Author - MiAccounting

Running a Successful Restaurant

Running a successful restaurant is not only about serving great food, but also about having a solid understanding of accounting principles. As a Canadian restaurant owner, it's essential to be familiar with the country's accounting laws and regulations to keep your business financially stable. This blog will provide an overview of various accounting aspects that are crucial to Canadian restaurant owners, such as paying servers tips on paychecks, payroll, bookkeeping, HST, CRA rules, tax filing, leasehold improvements, and financing. Paying Servers Tips on Paychecks: When it comes to paying servers tips on paychecks, Canadian restaurant owners must ensure they follow the guidelines set by the Canada Revenue Agency (CRA). Tips and gratuities are considered taxable income, and servers must report them...

Category: Blog

10 Crucial tips for Canadian E-Commerce Companies

The pandemic has drastically accelerated the shift towards digitization in every aspect of our lives, including shopping. The e-commerce sector has experienced unprecedented growth and is a prime opportunity for Canadian start-ups. The low start-up costs, the ability to access a wider marketplace, and the ease of online shopping make it an attractive venture. However, the e-commerce industry is also highly competitive and demands careful planning and execution for success. Here are ten tips for Canadian e-commerce companies to maximize their chances of success. As the e-commerce industry experiences unprecedented growth, Canadian start-ups need to navigate a complex landscape to succeed. At MiAccounting, we understand the intricacies of e-commerce and offer expert accounting and bookkeeping services to help businesses thrive...

Category: Blog

Why Canadian Nonprofits Should Consider Outsourcing Their Accounting

Nonprofits play a critical role in Canadian society, helping to address some of the most pressing issues affecting the country's most vulnerable populations. Despite their significant impact, however, nonprofits face a range of challenges in today's rapidly changing world. To stay relevant and effective, nonprofit leaders must adopt new strategies and approaches, such as virtual fundraising, social media engagement, and donor retention programs. However, this can be difficult when financial management tasks consume so much of their time and energy. To be successful, nonprofits must maintain accurate financial data to comply with Canada Revenue Agency (CRA) rules and regulations. This means that financial management is a critical component of nonprofit operations. Unfortunately, nonprofit leaders often find themselves bogged down in...

Category: Blog

Real Estate Rentals in Canada

If you're a Canadian who owns a rental property, you may be wondering about the tax implications of rental income. The Canada Revenue Agency (CRA) has specific rules that landlords must follow to properly report rental income and expenses on their tax returns. In this blog, we'll explore these rules and provide tips for maximizing your rental income while minimizing your tax liability. Rental Income in Canada: Understanding the Basics Rental income is defined as any money you earn from renting out a property. This includes rent payments, security deposits, and any other fees charged to tenants. Landlords must report rental income on their tax returns, and the amount of tax owed will depend on several factors, including the amount of...

Category: Blog

Subcontractors vs. Payroll

As a startup, deciding whether to hire people as subcontractors or employees can be challenging. Both options have their benefits and drawbacks, so it's important to evaluate them carefully before making any decisions. In this blog, we will breakdown what Canadian small businesses need to know when evaluating hiring people as subcontractors vs. payroll, including CRA rules and tax implications. Subcontractors vs. Employees Subcontractors, also known as independent contractors, work on a project-by-project basis and are responsible for their own taxes and benefits. They typically have more control over their work than employees do. In contrast, employees are subject to the company's rules and regulations, receive benefits, and have their taxes withheld by the company. CRA Rules for Subcontractors The Canada Revenue Agency...

Category: Blog

Starting a New Corporation?

Starting a New Corporation? Here's What You Need to Know About Tax and Accounting   Starting a new corporation in Canada can be an exciting and challenging experience for any entrepreneur. Whether you are starting a new business or transitioning from a sole proprietorship or partnership, there are several critical tax and accounting considerations that you need to keep in mind. Choosing the Right Business Structure Choosing the right business structure is critical for new corporations in Canada. The type of business structure you choose can impact everything from tax implications to the level of personal liability you may face. There are three common business structures in Canada: Federal Corporations: These corporations are created under federal legislation and have the right to operate...

Category: Blog

Affordable and Professional Services

MiAccounting provides professional and affordable income tax preparation services for small businesses

Category: Blog

Categorize for Tax Time

If you're like a lot of small businesses, you've got a jumble of receipts and other paperwork that you need to categorize for tax time.

Category: Blog

The Millennial Small Business Owner

The MiAccounting team caters to the millennial small business owner by offering affordable and reliable services

Category: Blog

Income Tax Preparation

Our income tax preparation services will do all the preparation, processing, and filing for you or your company.


We assist in processing your payroll in a timely and errorless manner. For years, we have worked with hundreds of different companies to process their payrolls on a regular basis.

SR&ED Application Assistance

Scientific Research and Experimental Development Tax Incentive and Program Application Assistance.

Premium WSIB Services

Having affordable workplace insurance that can protect you and your workers has become harder to achieve than ever before


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