IFMSolutions

IFMSolutions If you have health problems you may qualify for tax refunds, tax credits, grants, bonds or payments from more than one source like CRA and CPP.

We can help you with the process to get your due share.

Fall isn’t just about and patches, it’s also the sweet spot for smart financial planning. Here’s your checklis...
10/15/2025

Fall isn’t just about and patches, it’s also the sweet spot for smart financial planning. Here’s your checklist:

✅ Review income & expenses – October is 3/4 of the way through the year, which makes it the perfect time to compare your actual spending vs. your budget.

✅ Check RRSP contributions – Remember you have until February 29, 2026 to contribute for the 2025 tax year. But spreading contributions throughout the year can reduce your tax burden and maximize growth.

✅ Prep for year-end deductions – expenses, , or costs may add up to bigger credits. Collecting receipts now saves you scrambling in April.

✅ Plan for spending – Canadians spend an average of $1,300+ during the . Setting aside funds in October makes January credit card bills far less .

Hiring staff this fall or heading into the ? Don’t forget prep.Here are 3 key things owners should know:✅ Emplo...
10/09/2025

Hiring staff this fall or heading into the ? Don’t forget prep.

Here are 3 key things owners should know:

✅ Employee or contractor? Seasonal workers still need proper classification. Misclassifying someone as a contractor when they’re really an employee can cause headaches with CRA.

✅ Even short-term employees require CPP, EI, and income tax deductions from every paycheque. Seasonal = temporary, but the payroll rules are the same.

✅ Keep good records no matter how long they worked. Tracking hours and wages now saves stress later.

Running a is tough enough without spending your buried in receipts and spreadsheets.We have been working with fo...
09/30/2025

Running a is tough enough without spending your buried in receipts and spreadsheets.

We have been working with for over 2 decades. Our bookkeeping services are designed for Canadian small businesses, guaranteeing:

✔️ Accurate, up-to-date records
✔️ Clarity on cash flow
✔️ Fewer surprises at tax time

When you know your numbers, you can grow your with confidence.

Payroll can be one of those things you don’t notice….until something goes wrong. One missed deadline or miscalculation c...
09/26/2025

Payroll can be one of those things you don’t notice….until something goes wrong. One missed deadline or miscalculation can cause CRA penalties, frustrated employees, and hours lost trying to fix mistakes.

Our payroll services are designed for , whether you have 1 employee or 100 employees. It’s not just about cutting cheques. It’s directly tied to tax benefits, credits, and compliance. When you outsource your payroll to us, it’s not just about convenience, it’s about making sure you don’t leave money on the table.

If you feel like you’re falling behind on filing your , you’re not alone. Hundreds of and are still catching up on ...
09/18/2025

If you feel like you’re falling behind on filing your , you’re not alone. Hundreds of and are still catching up on past returns.

As a , don’t let the pile on (and more penalties add up). Let our ease your burden and get your taxes on track.



Together, let’s get caught up with overdue returns and move forward with of mind.

Most people assume once they’ve filed their taxes, that’s it - done. But here’s the truth: the lets you go back up to ...
09/10/2025

Most people assume once they’ve filed their taxes, that’s it - done. But here’s the truth: the lets you go back up to 10 years to make adjustments.

That means if something was missed like a credit, a deduction, or even a CRA error, you could still get that money back.

After reviewing prior returns, we’ve discovered:

➡️ who forgot to claim expenses
➡️ who missed tuition credits
➡️ who didn’t realize they could claim medical or disability expenses
➡️ who overlooked deductions

Sometimes it adds up to a few hundred dollars. Sometimes, it’s thousands. Either way, it’s you deserve.

When was the last time you reviewed your books with a professional? At IFMS, our bookkeeping service is designed to take...
08/29/2025

When was the last time you reviewed your books with a professional? At IFMS, our bookkeeping service is designed to take the stress out of managing your business finances. We offer tailored solutions for Canadian businesses—whether you’re a startup, established company, or somewhere in between.

Our comprehensive service covers transaction entries, bank reconciliations, accounts payable/receivable, and regular financial reporting. We don’t believe in a one-size-fits-all approach; instead, we get to know your business so you only pay for exactly what you need.

