calgaryprofessionalaccountant.com RSS Feed https://calgaryprofessionalaccountant.com/ Take a look at our recent blog posts and client newsletter articles. en-us Thu, 07 Oct 2021 09:00:00 -0500 Thu, 07 Oct 2021 09:00:00 -0500 Non-Tax Estate Planning Considerations https://www.calgaryprofessionalaccountant.com/blog.php?id=31 Thu, 07 Oct 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=31 Use These Strategies To Pass on Wealth to Heirs https://www.calgaryprofessionalaccountant.com/newsletter.php#4 Low interest rates and a volatile stock market create additional opportunities for wealthy individuals to transfer money to heirs tax-free. Fri, 01 Oct 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#4 Small Business: Tips for Ensuring Financial Success https://www.calgaryprofessionalaccountant.com/newsletter.php#2 Learn how cost accounting helps you make smarter business decisions and lead you to financial success. Fri, 01 Oct 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#2 Marginal vs. Effective Tax Rates https://www.calgaryprofessionalaccountant.com/newsletter.php#1 Understanding marginal and effective tax rates is important for tax planning purposes, but many taxpayers don't fully understand the difference. Fri, 01 Oct 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#1 If You Receive an IRS Letter or Notice https://www.calgaryprofessionalaccountant.com/newsletter.php#5 The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be dealt with without calling or visiting an IRS office. Fri, 01 Oct 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#5 Defer Capital Gains Using Like-Kind Exchanges https://www.calgaryprofessionalaccountant.com/newsletter.php#3 If real estate's your game, did you know that it's possible to defer capital gains by taking advantage of a Section 1031 exchange that allows you to swap investment property on a tax-deferred basis? Fri, 01 Oct 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#3 What Are the Most Important Elements of a Solid Business Plan? https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1263

Planning is essential before you start any business. It gives you a blueprint for where the company should be in the coming years and the strategy to reach that level. What’s incredible about planning is that it will also illuminate all the potential issues you are bound to encounter. While several successful businesses are launched […]

The post What Are the Most Important Elements of a Solid Business Plan? first appeared on www.financialhotspot.com.
Wed, 29 Sep 2021 00:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1263
4 Ways to Minimize Your Taxes https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1257

Taxes are inevitable! Like most taxpayers, you are probably wondering how you can minimize the amount you owe. Your income is taxed at the local, state, and federal levels, not forgetting additional deductions to cover Medicare and Social Security. While tax situations differ for every individual, there are specific steps that most taxpayers can take […]

The post 4 Ways to Minimize Your Taxes first appeared on www.financialhotspot.com.
Wed, 22 Sep 2021 00:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1257
5 Facts You Should Know About Compound Interest https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1251

If an investment or loan accrues compound interest, its interest is calculated using the sum of its initial principal plus any previously accumulated interest. You can think of this concept t as “interest on interest” that will make your money grow faster than simple interest. Suppose you deposited $100 one year ago in an account […]

The post 5 Facts You Should Know About Compound Interest first appeared on www.financialhotspot.com.
Wed, 15 Sep 2021 00:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1251
Why Virtual Accounting Is on the Rise https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1244

Accounting has been an essential part of every business since time immemorial. Both profit-making and non-profit organizations require accounts management to keep their finances in check. In simpler terms, accounting tracks money that flows in and out of your business and monitors its assets. An accounting expert deals with financial duties like bookkeeping, taxes, investment […]

