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While a Calgary CPA can represent you with the CRA, not all accountants qualify for this service Accounting Firms Calgary.A CRA audit can be a tedious and overwhelming process.If you find yourself going through one, your safest bet would be to have a professional that knows the ins and out of the process.Find out what your representative knows about it, how many cases they have handled and the circumstances and outcome of their cases.Click Here
If you are a resident of Accountant Calgary Saskatchewan, Manitoba, Ontario or New Brunswick, you may be eligible for the proposed Climate Action Incentive payment when you file your income tax and benefit return for 2018.A 10% supplement is available to residents of small and rural communities.The incentive will first reduce any balance owing for the year, then may create or increase any refund to which you may be entitled.View More
Many Canadian business owners complain about Accountant Calgary the amount of taxes they pay each year, which is understandable.After all, businesses get taxed tougher than most taxpayers.They may try to figure things out for themselves, but they either get minimal results, or they make matters worse.However, there is a solution that could help you pay fewer taxes and keep more of your money.Have you ever considered hiring a qualified accountant (CPA)?Many small businesses have benefited from their expertise, and so can yours.View More
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Guaranteed income supplement Accounting Services Calgary – The Guaranteed income supplement (GIS) provides a monthly non-taxable benefit to Old Age Security (OAS) pension recipients who have a low income and are living in Canada.If you live on a low-income and receive the GIS or allowance benefits under the OAS Program, you must file your return by April 30 to make sure your benefits are renewed.Learn More
If you have a balance owing and do not file your return on time, the CRA will charge you a late-filing penalty Accounting Services Calgary.The penalty is 5% of your balance owing on the due date of your return, plus 1% of your balance owing for each full month your return is late, to a maximum of 12 months.Even if you cannot pay your balance owing by the filing deadline, you can avoid the late-filing penalty by filing on time.Click Here
An accountant may refer you to a Bookkeeping Services Calgary to get your books straightened out, because that is what bookkeepers do.Accountants work closely with bookkeepers, usually subcontracting their services out to them from work that they have but do not want to do.Let's say in the above situation, you grin and bear the cost and go ahead with the accountant's estimate.CA's are typically not going to do all that work.They will most likely charge you $100 plus an hour and then simply call the bookkeeper they use to do the work for $35 an hour, putting that $65 an hour in their pocket as a "management fee".
Versatile accounting is a full-service accounting agency based in Bookkeeping Services Calgary, AB.In addition to small business bookkeeping services, we educate our clients about what we’re doing so they can make better financial decisions for their company.
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If you plan to sell any product or service, remember one thing: without market research, you’d only be gambling at best Accounting Firms Calgary.You need to know if there is a market for your product or service.Better yet, market research tells you and potential investors what buyers are hungry for in your marketplace.Read More
Did you know there are free certified software programs that you can use to do your taxes online?Last year, about 90% of Canadians filed their returns online Accounting Services Calgary.Some of these software programs will give you suggestions on which tax credits and deductions you can claim and which benefits and credits you can apply for, based on the information you enter.View More
As per Canada Revenue Service (CRA) guidelines Tax Accountant Calgary, Canadian corporations must file a T2, or corporate income tax return, every year, even if there is no tax payable.Corporate tax returns must be filed within six months from the end of a corporation’s fiscal year.View More
Financial Statements are a critical part of every business and our primary service is assisting our clients with the preparation of their year end Financial Statements.Understanding what is in these Financial Statements, or what we like to call the financial ‘story’ of your business, is critical to your success Accountant Calgary.We walk you through your Financial Statements explaining how items are correlated including identifying underlying characteristics that are driving your success or driving your failures.Get More Info Click Here
If you have a modest income and a simple tax situation Accounting Firms Calgary, a volunteer from the Community Volunteer Income Tax Program (CVITP) may be able to do your taxes for you, for free.Find a tax preparation clinic near you or learn more at canada.ca/taxes-help.You can also find a tax preparation clinic using the MyCRA mobile web app.View More
If you want to do your taxes yourself, the CRA has a step-by-step guide that makes doing your taxes easy Accounting Services.Make sure you claim tax credits and deductionsThere are tax credits and deductions you may be able to claim on your return, like the working income tax benefit.Not sure what tax credits and deductions you may be eligible for?Go to canada.ca/taxes-get-ready to learn about the new and existing tax measures that could help you save money.Click Here
You can choose to receive your tax correspondence online through My Account or the MyCRA and MyBenefits CRA mobile apps Accounting Services.To register, select “email notifications” or enter your email address on your tax return.When you register for the email notifications service, you will receive an email when your notice of assessment or reassessment, and other CRA correspondence, is available to view online.Go to email notifications to find out more.Get More Info Click Here...
One of the questions we get from time to time at Versatile Accounting in Calgary is how much does it cost to outsource accounting?The bottom line is that you can outsource your small business accounting in Calgary and it can pay for itself!With a good small business accountant or designated CPA, Calgary businesses can not only save money on payroll services and doing their taxes but also find the hidden costs that are robbing them of a better profit
Chartered Accountants Calgary typically undertake a minimum of seven years training and education before being allowed to call themselves one.They must also complete a minimum number of training and professional development hours each year to maintain their membership.They'll stay up to date with recent changes to tax legislation, the economy and general business environment.For More Information: https://versatileaccounting.ca/
With a good Small business accountants Calgary or designated CPA, Calgary businesses can not only save money on payroll services and doing their taxes but also find the hidden costs that are robbing them of a better profit.We specialize in careful and effective tax planning and for GST services we will walk you through the process so that you understand which transactions are refund-eligible from the Canada Revenue Agency.And, we prepare your returns and file them.
Higher Personal Income Tax:Though 100% tax-deductible, a salary income is taxed at a higher rate than a dividend income.If you want to see what impact it will have on your tax bill, Versatile Accounting firms Calgary can guide you in advance with some personal tax planning to save your taxes.Read more about:https://versatileaccounting.ca/salary-or-dividend-taking-money-out-of-your-business/
The Review Engagement or Limited Assurance is sometimes calling negative engagement.This type of engagement is different from a reasonable assurance engagement.Normally, this engagement, auditor perform fewer procedures and review to support a conclusion on the financial statements in terms of whether anything has come to the auditor attention to indicated that the financial statements are not prepared in accordance with the specific accounting standard.More Onhttps://versatileaccounting.ca/
If you run an Accounting For Non-profit Organizations, your accounting responsibilities are different than those of for-profit businesses.Nonprofit organizations handle tax payments, financial statements, and recordkeeping differently than other businesses.Learn about nonprofit accounting below.For More Visit Onhttps://versatileaccounting.ca/
The filing requirements are specific and ensuring returns are filed accurately and on time is critically important.Having a trained professional accountant Calgary assisting you with GST can help save headaches and allow you to focus on your business.Let Versatile Accounting tax professionals help you with GST filing.More Details Click Here
Do you want to have Alberta (or any other province) as your jurisdiction or is it better to have a federal jurisdiction?Versatile Accounting provides professional corporate tax services in Calgary to corporations large and small. We also provide bookkeeping services for corporations and well as other small business structures.The law will consider you and your business to be the same entity.Likewise, anyone who is hurt either while on the job in your workplace or there as a customer or visitor will be able to sue you personally for damages.This sort of “unlimited liability” is commonly seen as the most important “downside” to a sole proprietorship for a company that works with a large market, has lots of employees, and provides lots of services to the general public.If you do not expect any liability issues, want to deduct early financial losses from your personal income for tax purposes, and want to keep initial costs down, pick a sole proprietorship.Management can be “by committee” or one partner can be the manager.