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Welcome to Numetrica's Blog — your hub for expert insights on accounting, bookkeeping, finance, and business strategies.

Navigating CEBA Loan Challenges: Insights from Doyle Salewski Inc.

I have known Brian Doyle as a trustee master for a few years however, I have known about the company that he co-founded Doyle and Salewski for a long time. He is an amazing person, he responds to email lightening fast, extremely knowledgeable, straight, just to name a few. He is a great asset in any mastermind group. I’m privileged to know him and now call him a friend. Here is my latest discussion with Brian concerning CEBA Loan.  I tried for this loan to be forgiven but non only the ruling liberals did not listen, the opposition did not support it either. At least the issue was brought ...

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Forget dividends, it’s a trap!

This is what I told John, a client of mine. John is a lawyer and asked me to review his financial statements. While I was reviewing the income statements, I noticed that the total salary for the 12-month period was $45K. I looked in more detail on his corporation QuickBooks Online (QBO) file and notice his salary was at $22K. I looked at John and said, you made less than your receptionist?! His response was Moe, I’m growing the company. I said totally wrong but explain your rational. He said, I don’t take high salary so I keep more money in the corporation and then I can use the money to grow ...

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Forgive Federal Pandemic Business CEBA Loans

As a business consultant, I have witnessed firsthand the struggles of my clients who have borrowed funds through the Canada Emergency Business Account (CEBA) to keep their businesses afloat amidst the economic turmoil caused by the pandemic. These are hardworking individuals who contribute significantly to our economy, yet they find themselves unable to repay these loans due to continued financial hardship. The CEBA was designed as a lifeline for small businesses during an unprecedented crisis. However, with over 800,000 approved applications and nearly $35 billion disbursed as of January 2021...

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Online Payroll Management: A Comprehensive Solution

Payroll handling can be hard for businesses in a number of ways. Some of the duties that come with payroll in Canada are handling employee turnover, time off requests, making sure that deductions and payments are made in line with the law, and running benefit plans. If you don't want to pay for an in-house payroll manager, you can outsource payroll services to take care of all the routine tasks involved in running payroll for your team. Payment processing can help your small or big business save time, money, and stress. You can be sure that the payment for your business is being done correctly...

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How to Communicate with the CRA: A Comprehensive Guide

Whether you're an individual taxpayer or a business owner, understanding how to communicate with the Canada Revenue Agency (CRA) effectively is crucial for managing your finances and ensuring compliance with tax laws. From seeking taxpayer relief to disputing assessments through an objection letter or filing specific forms like the T2062, the process requires a clear understanding and strategic approach. In this comprehensive guide, we'll cover: Engaging with the CRA: Understand the intricacies of effective communication.Submission Process: Learn how to submit documents online with ease.Drafti...

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Should you incorporate your business?

A few years ago Taylor started a little YouTube business start up as a side business and started to post her videos about astrology.  She also had a link from her YouTube channel where she was selling items that was related to the videos. Next thing that she knew, she started to get tons of people following her YouTube channel. This is an area that never gets old. People have been fascinated with fortune telling and cosmic interpretations. She also her social media channel and started to get lots of followers there as well. Her weekend and overnight business took off and she was making wa...

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We answer your "how to" questions about the HST.

In Canada, HST can be a complicated topic. Each of these processes—applying for a HST number, charging the appropriate amount, subtracting HST, remitting HST—has its own set of rules that can vary from province to province. You must become well-versed in the nuances of managing your HST number if you have recently launched a new company or are taking over the duties for charging and remitting HST. To assist you in navigating the system, the experts at Numetrica CPA have compiled the most frequently asked "how to" questions on HST. Learn all there is to know about handling your HST duties in Ca...

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Rate of Corporation Tax

When you are in charge of a business, tax time can be especially stressful. It is hard to figure out the corporate tax rate because rules can change every year and the corporate tax rate varies from province to province. This is true even for small businesses with few assets and low revenue. This post goes over the specifics of Canada's corporate tax rate and how the different rates can affect your business. Learn everything you need to know about federal rates, CPCC rates, historical rates, and rates for investments and capital gains. Note that you should always talk to a professional tax acc...

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About the T2 Schedule

It is not as simple as filling out a T2 form and submitting it to the Canada Revenue Agency (CRA) in order to complete the process of reporting your corporation's taxes. In addition to submitting the T2, you will also be required to submit certain "schedules" in order to satisfy the tax responsibilities that are associated with your corporation. The CRA requires you to utilize these T2 schedules so that they can receive supplemental information about the tax return and filings that your corporation has made. A corporation can be required to complete and submit any one of the dozens of differen...

