NexGen Accounting Inc.

Got a full-time job and some freelance work? Wondering if you can write off your cell phone and Wi-Fi?

Here’s the deal for Canada:
📱 CELL PHONE: Yes, you can deduct a part of your cell phone bill if it’s used for your freelance work.
💻 WI-FI: Yes, you can also deduct part of your home Wi-Fi expenses if it’s used for business.

Keep your receipts and talk to a tax expert to get the best deductions. For more small business tips, visit our website and follow us! 💡📈
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Is your small business financially healthy? It is time for a financial check-up! 💼💰

Here's a quick guide to keep your finances in tip-top shape:
1️⃣ Review Cash Flow: Keep a close eye on where your money is coming from and where it is going. Understanding your cash flow helps you make better financial decisions and avoid cash crunches.
2️⃣ Monitor Expenses: Trim the fat from your expenses. Look for areas where you can cut costs without sacrificing quality or efficiency. Every penny saved adds up to better profitability!
3️⃣ Assess Profitability: Are you making enough money to sustain and grow your business? Analyze your profits to identify areas for improvement and opportunities for growth.

Regular financial check-ups are essential for the success of your business. Need help navigating your finances? We are here to assist you every step of the way! 💪🏻💡
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Dive into the world of tax savings with our simple guide! 💰

We break down the differences between deductions and tax credits, helping you keep more of your hard-earned money. If you are curious to learn more or have questions, reach out to us.

👉🏻 For a detailed explanation, visit our blog post: https://www.nexgenaccounting.ca/blog/demystifying-deductions-and-tax-credits-in-simple-terms
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Unlock the potential of your business with cloud accounting! Here's why you should consider it:

💰 SAVE MONEY: Leave financial tasks to us, saving you time and ensuring your data is secure.
⌛ SAVE TIME: Spend more quality time with loved ones and let us handle the paperwork.

Discover the benefits of cloud accounting in our latest blog post. Your business deserves the best!

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How AI Transforms Cloud-Based Accounting — NexGen Accounting Inc. Unlock the potential of QuickBooks® Online for small businesses: AI-powered automation, financial insights, and compliance in one cloud-based solution.

Our newest blog post is now live on our website, and it is a must-read for all you online sellers and entrepreneurs out there.

In this blog post, we delve into the significance of bookkeeping for online sellers and how utilizing the right accounting tools and software can drive growth and success on the online selling platforms. Discover why financial visibility, tax compliance, and profitability insights are crucial for your online business.

Ready to take your online selling game to the next level?

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eCommerce Success: Bookkeeping and Tools — NexGen Accounting Inc. Discover the crucial role of bookkeeping and advanced tools in achieving success on eCommerce platforms. Learn how cloud-based solutions like QuickBooks Online empower online sellers. Explore our Elite Partner services for personalized training and seamless integration.

Drumroll, please! We are excited to announce the launch of our newly redesigned website! 💻🚀

Our team has been hard at work to create an intuitive and user-friendly platform that provides you with easy access to the latest accounting and bookkeeping tools, resources, and expert advice.

From cloud-based software solutions to tailored financial strategies, our new website offers everything you need to help your business thrive in today's ever-changing marketplace.

We invite you to check out our new site and let us know what you think. Your feedback is valuable to us as we continue to grow and evolve to meet your needs.

Thank you for choosing NexGen as your trusted partner in business. We look forward to serving you with the same passion, dedication, and commitment that has always set us apart. 💙

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👀 Something big is coming!
We can't wait to unveil our brand-new website, designed to help you get the most out of your financial management. Stay tuned for more updates, and get ready to experience the next level of bookkeeping services. 💻🚀

As a small business owner, managing your finances can be challenging, but it's crucial to your success.

Here are five tips to help you improve your financial management:

✅ Tip #1: Keep track of all your expenses. Use an accounting software to categorize your expenses and stay on top of your cash flow.

✅ Tip #2: Separate your personal and business finances. Open a separate bank account for your business and use it for all your transactions.

✅ Tip #3: Set financial goals. Define your revenue targets and create a budget to track your progress.

✅ Tip #4: Stay organized. Keep all your receipts and invoices in one place and reconcile your bank statements regularly.

✅ Tip #5: Get professional help. Hire a bookkeeping firm to handle your finances and ensure compliance with tax laws.

At NexGen Accounting, we're here to support you in your financial management journey.

Contact us today to learn more about our bookkeeping services and how we can help your business thrive.

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We're thrilled to share some highlights from our recent company social event. It was a fantastic day filled with laughter, team-building, and much-needed socializing! Our team had a blast getting to know each other better and strengthening our bonds as a company.

It was a great reminder of the importance of taking time to connect with colleagues outside of work. We can't wait for the next one! 👏🏻

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Clients are encouraged to contact your advisor at NexGen Accounting before year-end or in the middle of the year if needed so that we can provide suggestions on specific situations.

FAQ: Income Tax Instalments — NEXGEN What are income tax instalments? Periodic income tax payments that need to be paid on specific dates.  These amounts cover the tax that would normally be paid in a lump sum in the following year. When do I need to pay my tax instalments (2021)? Individuals: March 15

Cloud Accounting – What Is it and Why it May Be Right for Your Business — NEXGEN What is Cloud Accounting? With cloud accounting, you can access your financial picture online in real-time. Your daily transactions can be efficiently taken care of and personalized by a professional accountant.  As your time is valuable, you’ll be able to receive more affordable and eff

Missing a Tax Slip? Here's How to Find It and What Happens If You Don't — NEXGEN We all know that we are supposed to keep them properly, but sometimes, when we walk into the tax season and suddenly find we miss one or two tax slips. Well, it happens. Don’t worry. Let’s tell you how to find it: Ask your employer or the issuer of the slip for a copy This could be the most st

Things You Need to Know for 2020 Personal Tax Return and COVID-19 — NEXGEN Home Office Expenses Deduction The Canada Revenue Agency (CRA) has introduced a temporary flat rate method to calculate your home office expenses. This applies to the year 2020, for employees who worked from home due to COVID-19 and paid home office expenses for which they were not reimbursed. If