True North Accounting Blog

Your vehicle and your corporation: What you need to know

matt@truenorthaccounting.com (Matt Peterson) — Fri, 16 Oct 2026 21:13:44 GMT

If you own a corporation, you’ve probably wondered whether your vehicle should be owned by your business or by you personally.

It may sound like a simple decision, but the answer depends on a few factors, including your vehicle's value, how much you drive, and how often you use it for business.

Simple cybersecurity tips to protect your small business

matt@truenorthaccounting.com (Matt Peterson) — Fri, 16 Oct 2026 21:00:41 GMT

Running a small business means managing many moving parts, from client relationships and payroll to invoices and day-to-day operations. Cybersecurity might not always be top of mind, but protecting your business information is an important part of keeping everything running smoothly.

Divorce as a business owner: How to prepare financially

matt@truenorthaccounting.com (Matt Peterson) — Mon, 14 Sep 2026 02:10:38 GMT

Divorce is complicated enough without adding a business to the mix.

If you own a business, divorce can affect more than your personal finances. You may need to figure out what your business is worth, how it fits into the division of assets and what happens to your income in the future. At the same time, you're adjusting to life on a single income and figuring out how to cover your expenses.

Small business bookkeeping: How to organize receipts and expenses

matt@truenorthaccounting.com (Matt Peterson) — Mon, 14 Sep 2026 01:57:42 GMT

As a small business owner, you’re juggling a lot. You’re building your business, keeping clients happy, managing employees and trying to stay on top of the numbers. Bookkeeping might not always be at the top of your list, but keeping your receipts, expenses and financial records organized can save you a lot of time and stress.

How to handle a CRA audit: A guide for small businesses

matt@truenorthaccounting.com (Matt Peterson) — Wed, 19 Aug 2026 01:34:37 GMT

Seeing a letter from the CRA in your mailbox can make any business owner nervous. But an audit or process review does not automatically mean you've done something wrong. Often, the CRA simply wants more information about a particular expense or account.

How we use AI at True North Accounting and what we want you to know

matt@truenorthaccounting.com (Matt Peterson) — Mon, 17 Aug 2026 17:25:01 GMT

By now, you’ve probably heard a lot about AI. You may be wondering whether we use it at True North Accounting, how we use it and what it means for your information.

The brown envelope: How to handle CRA process letters

matt@truenorthaccounting.com (Matt Peterson) — Tue, 21 Jul 2026 18:33:19 GMT

Seeing a brown envelope with the little black Canadian flag can be nerve-wracking. Sometimes, it’s good news, like a cheque! Other times, you open it to find a letter full of confusing text.

Accounting made simple: 11 financial terms every entrepreneur should know

matt@truenorthaccounting.com (Matt Peterson) — Fri, 17 Jul 2026 23:54:39 GMT

Accounting probably wasn't the reason you decided to become an entrepreneur — and that's okay. You don't need to memorize accounting textbooks or speak fluent CPA to run a successful business.

But understanding a few key accounting terms can go a long way. The more you know about your numbers, the easier it is to make informed decisions, spot potential issues early and have more productive conversations with your accountant.

Child care tax credits vs. deductions: What you need to know

matt@truenorthaccounting.com (Matt Peterson) — Fri, 17 Jul 2026 16:24:56 GMT

Kids are wonderful. They're also expensive.

Between daycare, before- and after-school care, summer camps and the occasional babysitter, child care costs can take a sizeable bite out of the family budget.

The good news? Some of those expenses can help lower your tax bill.

Here's where things get confusing. Many Canadians search for "child care tax credits," but what you actually claim is the Child Care Expense Deduction. It's a subtle difference — but one worth understanding if you want to keep more money in your pocket.

Independent contractor or employee: Which should you hire?

Aisosa Soriyan (Goodlawyer) — Fri, 12 Jun 2026 14:59:19 GMT

This is a guest post from Goodlawyer, a trusted partner of True North Accounting. Goodlawyer’s North Star is to get more people the legal help they need. Goodlawyer empowers clients and lawyers to work together in a way that’s better for everyone. By leveraging technology, they improve the experience for both clients and lawyers — all while respecting their unique relationship and protecting their data.