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2021 Tax Filing: How to Avoid a Nightmare

2021 Tax Filing: How to Avoid a Nightmare

2020 has been a difficult year for most of us. The closure of international borders and social distancing to curb the spread of COVID-19 has had a devastating effect on the world’s economies. Many Canadians have lost their jobs or have seen their businesses contract due to the pandemic.

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You too can speak accounting!

You too can speak accounting!

How often do you leave a meeting with your accountant feeling more confused than before you started? This reminds me of the joke What is the definition of “accountant”? Someone who solves a problem you didn’t know you had in a way you don’t understand. In all seriousness, as a business owner it is helpful to know the basic accounting terminology to understand your annual financial statements.

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New Requirements for B.C. Corporations!

New Requirements for B.C. Corporations!

Starting October 1, 2020 all B.C. private corporations should have a transparency register. The register should be kept at the company’s records office for inspection, which is normally your lawyer’s office, but not all corporations have a lawyer on retainer. This registry is a document that is not required to be filed with the government but should be accessible upon request.

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