Hi ladies!

This year, we decided to change accountants due to travel distance. This is my second year running daycare, and the first year was for only a couple of months. However, I am noticing some BIG differences with what I was told vs what was told today between accountants. I was just wondering if you more experienced ladies could chime in so I have a solid comparison. For the record, I am in Ontario.

1) The first year, we did not need to pay into CPP or EI. This year, we were told that paying into CPP is not an option. In fact, I must pay twice, one for being the employee and once for once for being the employer.

2) The first year, I was told that told that expenses would carry over, since I paid more to open up then I made that year. This year, I was told that there is no carry over claimable and what is lost is lost.

3) How much do you pay your accountant approx? Not for book keeping, just straight imputing numbers.

4) Approx. on an gross income of $20,000 - $25,000 how much should we be prepared to pay out?

Thank you ladies in advance!