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Feb
17
Here is a checklist for you to use to figure out what documents you need to send to complete your 2022 T1 tax return. Note that if you have already authorised Insight Analysis to represent you, we will have access to many of the… Continue reading
Dec
4
Your company has started to grow – fast! This is a result of hard work over long hours and long weeks. New staff have been hired to manage the work from the new opportunities. You find you may need more space, and you definitely… Continue reading
Jan
29
Communication is a fundamental need when moving to a cloud-based bookkeeping system. The advantages provided through such programs as Receipt Bank, Quickbooks Online, Telpay, and other such programs can be lost so easily simply by a failure to communicate. The ability for two parties… Continue reading
Mar
8
The process of assessing your income tax return by CRA needs a little explanation. Insight is required to file returns electronically due to the number we prepare. When your return is filed electronically, only a summary is sent to CRA and none of the… Continue reading
Nov
30
Recently a customer had their credit card hacked when trying to book a reservation at an Air-B&B. Their credit card was subsequently used for a few transactions that they had no knowledge of, and thankfully their bank noted these odd transactions and suspended the… Continue reading
Jun
22
It is an exciting time for people as they starting out in a new business venture. Business plans, marketing strategy, developing your storefront or fitting out the new office area, presenting your products and services to attract the customers that will make your business a success. Plan early for a system for keeping the books and records which you will need to produce the financial reports that support your business decision-making and show your shareholders and bankers that the path you have chosen is the right one. Set out to form a strong support webbing for the company on which a sound and well-managed company will grow.Read More
Feb
20
... is a topic that always requires discussion. A corporation is really an individual entity that is to operate independently of its shareholders and officers, and a sole proprietorship is best treated the same way.
Often a business owner will incur expenses that are related to the business by using personal cash, a personal bank account, or a personal credit card. Read More
Feb
7
…on your tax preparation? Have a look at the report on a study by Johns Hopkins University that may make you think twice about using one of the chain-store tax preparation companies mentioned in the article. While this study was done in the United… Continue reading
Feb
6
Registered Retirement Savings Plan's (RRSP) are still a great way to invest if you are earning higher income now than you will after your retirement. RRSPs are part of your long-term planning for your life after work, and are of limited value in the short term unless your are anticipating a large change in your income level sooner rather than later. Read More
Feb
4
Canadian resident individuals who held certain property outside Canada with a total cost of more than $100,000 CAD at any time during the tax year are subject to certain disclosure requirements to the Canada Revenue Agency (CRA). Non-compliance with this reporting requirement results in severe penalties. To determine whether you are subject to the reporting rule, please read and consider each of the following points carefully.Read More