Today: Monday, May 29, 2017, 12:30 am (PST)

  • Dawn Loeffler, BA (Hons), CPA, CA
Staff Accountant, Gilmour Knotts

    Tax Treatment of Reserves

    Tax Question: What is the tax treatment of reserves? Facts: A common reserve to record on financial statements is an allowance for customer receivables that are considered to be bad ...

  • Angela Hardbattle

    What is a Schedule 91?

    Tax Question: What is a schedule 91 as part of a T2 corporate tax return?  Facts: Schedule 91 is for non-resident corporations that carried on business in Canada or disposal ...

  • Dawn Loeffler, BA (Hons), CPA, CA
Staff Accountant, Gilmour Knotts

    Protecting your Company: Bank Reconciliations

    Tax Question: How does preparing bank reconciliations help to detect and prevent possible fraud? Facts: A bank reconciliation explains the difference between the balance in the bank account per the ...

  • Dawn Loeffler, BA (Hons), CPA, CA
Staff Accountant, Gilmour Knotts

    Protecting your Company: Segregation of Duties

    Tax Question: What duties should be segregated to help prevent fraud? Facts: Segregation of duties means that key duties are divided among two or more people so that no one ...

  • Angela Hardbattle

    Corporate Departure Taxes

    Tax Question: Are there any consequences when a corporation leaves Canada and takes up residence in a new country? Facts: Generally, a corporation is a resident of Canada if its ...

  • Grant  Gilmour

    Tax Rules for Bad Debts

    Tax Question: How do income tax rules treat bad debts? Facts: There are two provisions in the Income Tax Act (ITA) for bad debts. Discussion: The first way to claim ...

  • Dave Sran, BBA Hons, CPA, CGA

    Shareholder loans on a balance sheet

    Tax Question: What are Shareholder Loans on a Balance Sheet? Facts: The Shareholder Loans category may appear as a short term or long term liability on a Balance Sheet. Shareholder ...

  • Dave Sran, BBA Hons, CPA, CGA

    Capital Leases on a Balance Sheet

    Tax Question: What are Capital Leases on a Balance Sheet? Facts: The Capital Leases category appears as a long term liability on a Balance Sheet. A Capital Lease is a ...

  • Angela Hardbattle

    Foreign Accrual Property Income

    Tax Question: What is Foreign Accrual Property Income (FAPI) and what affect does it have on my corporate taxes? Facts: If you are a Canadian resident and own a foreign ...

  • Dave Sran, BBA Hons, CPA, CGA

    Payroll tax rates for 2017

    Tax Question: What are the payroll tax rates changes for 2017 for withholdings? Facts: Payroll tax rates change every year and it is important for you to know the correct ...

  • Diane Sawyer

    What are important tax dates for 2017?

    Tax Question: Are you hoping to never miss a corporate filing deadline? Facts: Canada Revenue Agency (CRA) has a number of dates and deadlines of importance to corporations. Failure to ...

  • SEO

    Are your customers finding you on the web?

    What is SEO? SEO is short for Search Engine Optimization and it is the brains behind that magic that finds the ”things” we go looking for on the Internet. Pay ...

  • Angela Hardbattle

    What are the CRA program accounts?

    Tax Question: The Canada Revenue Agency (CRA) has issued me a business number. Now what do I do? Facts: In Canada, once a company is assigned a business number then ...

  • Long-term debt on a Balance Sheet

    By Gilmour Group Admin  Tax Question: What is Long-Term Debt on a Balance Sheet? Facts: The Long-Term Debt category appears as a long-term liability on a Balance Sheet. The balance ...

  • Dave Sran, BBA Hons, CPA, CGA

    What is Deferred Revenue on Balance Sheet

    Tax Question: What is Deferred Revenue on a Balance Sheet? Facts: The Deferred Revenue section appears under current liabilities on a Balance Sheet. Deferred Revenue represents revenue that is usually ...

  • Dawn Loeffler, BA (Hons), CPA, CA
Staff Accountant, Gilmour Knotts

    What is a Director’s Liability?

    Tax Question: What is a Director’s Liability?  Facts: As a Director of a Corporation you are responsible for ensuring the entity makes the appropriate filings and remittances of amounts held ...

  • Dawn Loeffler, BA (Hons), CPA, CA
Staff Accountant, Gilmour Knotts

    Refundable dividend tax on hand

    Tax Question: Have you paid too much corporate tax and have a Refundable Dividend Tax on Hand balance? Facts: A Refundable Dividend Tax On Hand (RDTOH) is a balance your ...

  • Dawn Loeffler, BA (Hons), CPA, CA
Staff Accountant, Gilmour Knotts

    Multiple Shareholders, Multiple Accounts

    Tax Question: How many shareholders loan accounts should I have? Facts: Canada Revenue Agency (‘CRA’) is paying much more attention to shareholder loan accounts. Discussion: If there are two shareholders ...

  • Dawn Loeffler, BA (Hons), CPA, CA
Staff Accountant, Gilmour Knotts

    Shareholders’ Equity – By Dawn Loeffler

    Tax Question: What is Shareholders’ Equity? Facts: Shareholders’ Equity is often used to measure the net worth of a company. It is used to assess the financial strength of a ...

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