Blog
BREAKING: Too many ducks in a row at RHN CPA
Nov. 28, 2023 – The accountants, bookkeepers and administrators at RHN CPA are known for their incredible organizational skills and ability to get paperwork in order for their clients, but it seems that their keen attention to detail has attracted a mysterious group...
New Reporting Requirements for Trusts in Canada – What You Need to Know
Important update — bare trusts (CRA, March 28, 2024) On March 28, 2024, the Canada Revenue Agency (CRA) announced that bare trusts are exempt from filing a T3 Income Tax and Information Return (including Schedule 15) for the 2023 tax year unless the CRA specifically...
Winery Accounting 101: How to Properly Value Your Inventory for Long-Term Business Success
A lot goes into owning and operating a winery. There’s the growing or sourcing of grapes and products to resale, the staffing, the branding and marketing, the customer service and more. If you’re managing all that, the last thing you want to think about is accounting....
How to get your CPA in BC
Are you considering a career in accounting or finance? Becoming a Chartered Professional Accountant (CPA) opens doors across public practice, industry, government, and not-for-profit work. In BC, the path is structured but flexible enough to work while you learn. This...
You’ve Been Named as an Executor: When Should You Hire an Accountant?
Losing a loved one is difficult, and the legal and financial work that follows can add stress. As executor (or liquidator, in Quebec civil-law contexts on the civil side), you have serious duties: locate assets, pay debts, file tax returns, communicate with...
Meet the People-Person Accountant: Addressing the Internet’s Misconceptions About the Accounting Profession
When you think of an accountant, what comes to mind? If images of solitary figures hunched over spreadsheets in dimly lit offices pop into your head, you're not alone. We ran a report of some of the most frequently searched questions on Google about the accounting...
Three common accounting mistakes startup companies make and how to avoid them
We started RHN CPA because we love accounting. But if that wasn’t the primary reason you started your business, we wouldn’t judge you. In the excitement of building a startup, it’s easy to overlook accounting details in favour of the more exciting (and often more...
How Client Services Accountant Tina Kwon turned uncertain circumstances into a fresh start
2021 was not a particularly great year to graduate university. A global pandemic had hit, the future of the workforce was up in the air and in-person celebrations were canceled. But none of that phased Tina Kwon, who had just graduated from UBC with a science degree....
RHN CPA helps Senior Accountant David Bellew balance his love of people with his love of numbers
RHN’s Kelowna office houses a small and intimate team. That’s part of what makes it the perfect place for David Bellew, a senior accountant with a love for people, service and community building. “The team here is passionate about the community they serve,” says...
Accounting feels like home, RHN feels like family for Client Services Accountant Eleanor Wong
When Eleanor Wong was deciding what she wanted to pursue as a career, she knew one thing for certain—she didn’t want to be an accountant. “My family is full of accountants,” Eleanor explains. “Plus, the idea of working in an office cubicle seemed unmotivating to me.”...
Estate Returns: What Executors Need to Know
As executor of a deceased person's estate, you may need to file estate returns with the Canada Revenue Agency (CRA) for income earned after the date of death until the estate is wound up. This is separate from the terminal (final) T1 return, which covers the...
Terminal Returns: What Executors Need to Know
If you are responsible for administering the estate of a deceased individual, you will need to file a terminal tax return (also called a final return) in their name. This article explains what that return is, why it matters, when it is due, and how to approach filing...