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As tax time approach, and since I have nothing btter to do on the bus ride home, let me take this opportunity to remind you the tax deadline, and don’t forget to get the most tax refund you can! Deadline for submitting you tax return to CRA are as follows: Deadline for Individual: April 30, [...]
Although I have posted this deadline last year, I would like to remind you on the day as the deadline for submitting T4 slips for your payroll is approaching very quickly. This also applies to all other slips that you need to give to your employees and shareholders, such as T3, T5, T4A, etc. Deadline [...]
Other than fiscal spending to stimulate the economy, spending on infrastructure and such, I am going to focus on the tax benefits introduced just yesterday in Jim Flaherty’s Budget 2009. It is important to note that, this budget has not been accepted by all parties, so all of the benefits stated below are “proposed”. We [...]
2009 has begun, and you are already seeing a lot of promotions from banks and other financial institutions on this thing called Tax-Free Savings Account – TSFA. If you have a banker or a financial advisor to handle your investment and retirement portfolio, you will probably receive calls from them once they come back from the [...]
I have posted an article about How to Pay Yourself about a year ago during peak business fiscal year end, and this year I have been having getting feedbackand questions on how to reimburse yourself. If you search the web or asked a few accountants, you will probably get the idea that the easiest way [...]
Quickbook claims that you do not need to close the book, it will automatically close it for you. It is only partially true. A lot of my clients were shocked when they see their Retained Earnings and their Dividend Paid or Owner’s Draw account from their balance sheet to be double or triple the actual amount they paid [...]
ERP stands for Enterprise Resource Planning system. It has many definitions but in short, it is a unified system that attempts to integrate most (if not all) data sources and processes in the organization into one system, so that it is possible and easier to manage the organization in one piece, areas integrated include but not limited to accounting, [...]
Simply put, it is a system that organizes and stores data in a way that can be efficiently retrieved in a format that helps make business decisions. I have heard one of the managing director from my client, say “If we use ReportNet, we cannot use Datawarehouse!”. He misunderstood what Datawarehouse really is. At that [...]
To file your personal income tax return, you can: Go to any postal office and pick up a Tax Package if you have not received one from your mail. Go to http://www.cra-arc.gc.ca/formspubs/t1general/menu-e.html, select your province and print out those forms that you need. File online. There are software or even online filing available for a [...]
This is pretty much the same as every year. But just in case you forgot, here it is! DEADLINE FOR FILING TAX: APRIL 30, 2008 Related Articles: Canadian Tax Tips 2007 – What can you claim? How to file your own tax File Tax Online – Netfile vs Efile Need Bookkeeping Services? We can help. [...]
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