Muia Consulting

An effective accounting system is essential for your business to run smoothly. This is the system that records all debits and credits. It is a non-negotiable must-have for any business as it not only keeps records but also shines a spotlight on long-term company progress. You can plan and strategize your business simply by looking at the facts and records provided by your accounting department. So it's a surefire way to help companies make better decisions. Business owners should focus on driving innovation and growth and work on what sustains their business. Bookkeeping and routine money tracking should be handed down to the accounting department. Muia is a small business accounting firm in Toronto that remarkably performs this task. The Key Features of Accounting for Small Businesses Whether you're a startup, enterprise, or small business, accounting guide you to create strategic plan to accelerates your business growth . It helps you understand your real business needs and p...

HST Registration In Canada, nearly all businesses need an HST (Harmonized Sales Tax) number to classify their company. The registration process helps to save you from paying penalties and interest. The business owner should go for the calculation and collection of HST on all its supplies acquisitions when a business gets its HST/GST number. But, you should know particular terms like GST/HST and HST/GST number before taking a deep dive. In this blog, we will help you with the registration process for the GST HST Registration number.  HST Registration What Is The GST/HST Number? The Canada Revenue Agency (CRA) assigns an exclusive tax identification number that assists throughout your business accounts. It is quite comparable to the business number (BN). For reporting and gathering HST (Harmonized Sales Tax) and GST (Goods and Services Tax), a business company requires GST/HST numbers. Though, the necessary foodstuff and some real estate services are not included in the GST/HST tax...

  Rental revenue, like any other kind of income or revenue, must be tracked, managed, disclosed to the government, and taxed properly. Here you will get to know your duties when it comes to rental revenue and considers if it's a good idea to engage a  Registered Accountant Vaughan to assist you. Although it is not required by law to have an accounting handle your rental income, you may wish to engage one to keep your records in order, claim your self-assessment expenditures, and give you financial advice on rental and other sources of income. Is there any need of having an accountant for the rental property? Accounting for your rental revenue, claiming costs, and reporting your income with HMRC are all crucial things to keep track of, and if accountancy isn't your strong suit, you might want to consider hiring an accountant to assist you to handle your rental property's finances. However, if you are proficient with spending, monitoring, and HMRC reporting, you m...