pro-taxes

How to Submit a Taxpayer-Signed T183 and Keep a Scanned Version

Discover some requirements to use the Canada Revenue Agency's tax preparation software EFILE. This includes how your client can complete a Form T183, what information the form collects, and what is acceptable under document retention rules regarding paper copies of returns versus electronic records.

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pro-accounting

What Are Unappropriated Retained Earnings?

Uncover what unappropriated retained earnings are and how to find them on the balance sheet. Learn what the balance consists of, what sort of restrictions your clients face when figuring out how to spend this money, and what sort of decisions this general ledger account can help your client make.

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pro-accounting

Accounting Term: What Is a Statement of Activities?

Learn what the statement of activities is and why your clients must have one prepared. Discover what sorts of activities are included and what timeframe is covered. Also, you'll find out who uses the statement of activities and what external parties often require the statement to be prepared.

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pro-accounting

Accounting Term: What Is a Rolling Budget?

Discover the benefits of helping your client set up a rolling budget. Learn the process of adding onto the original plans and why this is more advantageous than traditional budgeting methods. Find out the benefits, such as alleviating your client of stress, being more flexible, and holding greater accountability.

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pro-accounting

Accounting Term: What Is Simple Linear Regression Analysis?

Learn about how simple linear regression can help you advise better business decisions. This includes discovering how to perform the regression analysis, what each variable in the equation means, and how to use it when analyzing your client's revenue, expenses, and other business performance.

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pro-accounting

Accounting Term: What Is SG&A?

Learn what specific types of expenses make up selling, general, and administrative costs. Discover how they're reported on the income statement, how reporting them incorrectly can lead to incorrect business decisions, and how SG&A expenses can be reduced as your client's business grows and merges with others.

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pro-accounting

Cost Distortions in SG&A and How to Avoid and Correct Them

Learn how to overcome common pitfalls of allocating SG&A costs. Even though these costs can't be directly traced to the products your client makes, there are ways to change the percentage-of-sales or cost-of-sales allocation methods so the information used for pricing or business expansion is more accurate.

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pro-taxes

How to Save Money With the Yukon Children’s Arts Credit

Learn how to secure the Yukon Children's Arts Credit for your client. If your client meets the residency requirement, has a child under a certain age requirement, and paid for a prescribed artistic or development program that follows certain criteria, they may be entitled to a tax credit worth up to $500.

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