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Masonry Blog
Accounting Policies and Procedures
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February is T4 Month
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What Can I Deduct as a Business Expense?
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Why Incorporate Your Business
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Accounting for Tax Time
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Three Most Common Budgeting Errors
When it comes to creating a budget, it’s essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses and some tips for avoiding them. Not Setting Goals. It’s almost impossible to … Read More
Five Ways to Improve Your Financial Situation
If you are having trouble paying your debts, it is important to take action sooner rather than later. Doing nothing leads to much larger problems in the future, whether it’s a bad credit record or bankruptcy resulting in the loss … Read More
Hobby or Business? Why It Matters
Millions of Americans have hobbies such as sewing, woodworking, fishing, gardening, stamp and coin collecting, but when that hobby starts to turn a profit, it might just be considered a business by the IRS. Definition of a Hobby vs a … Read More
How Long to Keep Personal Income Tax Records
You must keep your records as long as they may be needed for the administration of any provision of the Internal Revenue Code. Generally, this means you must keep records that support items shown on your return until the period … Read More