FAQ
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FAQ
Frequently Asked Questions
You may be able to deduct expenses such as bookkeeping, software, advertising, insurance, vehicle costs, and home office expenses. We help ensure you claim eligible deductions and keep proper records.
If your business earns more than $30,000 in taxable revenue, GST/HST registration is required. Voluntary registration may also provide tax benefits.
A sole proprietorship is simpler to manage, while a corporation may offer tax and liability advantages. The best choice depends on your business goals.
Use separate bank accounts and credit cards for your business. This keeps your records organized and simplifies bookkeeping.
Common mistakes include late filings, missed GST/HST obligations, poor record keeping, and claiming ineligible expenses.
- Sole Proprietor:June 15 filing deadline, balance due April 30
- Corporations:Return due 6 months after year-end, tax payment due 3 months after
- HST & Payroll: Monthly, quarterly, or annually depending on volume
We help you stay on track and avoid penalties.
Yes, if part of your home is used regularly for business purposes. Eligible expenses may include utilities, internet, and rent.
Keep records of business mileage and vehicle costs. Accurate tracking helps maximize deductions and supports CRA compliance.
Keep receipts, invoices, bank statements, payroll records, and tax filings. The CRA generally requires records to be kept for six years.
Good bookkeeping helps identify deductions, maximize tax credits, and support effective tax planning with your accountant.
Stay calm and respond promptly. Organized records make the process much easier, and we'll help provide the information needed.
You may need instalments if you owe more than the CRA threshold. We can help calculate and schedule payments.
Many business-related meals and gifts are deductible when properly documented. We ensure they are recorded correctly.
You'll need to handle final tax filings, asset transfers, and account closures. Accurate books make the process smoother.
Tax rules change regularly. Staying informed helps you remain compliant and avoid unexpected costs.
Professional bookkeeping saves time, improves accuracy, and helps keep your business compliant while you focus on growth.
Absolutely. We specialize in cleaning up and catching up overdue books, so your records are accurate and up to date.
Our primary focus is bookkeeping. We prepare organized financial records and work closely with your accountant at tax time.
We offer customized pricing based on your business needs. Most clients choose a monthly package and generally stay with us because we deliver results, not because they’re stuck in a contract.
Proudly Supporting Canadian Businesses
Proudly based in Canada, Marnova is committed to helping fellow Canadian businesses grow with confidence.
Behind on your books?
We offer professional catch-up services designed to get your financial records back on track quickly and accurately. Our team ensures every transaction is properly recorded and reconciled, giving you clean, up-to-date books that are ready for your Accountant to file with confidence and ease.
Bring your books up to date and regain peace of mind.