altitudeaccounting - Tumblr blog

[altitudeaccounting]

If a company owner applies for shareholder load the company will result in straight taxable benefits to that shareholder. If they haven’t charged themselves with the essential interest rates that were applicable during the period. It is recommended to consult Tax Specialists for shareholder loan.

[altitudeaccounting]

If you are looking for an accountant for paralegal services to help you in Debt collection in Edmonton, then firm like Altitude Accounting Inc. is recommended destination. When a debtor defaults to pay an outstanding account or a creditor breaks your rights by involving in illegal debt collection tactics, then the court system will help you to protect your interests and bring an end to the misuse of your legal rights.

[altitudeaccounting]

If you are looking for help to lower your fine, reduce your demerit points, and even have the ticket thrown out. Consult a consultant and he will help to save your money on traffic tickets and save on insurance premiums.

[altitudeaccounting]

Criminal record suspension paralegal previously called a pardon. It assists to reduce discrimination resulting from having a criminal record proves that your blame should no longer reflect on your character, keeps your criminal record apart from other criminal records.

[altitudeaccounting]

If you are looking for an expert accountant then Altitude Accounting Inc. is a recommended destination for you. Filing personal tax returns on time is compulsory for all earning professionals of the country. You should always consult a reputed company for filing your personal tax returns. They will help you to manage your tax issues.

[altitudeaccounting]

Accounting is the backbone of every business, without which businesses will fail to survive. Here are the steps which include in Full Services Accounting- analysis of the business transaction, record journal entries, posting to the ledger, prepare the trial balance, make adjusting entries and much more.

[altitudeaccounting]

Why Is It Important To Choose The Right Accounting Firm For Your Business

Financial management is one of the most crucial aspects of your business that can decide the fate of your venture. When you are starting out, the financial figures are not that vast and can be managed by a single person. But, as your business keeps growing, your responsibilities, as well as financial responsibilities increase. Most entrepreneurs start making errors at this stage.

Accounting and finance management is not just about recording transactions and cataloging expenses. It is about maintaining financial records in a way that allows your business to strategize better and move towards growth and profits. Right from managing the inventory and payrolls to filing taxes on time, all these tasks are a part of accounting.

For more information about Full Services Accounting in Edmonton, contact Altitude Accounting Inc.

[altitudeaccounting]

Why Do You Need A Professional Accountant While Selling Your Business

Exit strategies are an essential aspect of operating a business. After all, contingencies, like a financial downfall, call for a way to get rid of liabilities while saving as much money as feasible. Selling a business is one of the most popular exit strategies among entrepreneurs. Business owners decide to sell or transfer their business to a third party for various reasons such as retirement, lack of successors, desire to pursue a new opportunity, personal obligations, and financial concerns. Many businessmen also start their business with plans to liquidate their assets at a certain point.

For more information about Small Business Accountants, contact Altitude Accounting Inc.

[altitudeaccounting]

Six Bookkeeping Mistakes That All Startups Make And How To Avoid Them

Certain business operations such as accounting, sales and tax filing act as a backbone for every new venture. Without the success of these crucial functions, a startup fails to survive. One such function is bookkeeping or recording of everyday financial transactions. Every entrepreneur requires accurate financial reports to evaluate how their business is performing and to strategize for the future. Without a strong accounting and bookkeeping practice in place, making financial and strategic decisions becomes difficult.

For more information about Bookkeeping Mentoring, contact Altitude Accounting Inc.

[altitudeaccounting]

Filing Your Personal Tax Returns: What Do You Need To Know

Filing personal tax returns on time is mandatory for all earning professionals of the country. The money collected in the form of personal and income tax is spent in a number of different ways for the development of the economy and public welfare. According to the federal website of the Department of Finance, out of the total government revenue of C$ 293.5 billion collected, C$ 287.2 billion is spent on economic development. So, you can imagine the magnanimity at which the Canadian government spends for the country. The total government revenue is inclusive of the taxes you pay.

