As 2025 winds down, October is the perfect month for small business owners and self-employed professionals to get financially organized. A little preparation now can save you stress and money later.
1. Update Your Bookkeeping
Reconcile your accounts and ensure all income and expenses are accurately recorded. Having clean books makes tax filing faster and helps you identify potential deductions.
2. File GST/HST on Time
Quarterly filers need to submit their Q3 return by October 31, 2025. If you’re not sure whether you owe or are eligible for an input tax credit, we can help you review your records.
3. Plan for Tax Instalments
Many business owners make their next income tax instalment in December. By projecting your 2025 income now, you can avoid overpaying or facing surprise interest charges.
4. Strengthen Cash Flow
With the holidays approaching, some clients delay payments. Send friendly reminders for outstanding invoices and review your expenses to avoid year-end surprises.
5.Book Your Year-End Review
Schedule a meeting with our team to prepare your books for 2025 filings and find any last-minute tax-saving opportunities. At Muia Consulting, we are here to set your business up for success by allowing you to focus on what truly matters.
