finance-accounting

ASPE VS. IRFS Which Account Standard is Right for Your Small Business?

Learn about the Accounting Standards for Private Enterprises. Find out which Canadian companies can use these standards. Compare the ASPE to the International Financial Reporting Standards, and review situations where small- and medium-size businesses may want to use IFRS instead of ASPE.

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finance-accounting

How to Choose the Best Bank for Your Canadian Small Business

Get tips on how to choose a bank account for your business. Learn about free or low-cost options for low-volume businesses without a lot of monthly transactions. Compare banks to credit unions and read about why many small businesses owners prefer credit unions over traditional banks.

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pro-accounting

Strategies for Shielding Canadian-Owned U.S. Assets From U.S. Estate Tax

Review when Canadians may face the U.S. estate tax on their U.S. assets. Find out how to calculate a credit that helps your clients avoid this tax. Read about strategies that can help your clients shield their assets from the estate tax when the credit expires or the exemption threshold changes.

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pro-accounting

Profits Up in Smoke? Challenges in Applying IFRS to Canada’s New Cannabis Industry

Look at how the International Financial Reporting Standards affect the cannabis industry. Learn how the biological assets rule may make cannabis companies look more profitable than they really are, and review what investors need to do when making decisions about whether to buy cannabis-related stocks.

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pro-taxes

Accounting Tip: Defer Capital Gains With the Capital Gain Reserve

Learn how the capital gains reserve works. Look at an example to see how the reserve helps to reduce your client's tax liability in the year of the sale, and find out how to claim the reserve on your client's tax return. Compare the capital gains reserve to the capital gains lifetime exemption.

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pro-taxes

Understanding British Columbia’s Tax Benefits for Families With Children

Look at British Columbia's benefits for families with children. Review how these benefits can help your clients, and get tips on helping your clients apply for these programs. Learn about the low-income climate action tax credit, the early childhood tax benefit, and the reductions in child care fees effective in 2018.

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pro-taxes

Claiming Tax Credits in Nova Scotia to Reduce Poverty

Read about Nova Scotia's programs for low- and modest-income taxpayers. Learn what you and your clients need to do to access the child benefit, the age credit, and the poverty reduction credit. Review the importance of filing a tax return for your low-income clients, even when they aren't required to submit a return.

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pro-accounting

What Do You Know About Gift Card Accounting?

Check out how to account for gift cards when you do double-entry bookkeeping. Learn how to note gift card sales and redemption in your client's books. Review some provincial and federal gift card rules, and find out what happens when your clients give gift cards to their employees as bonuses or gifts.

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