Some of the key areas where government revenue is allocated are infrastructure development, skills building initiatives for an improved labor force, eradication of gender imbalances, improvement of the socio-economic conditions for Canada’s indigenous people and limitation of the soaring housing prices. Hence, the amount you pay as taxes is used for the betterment of the Canadian society.

For more information about Corporate Tax Returns, contact Altitude Accounting Inc.

[altitudeaccounting]

Small Business Accounting 101

Every business, irrespective of its size, needs to maintain an accurate book of account. When you have a bookkeeping system in place, it allows you to record all your daily transactions in a standardized form, understand the financial position of your business and file your tax returns in a simplified manner.

If your business is growing rapidly, then there will be multiple transactions taking place daily. Therefore, you need a dedicated person to look after your accounting process. In fact, large organizations have a separate accounts department to look after their financial accounting. However, if you have a growing enterprise and want to consult a dedicated team of small business accountants, then you’ve come to the right place. To begin with your small business accounting, here’s what you should be doing.

Get more information at Small Business Accounting In Edmonton.

[altitudeaccounting]

As a personal representative, you must act honestly and in good faith, use care, attentiveness, and skills that a person of ordinary prudence would exercise when managing another person’s property. If a personal representative refuses or fails then you can bring in an application to the court to obtain an order to require the personal representative and can impose conditions on the personal representative.

[altitudeaccounting]

Beautiful BC (except when you die): Estate Planning Solutions for Albertans with Assets in BC

For many Albertans, the dream of owning property or retiring in BC is part of their life plan. No more shoveling. No more scraping ice. However, for estate planning purposes, the two provinces are surprisingly different. Albertans need to know about these differences, and, where possible, do some planning to reduce the costs and uncertainty- both financial and emotional- of their estate plan.

How are Alberta and BC Different?

There are 2 fundamental ways that Alberta and BC are different for estate planning purposes: probate fees and who can vary a will (dependants’ relief).

For Buying a Business or Estate Planning Solutions in Alberta, contact Altitude Accounting Inc.

[altitudeaccounting]

Adult Guardianship: Caring For The Ones You Love

Do you find you have a loved one, who has lost capacity, is reaching adulthood and who needs help in making decisions? If so, we can help.

Adult Guardianship and Trusteeship Act

In Alberta, the Adult Guardianship and Trusteeship Act (“AGTA”) governs when an adult needs assistance making decisions. The AGTA provides a variety of options that range from having a person provide some help in making decisions to having a person take over the decision-making completely. The options depend on the kinds of decisions being made.  There are 2 kinds of decisions covered by the AGTA:  “personal matters” and “financial matters.”

Get more information at Full Services Accounting Firm In Edmonton.

[altitudeaccounting]

Avoiding Liability as Personal Representative

Have you been appointed the personal representative of an estate? Do you know what your obligations are? Do you know that you can be held personally liable if you do not administer the estate properly?

If you have been appointed to administer someone else’s property, this gives rise to greater legal responsibilities than when you manage your own property. As a personal representative, you are a fiduciary, which means that you must act honestly and in good faith, and use the care, diligence and skill that a person of ordinary prudence would exercise when managing another person’s property. You are free to deal with your own assets in any way you wish. If you make an error, you have only yourself to answer to. As a personal representative, if the estate suffers a loss, you may be personally liable to the beneficiaries of the estate.

Get more information at Full Services Accounting Firm In Edmonton.

[altitudeaccounting]

Child Care Subsidy Vs. Child Care Expenses

There is a common misconception between the requirements for Child Care Subsidy versus the Child Care Expenses Deduction on your personal income taxes.

Child Care Subsidy is provided by the Government of Alberta for eligible lower-income families using licensed day care centers, childcare facilities, day homes and pre-schools.  To qualify for the subsidy, you must have your child enrolled in a licensed and approved facility; and meet the lower-income requirements.  As a general rule the combined household income must be between $50,000 – $60,000 to qualify (although every situation is different so we recommend doing the online estimator or calling 1-877-644-9992 to speak with a professional).

For more information about Child Care Subsidy Vs. Child Care Expenses, Contact Altitude Accounting.