs)
= net GST/HST to remit

Input Tax Credits generally allow GST/HST registrants to recover GST/HST paid on eligible business purchases and expenses, subject to the applicable rules.

That's one reason good bookkeeping matters: you want to properly track sales, GST/HST collected, business expenses and eligible GST/HST paid rather than treating every dollar entering or leaving the bank account the same way.

There are only 100 days left in 2026.December 31 may still feel a long way off, but now is a great time for business own...
09/22/2026

There are only 100 days left in 2026.

December 31 may still feel a long way off, but now is a great time for business owners to look at where their records stand.

Before the year gets away from you, consider checking:
1. Is your bookkeeping current?
2. Are you missing receipts or invoices?
3. Are your accounts receivable up to date?
4. Have you kept your vehicle records?
5. Have you made any major business purchases?
6. Are your GST/HST and payroll records current?

Year-end preparation doesn't have to happen at year-end.

A little work now can make January, and tax season, significantly easier.

Address

76 St-Polycarp Street, PO Box 59
Moose Creek, ON
K0C1W0

Opening Hours

Monday 9am - 4:30pm
Tuesday 9am - 4:30pm
Wednesday 9am - 4:30pm
Thursday 9am - 4:30pm
Friday 9am - 1pm

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