People often don’t need a formal accounting system to keep track of their daily, weekly or monthly earnings, but sometimes they do.  For those whose income is stable or varies from month to month, tracking their income and expenses on a monthly basis can help to keep their budget in balance, reduce overspending, and keep the credit-card bills to a minimum.  Likewise it would make sense for a person with a very active stock portfolio to log their purchases and sales as they occur in order to avoid an overwhelming recordkeeping job at tax time.  However a salaried employee receiving a T4 slip at the end of the year can usually rely on the employer to keep such records although they are urged to keep a separate record for independent verification purposes.  Although personal recordkeeping isn’t always required, there are undeniable benefits in doing so.  We can help with any questions you might have relating to personal recordkeeping and finances.

Our consulting services can benefit individuals in so many countless ways.  Ask us how we can help with:

Tax planning and financial advice

Integration of tax planning between businesses and their individual owners

Personal budgeting

Consultation on purchase or sale of an existing business

Advice for the start-up of a new business

Cross-border services – international tax planning for individuals living in Canada

Cross-border services – Canadian tax planning for individuals living outside of Canada

Analysis of financing alternatives

For information on tax for individuals, please click here.