Not Another Brown Envelope

The CRA sends little brown envelope requesting items, but in very unclear language. These little mini-audits are called Process Reviews and can occur for various reasons. They happen more often than you think and are getting more frequent every year. We deal with them every day and it’s part of our job to take care of them with as little bother to our clients as possible. This blog talks about what those envelopes may contain, how to avoid audits altogether, and how this all should really be your accountants job anyways.

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What's Your Business Really Worth?

Ever wondered if there was a science to valuing a business? There is. Well, part art - part science. We discuss the four generally accepted valuation techniques: historical earnings (aka capitalized cash flow), discounted cash flow, net asset value and market value. We briefly explain which types of businesses should be valued using each technique. Our Chartered Business Valuator/Chartered Accountant is available if you want to dive deeper into the subject.

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How To Be A Smart Sponsor

Sponsoring community sports teams or charity events like golf tournaments is a great way to support local organizations and can even be good for business! We explain how small business sponsorship of events and teams can save you tax dollars. Ask our Chartered Professional Accountants if you still have questions.

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The Art of Good Business Credit

The opportunity cost of having bad business credit, avoiding the personal guarantee, improving cash flow and lower interest rates; these are just a few of the benefits to building good business credit. In our latest blog, we give you 5 easy actions you can take right now to starting building credit in your corporation. If you need any advice or have questions about these benefits or tips, don't hesitate to ask us. Our CPAs are willing and ready to help!

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Debt: Are You In Too Deep?

It's an awful, crippling feeling to be facing an insurmountable mountain of debt. As tax rates increase, and our economy continues to struggle, many Albertans are helplessly watching their debt levels grow with each passing month. We want you to know that you’re not alone, and there are resources available to assist you.

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Reflections on Tax Season

Still wondering why you owed so much tax this year? You’re not alone. In fact, many people found themselves owing taxes when they were expecting a refund. We explain the most common causes: maternity leave (or EI), Rental Property Income and Payroll Department’s just not withholding enough tax.

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Write-offs for the fun-loving business owner

As a business owner, knowing what you can write-off can save you money and limit the risk of an audit. Get informed and be confident in your spending. Here are some write offs that'll reduce your taxable income, put a big smile on your face, and keep your wallet full. Including technology and gadgets, meals, booze, events, donations, sponsorships, parties, AGM's, travel and conferences.

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