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All the Information You Need to Understand Vacation Accrual

What exactly is meant by "Vacation Accrual"? The concept of vacation accrual, which is also known as leave accrual, refers to a system that enables workers to build up paid time off (PTO) in proportion to the amount of time they spend working for an employer. The system in place ensures that workers receive recognition and compensation for the time and effort they put into their jobs. What is the procedure for accumulating vacation days? The method by which an employee accumulates vacation time is often contingent upon a variety of circumstances, such as the company's policy, the employment re...

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Frequently Asked Questions - FAQs

Does Numetrica offer tax services for small businesses in Ottawa?

Absolutely! Numetrica is your expert small business accountant in Ottawa, dedicated to providing exceptional tax services tailored for the unique needs of small businesses. We are committed to delivering expert tax preparation, accurate filing, and insightful strategic planning. Our tax services are designed to efficiently minimize tax liabilities and enhance deductions, ensuring that your small business not only adheres to the latest tax regulations but also optimizes financial opportunities.

What makes Numetrica different from other accounting firms in Ottawa?

Numetrica stands out as a leader among accounting firms in Ottawa for our personalized approach & comprehensive expertise in accounting & bookkeeping services. We focus on building long-term relationships with our clients, offering customized solutions that evolve with your business.

What accounting services does Numetrica offer in Ottawa?

Numetrica provides a comprehensive range of bookkeeping and accounting services in Ottawa, including financial statement preparation, tax planning, payroll services, and business coaching.

Our Ottawa accounting firm specializes in both personal tax and corporate tax services, providing tailored solutions to meet the specific needs of your business or personal finances. Whether you're a growing business seeking robust corporate tax strategies or an individual in need of personalized tax guidance, Numetrica is equipped to deliver excellence.

How can Numetrica's bookkeeping services benefit my business in Ottawa?

Our bookkeeping services in Ottawa offer meticulous record-keeping and financial analysis, helping you make informed decisions, maintain cash flow, and streamline your financial processes. We use the latest software and practices to ensure your finances are managed efficiently.

How much does bookkeeping cost in Ottawa?

The cost of bookkeeping services in Ottawa can vary widely depending on several factors such as the size of your business, the volume of transactions, the complexity of your financial needs, and the level of expertise required.

Contact us detailed quote based on your specific business needs. Remember, investing in professional bookkeeping can save you time and money in the long run by ensuring accurate financial records and compliance with tax laws.

Numetrica Accounting

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Reviews

Check what some of our clients are saying about our services.
  • Samantha Biron

    I highly recommend Moe Tabesh. His service is phenomenal, to say the least. His tax knowledge is extensive and he’s been able to save me a substantial amount of money by following his recommendations. In addition, he is warm, kind, understanding, positive, and flexible, which are qualities I find rare in most accountants I’ve worked with. You’re in good hands with Moe, I can’t recommend him enough.

    Samantha Biron

    President and Founder, Find Your Tribe
  • Jeremy Prudhomme

    Moe and everyone at Numetrica have been incredible at helping with my new corporation and corporate and personal tax returns and my other small business. Their accounting skills are out of this world and the technology they use makes everything so simple and fast. The time you will save will be worth every penny. Thanks again Moe for all your help!

    Jeremy Prudhomme

    CEO, Jeeman TV
  • Farshid Dehnavi

    Mr Tabesh (Captain Number Cruncher) and his perfect team are not only professional in their fields, they are extremely passionate about their clients! Numetrica City continues to support us with corporate and personal tax returns, bookkeeping (thank you so much Sherry ) and We are so happy and appreciative for you and your responsible team, Moe!!!
    I really recommend these guys to everybody.

    Farshid Dehnavi

    President and CEO, Ink Plus
  • Keddy Declan

    I did my first Corporate tax return and cloud accounting with Numetrica City and I am very satisfied with the work they did. The team was very responsive and answered all my questions. I 1000% recommend their services.

    Keddy Declan

    CEO , IT Referrals
  • Sibeso Kehinde

    I would highly recommend Numetrica City-Accountants, Tax and Bookkeepers. Exceptional customer service. I am assured that all my company tax services and payroll are taken care of because of the great team that Moe has. I like the fact that I do not have to worry about driving to a physical location for my accounting services, my company's accounting tax preparations are done online due to the excellent cloud service Numetrica City has. Definitely score a10/10. Thank you for all the good work that you guys do. Greatly appreciated!

    Sibeso Kehinde

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    Trust in the superhero accountants of Numetrica to keep your numbers in order and for expert advice on growing your business. Numetrica specializes in providing clients with in-depth accounting and bookkeeping services in Canada and the United States as well as financial advice to assist you in making the right decisions for your business.