by adminaccountantcpa | Oct 16, 2021 | Tax Deductions, Tips
1. Individuals Individuals who own rental property need to calculate the income or loss from the property for each calendar year. This is then adjusted with the other personal income for the year. If the property is co-owned, then each co-owner must individually...
by adminaccountantcpa | Nov 27, 2019 | Small Businesses
Here is a list of must-do accounting tasks for all business owners. Organize your accounting recordsReview bank reconciliationsGo over accounts receivable Go over your financial documentsThink About what you can write off Ask about additional...
by adminaccountantcpa | Nov 6, 2019 | Tax Information, Tips
Did you know that there are three possible beneficiaries to your estate? These are Your FamilyThe GovernmentA Charity When a death occurs, the default beneficiaries of the deceased are their family and the government. However many people prefer to leave their wealth...
by adminaccountantcpa | Oct 1, 2019 | Tax Deductions
Gifts-In-Kind are a non-monetary donation to a charity. These can also be tax deductible provided you keep a few things in mind. 1. The Most Important Condition Make sure that the charity of your choice is recognized by the Canada Revenue Agency (CRA) as a registered...
by adminaccountantcpa | Sep 17, 2019 | Small Businesses, Tax Information
Many small business owners use their personal belongings in their businesses. Doing this shows the banks and the CRA (Canada Revenue Agency) that you have a personal stake in the venture. Naturally, the CRA has put together some rules which you need to follow in order...
