Category Archives: Accounting

The Ontario Healthy Homes Renovation Tax Credit

Are you 65 or older? Do you have someone living in your home that is a senior family member? You could be eligible for the Healthy Homes Renovation Tax Credit! You can claim up to $10,000 towards renovations to improve the safety and accessibility of your home and receive up to a 15% return. That’s

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12 Things That Could Trigger Income Tax Audit

Article found on http://www.canadian-money-advisor.ca/threadview/4314.html Although you won’t find a list of audit “triggers” on the CRA website, here are 12 things that may put you into one of the groups they look at for audits: 1. You’ve cheated on a return in the past This one’s a no-brainer: if you’ve ever been caught cheating they’re

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Donations help people to lower their taxes?

I was asked many times: if I help a church or a registered charity with volunteer work can I get some benefit from this? A contribution of service, that is, of time, skills or efforts does not qualify as a gift or gift in kind for purposes of issuing official donation receipts. If you made

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Non-for-profit (NPO) organisations has to file tax return or not?

Do non-for-profit (NPO) organizations have to file tax returns? What are the consequences? I was asked this question by people who represent churches or different associations to which I will refer them in this article as NPOs. See bellow what Canada Revenue Agency is saying about the obligation of filing the tax returns for NPOs.

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Read Financial Statements Like a Pro

When: 25 Apr 2013, 6:00pm-7:30 pm Numbers tell a story and you want to know how to read those numbers. In this seminar you will learn accounting terms e.g., revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. Learn the basic accounting concept and find out what debits and credits mean

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