Category: Small Business Accounting and Tax Preparation
Posted on December 12, 2021
The Alberta Corporate Income tax return is a document that must be submitted to the Government of Alberta if your corporation is registered in Alberta. The purpose of the form is to report and calculate your corporation’s income earned in Alberta and to calculate any income tax that has been withheld from that income. The Filing Process for the Alberta Corporate Tax Return The Alberta Corporate Tax Return is a form that must be completed and filed with the Canada Revenue Agency. It is mandatory for corporations operating in Alberta to file a tax return, even if they have no…
Posted on December 12, 2021
In this website, we will take you through the steps to file your Alberta corporate income tax return. The following is a list of the topics that we will cover: - What is a corporate income tax return? - How do you file an Alberta Corporate Income Tax Return online? - What are some of the common mistakes when filing an Alberta Corporate Income Tax Return? - What are some of the benefits of filing your Alberta Corporate Income Tax Return online? -What are some common errors in filing an Alberta Corporate Income Tax Return? Why is it Important to…
Posted on December 12, 2021
The Canadian Income Tax Act (CITA) requires all Canadian corporations to complete and file a T2 Corporation Income Tax Return. The Alberta Corporate Income Tax Return requirement is governed by the Alberta Corporate Tax Act. A corporation must file a return if it is carrying on an enterprise in Alberta for a period of time in a year. The minimum threshold for filing a return is 12 months or more. A corporation can file an annual corporate income tax return on paper or electronically, with the latter being the more popular choice amongst businesses. The Alberta Corporate Income Tax Return…
Posted on December 12, 2021
The CRA (Canada Revenue Agency) has released their Federal Tax Guide for 2018, and it's time to learn about all the changes. One of the most major changes is how much tax you'll owe on income from employment. This means that if you make $100,000, your income will be taxed at a higher rate. The first thing to know is that employers are responsible for withholding Canada Pension Plan contributions, Employment Insurance premiums and federal income tax from your paycheque. These amounts are taken out of each pay period throughout the year. If you have not paid enough into these…
Posted on December 12, 2021
Canadian tax returns are due to the CRA by April 30th, 2019. If you have not yet completed your 2018 tax return, you need to get started right away! Preparing your Canadian 2018 Tax Return for 2019 is a process that requires 4 steps: 1. Gathering Financial Records 2. Calculating Income and Deductions 2. Completing the T1 General form and provincial/territorial schedules (if applicable) and provide supporting documents (e.g. T4 slips, RRSP contributions). 3. Submitting the completed return to the CRA before April 30th, 2019 via NETFILE or by mailing it in if filing paper copies; and finally, filing an…
Posted on December 12, 2021
Farming is one of the most common pursuits of individuals interested in living off the land. It's also one of the most difficult, requiring long hours and lots of patience. But with some planning and hard work, it can be a rewarding experience. If you're considering starting a farm or agriculture business in Edmonton, there are many things to consider before you jump in. The first is what type of crops or animals you'll be raising, and how much space you'll need for them. If you're going to be using organic methods for your produce, this will need to be…
Posted on December 12, 2021
This article enlightens the reader on how to select the right farm & agriculture accounting services in Edmonton. The author highlights that these services are essential for all farms and agriculture companies, but not all of them know how to find the best accounting service in Edmonton. This article points that there are some key factors that need to be considered when selecting an appropriate accountant for your company's needs. The author claims that the biggest mistakes small business make when selecting an accountant is not asking for references, not getting multiple quotes and not having a thorough understanding of…
Posted on December 12, 2021
Bookkeeping is the process of recording the financial information that reflects a company's transactions or activities. It helps to keep track of where your money goes, how much you have spent and earned, and what needs to be paid. This comes in handy when you are filling out your taxes or trying to interpret the financial data for other purposes. The goals of bookkeeping are: - Helping to identify errors or potential problems, - Ensuring that all accounting records are accurate and up-to-date, - Providing accurate information for tax purposes. Some people think that bookkeeping is boring work but there…
Posted on December 12, 2021
Accounting in the digital age is a complex and evolving field. Make sure that you stay on top of evolving trends to maintain a competitive, sustainable, and profitable business. Bookkeeping in Edmonton: The Story of How It Became a Must-Have Edmonton has always been a city that prides its self on being progressive. So it shouldn't be surprising that it would be one of the first cities in North America to adopt the new way of bookkeeping. There are many reasons why small businesses should hire an Edmonton bookkeeper for their company. The first reason is that they will save…
Posted on December 12, 2021
Bookkeeping is the process of recording financial transactions, usually summarizing it in financial statements. Bookkeepers are responsible for ensuring that the business’s books are accurate and up-to-date. Bookkeeping is an important part of running a business. It ensures that all transactions are recorded accurately and up-to-date, so that the business has all the information it needs to make important decisions about its finances. Bookkeepers analyze past transactions to ensure no mistakes have been made and then record anything unusual or out of the ordinary, such as an error made by another employee. The process begins with bookkeeping software that helps…