Transparent, accurate, and timely bookkeeping is the foundation of smart business decisions. Ready to free up your time and gain peace of mind? Let’s chat about how we can support your success. Book your free consult today

Here’s a simple bookkeeping tip that Canadian small business owners can implement right away: Keep your business and per...
08/26/2025

Here’s a simple bookkeeping tip that Canadian small business owners can implement right away: Keep your business and personal completely separate. This not only simplifies your record-keeping but also ensures you’re audit-ready and maximizing all possible deductions.

Opening a dedicated business account and using business makes it much easier to track spending, categorize transactions, and prepare accurate reports for the CRA. Plus, you’ll spend less time sorting through receipts and more time focusing on growing your business.

Have you set up separate accounts for your business? Share your experience or any questions about expense tracking below. If you need help setting up your bookkeeping system, our experts are here for you— book an appointment online.

Did you know that Canada Revenue Agency accepts digital copies of receipts as valid proof for business ? If you’re stil...
08/18/2025

Did you know that Canada Revenue Agency accepts digital copies of receipts as valid proof for business ? If you’re still storing boxes of paper , it might be time for a change. Modern bookkeeping tools make it easier than ever to snap, store, and organize receipts right from your phone.

Switching to digital not only saves space but also means no more scrambling at tax time. Our team can help you choose and implement bookkeeping software that fits your business needs, so your financial records are always audit-ready and accessible.

Are you still managing paper receipts, or have you gone digital? Share your method below, and reach out if you’d like a tech upgrade for your bookkeeping process.

is one of those topics that often sparks a lot of questions from small and medium business owners. We hear from many ...
08/12/2025

is one of those topics that often sparks a lot of questions from small and medium business owners. We hear from many who are unsure about what exactly bookkeeping involves, how often it needs to be done, and what records to keep for the CRA.

Let’s clear up some common FAQs: What’s the difference between and accounting? Do I need to keep paper receipts, or are digital copies enough? How often should I reconcile my accounts? What are the risks of falling behind on bookkeeping? If you’ve ever wondered about these, you’re not alone—and you’re definitely not the only one looking for ways to make this process easier.

Our team specializes in helping business owners get clarity on their financials while staying compliant with Canadian regulations. We’re happy to answer your questions and provide practical solutions tailored to your industry. What bookkeeping question have you always wanted answered? Drop it in the comments or visit our website to chat with our 24/7 helpline.

We’re halfway through the year, how’s your budget holding up? Take 5 minutes this and compare your actual spending to ...
07/31/2025

We’re halfway through the year, how’s your budget holding up? Take 5 minutes this and compare your actual spending to the you set back in January.

If you're or running a , take a look at your income and expenses so far. Are you setting aside enough for taxes? Are your quarterly instalments still accurate based on how the year is going?
This is also a great time to check your cash flow and savings. Do you have enough set aside for emergencies or slower months ahead?

Small mid-year adjustments now can save you (and ) later.

Want to pay less next year? Let’s start now. The smartest strategies don’t happen in later in the year, they start e...
07/25/2025

Want to pay less next year? Let’s start now. The smartest strategies don’t happen in later in the year, they start early. Here are 3 easy things you can start doing today to make next tax season less stressful (and less expensive):
✅ Are you paying yourself in the most tax-efficient way? A mid-year review lets you adjust now before it's too late to optimize.

✅ Planning to renew , , or contracts? Prepaying before your fiscal year-end can reduce taxable income this year. We help make sure the timing makes sense for your cash flow and cycle.

✅ Did you forget to claim use, business use of a vehicle, or capital purchases last year? Reviewing YTD expenses now gives you time to course-correct, maximize deductions, and avoid missing claimable write-offs.

Address

207/3850 Finch Avenue East
Scarborough, ON
M1T3T6

Opening Hours

Monday 10am - 6:30pm
Tuesday 10am - 6:30pm
Wednesday 10am - 6:30pm
Thursday 10am - 6:30pm
Friday 10am - 6:30pm
Saturday 2pm - 6:30pm
Sunday 2pm - 6:30pm

Telephone

+18557864786

Website

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