In accountants we trust….
Friday, June 10th, 2011
We were called in last week to meet with a new potential client who realized that his internal accountant of many years had committed fraud. We were called in to help the client’s filing of fraud charges with the police, and to review the handling of the issues by the client’s bank. The internal accountant [...]
Recent US Tax Changes
Thursday, January 27th, 2011
The US tax laws enacted in the last couple of years contain important income tax and information reporting provisions that are effective for the first time in 2011. To inform you of what’s new in the tax rules, here’s a summary of the key tax changes for 2011, broken down into three categories: Personal Income [...]
2010 Federal Budget Commentary
Friday, March 5th, 2010
Budget Overview In the afterglow of the Vancouver Olympics, federal Finance Minister Jim Flaherty mounted a podium in the House of Commons on Thursday, March 4, to table his fifth Budget, the second of the current minority Conservative government and the second in succession to follow a period of prorogation of the House. The Minister [...]
Scientific Research & Experimental Development Audit Trends
Tuesday, March 2nd, 2010
Greg Rawn, CA, CBV The CRA recently changed its prescribed form as it relates to claiming investment tax credits from research and development (R&D) in Canada. The main form – T661, and supplemental schedules were updated to improve filing efficiency by taxpayers, and facilitate the future electronic filing of forms. The change coincided with increases [...]
2009 Home Renovation Tax Credit (HRTC)
Wednesday, February 24th, 2010
As an economic stimulus measure, the federal government introduced a one-time Home Renovation Tax Credit (HRTC). This non-refundable tax credit is based on eligible expenses for improvements made to an eligible dwelling such as your house, condominium, or cottage. This non-refundable tax credit is available for the 2009 tax year only. The HRTC applies to [...]