The post Why Virtual Accounting Is on the Rise first appeared on www.financialhotspot.com.
Wed, 08 Sep 2021 00:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#feed_1244
Registered Charities - How to Avoid Losing Charitable Status https://www.calgaryprofessionalaccountant.com/blog.php?id=30 Thu, 02 Sep 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=30 What Is a Designated Roth Account? https://www.calgaryprofessionalaccountant.com/newsletter.php#2 If you are a high-income earner who participates in a 401(k), 403(b), or governmental 457(b) retirement plan that has a designated Roth account, making contributions to that account could be a smart move. Wed, 01 Sep 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#2 Verifying Your Identity When Calling the IRS https://www.calgaryprofessionalaccountant.com/newsletter.php#4 If you need to contact the IRS, you will be asked to verify your identity. Here's what you need to know before you call. Wed, 01 Sep 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#4 Tax Rules for Divorce and Alimony Payments https://www.calgaryprofessionalaccountant.com/newsletter.php#5 Tax rules regarding divorce and separation can and do change - as they recently did under tax reform - and the last thing on anyone's mind during a divorce or separation is its effect on their tax situation. Wed, 01 Sep 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#5 Tax Relief for Those Affected by Natural Disasters https://www.calgaryprofessionalaccountant.com/newsletter.php#1 Tax relief may be available if you've been affected by a natural disaster this year, but only if you meet certain conditions. Wed, 01 Sep 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#1 Six Things To Know Before You Start a Business https://www.calgaryprofessionalaccountant.com/newsletter.php#3 Starting your own business is an exciting prospect, but there is more to it than simply writing a business plan. Wed, 01 Sep 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/newsletter.php#3 Are All Health Care Services GST Exempt? https://www.calgaryprofessionalaccountant.com/blog.php?id=29 Wed, 04 Aug 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=29 Cloud Accounting for Your Business https://www.calgaryprofessionalaccountant.com/blog.php?id=28 Thu, 22 Jul 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=28 Specified Partnership Income https://www.calgaryprofessionalaccountant.com/blog.php?id=27 Mon, 28 Jun 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=27 Understanding Real Estate Sales - Capital Gain or Income https://www.calgaryprofessionalaccountant.com/blog.php?id=26 Thu, 13 May 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=26 Auto Repairs Accounting https://www.calgaryprofessionalaccountant.com/blog.php?id=24 Mon, 12 Apr 2021 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=24 Accounting for Medical Clinics https://www.calgaryprofessionalaccountant.com/blog.php?id=23 Thu, 04 Mar 2021 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=23 Law Society of Alberta's Start-Up Reporting https://www.calgaryprofessionalaccountant.com/blog.php?id=22 Mon, 08 Feb 2021 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=22 7 Tips for Being a Successful Business Owner https://www.calgaryprofessionalaccountant.com/blog.php?id=21 Mon, 11 Jan 2021 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=21 Should You Include a Trust in Your Will? https://www.calgaryprofessionalaccountant.com/blog.php?id=20 Wed, 06 Jan 2021 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=20 Basement Suite Rental Income Reporting https://www.calgaryprofessionalaccountant.com/blog.php?id=19 Mon, 04 Jan 2021 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=19 RECA Trust Audit - What You Need to Know https://www.calgaryprofessionalaccountant.com/blog.php?id=18 Tue, 15 Dec 2020 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=18 Reporting Online Day Trading Income https://www.calgaryprofessionalaccountant.com/blog.php?id=16 Mon, 02 Nov 2020 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=16 Rental Property for Non-residents - Withholding Tax https://www.calgaryprofessionalaccountant.com/blog.php?id=15 Thu, 08 Oct 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=15 Inactive Corporation: Steps to Dissolution https://www.calgaryprofessionalaccountant.com/blog.php?id=14 Mon, 14 Sep 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=14 Should I Pay Myself a Salary or Dividends from my Corporation https://www.calgaryprofessionalaccountant.com/blog.php?id=13 Tue, 04 Aug 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=13 What to Know About Proper Accounting and Taxes for a Rental Property https://www.calgaryprofessionalaccountant.com/blog.php?id=12 Mon, 06 Jul 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=12 What Non-residents Need to Know About Selling Real Property in Canada https://www.calgaryprofessionalaccountant.com/blog.php?id=11 Tue, 02 Jun 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=11 How to Prepare for Your Business Year End https://www.calgaryprofessionalaccountant.com/blog.php?id=10 Mon, 04 May 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=10 Buying a Business - Should You Buy the Assets or the Shares? https://www.calgaryprofessionalaccountant.com/blog.php?id=9 Thu, 09 Apr 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=9 Ways to Securely File Taxes with your CPA During a Pandemic https://www.calgaryprofessionalaccountant.com/blog.php?id=8 Mon, 30 Mar 2020 09:00:00 -0500 https://www.calgaryprofessionalaccountant.com/blog.php?id=8 Common CRA Pitfalls to Avoid as a Business Owner https://www.calgaryprofessionalaccountant.com/blog.php?id=7 Mon, 02 Mar 2020 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=7 Converting a Sole Proprietorship Business to a Corporation https://www.calgaryprofessionalaccountant.com/blog.php?id=6 Thu, 06 Feb 2020 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=6 How Alberta's Bill 2 Will Impact Your Business Payroll https://www.calgaryprofessionalaccountant.com/blog.php?id=5 Fri, 10 Jan 2020 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=5 What You Should Know About Income Splitting https://www.calgaryprofessionalaccountant.com/blog.php?id=4 Tue, 17 Dec 2019 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=4 Can I Write off Interest Expense on Money Borrowed to Purchase Investments? https://www.calgaryprofessionalaccountant.com/blog.php?id=3 The interest expense on money that is borrowed to purchase an investment is so often forgotten to be taken advantage of. Wed, 13 Nov 2019 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=3 Buy or Lease a Vehicle? https://www.calgaryprofessionalaccountant.com/blog.php?id=1 Learn the major difference between buying and leasing a vehicle. Wed, 13 Nov 2019 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=1 Buy a Vehicle in a Company or Personal Name, Tax Implications on Shareholder? https://www.calgaryprofessionalaccountant.com/blog.php?id=2 Buying a vehicle is a good thing as it enhances the smooth running of the business, but there are tax consequences to the shareholder if not properly managed. Wed, 13 Nov 2019 09:00:00 -0600 https://www.calgaryprofessionalaccountant.com/blog.php?id=2