Understanding Not-for-Profit Organizations and Charities in Canada0

Posted On May 16, 2024, by Jennifer L Nixon

Non-profit organizations play a vital role in the fabric of Canadian society, serving diverse purposes and addressing various community needs. In navigating the sector, it is important to consider the distinctions between Not-for-Profit Organizations (NPOs) and charities. In this article, we aim to provide clarity on these differences and offer guidance on the pathway to […]

Could You Be Facing an RRSP Over-Contribution?0

Posted On May 2, 2024, by Angela Delaney

What Happens When You Over-Contribute? Individuals aged 18 and above are allowed a $2,000 lifetime over-contribution allowance to their RRSPs. This provision by CRA serves to reduce penalties for minor, unintentional surpasses. In reality, utilizing this allowance leads to contributions that cannot be deducted in the current tax year, but are potentially eligible for deductions […]

Received Your Notice of Assessment? Now What?0

Posted On April 25, 2024, by Angela Delaney

Introduction Understanding your Notice of Assessment (NOA) from the Canada Revenue Agency (CRA) is crucial for managing your finances effectively. One key aspect of the NOA is your RRSP deduction limit, which plays a significant role in your retirement savings strategy. In this article, we will walk you through how to find and make sense […]

Executor Responsibilities in Canadian Estate Management0

Posted On April 11, 2024, by Tracey Bastedo

Introduction What are the responsibilities of an Executor of a will in Canada? Executors play a pivotal role in ensuring the fulfillment of the deceased’s wishes and the proper distribution of assets. In this article, we will delve into the various responsibilities of an executor, outlining key tasks and considerations. Understanding the Role of an […]

Sole Proprietorship vs Incorporation: Choosing the Right Business Structure for Your Canadian Venture0

Posted On April 4, 2024, by Trevor Buttle

When venturing into entrepreneurship in Canada, one of the critical decisions entrepreneurs face is selecting the appropriate business structure. The choice between sole proprietorship and incorporation significantly impacts various aspects of the business, including taxation, liability, and administrative requirements. This article aims to provide a Canadian comparison of sole proprietorship and incorporation, equipping entrepreneurs with […]

Understanding Financial Statement Services0

Posted On March 28, 2024, by Trevor Buttle

Ever find yourself asking these questions?: “Curious about how Compilation Financial Statements can enhance professionalism in your interactions with lenders, creditors, or potential investors?” “My bank is asking for a review engagement. What does that mean?” “I’m being asked to provide an Audit of our financial statements. What exactly does this entail, and how can […]

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