FP: Efforts pay off in tax savings
From the Financial Post
The primary focus of young entrepreneurs launching a business tends to be accorded to marketing and sales. Unfortunately, the mundane tasks of accounting and tracking financials to ascertain the business’s viability and ensure an accurate tax filing often goes by the wayside.
Accounting professionals witness countless businesses that are otherwise viable, fail due to poor financial record-keeping. They say it is critical young entrepreneurs maintain good accounting to optimize both a favourable tax return, as well as to ensure day-to-day operations of a fledgling business are able to persevere.
