QuickBooks Online (QBO) stands as a cornerstone for financial management in small to medium-sized businesses, offering a plethora of features that streamline accounting processes. However, the true potential of QBO is unlocked when integrated with other powerful apps designed to…
In the ever-evolving landscape of family-owned enterprises in Canada, financial transparency and accuracy are the bedrock of success and growth. I aim to empower your ambitions with unparalleled guidance. Today, I'm here to navigate you through the pivotal role of…
In today's fast-paced business environment, ensuring the accuracy and integrity of your financial statements is more critical than ever. For prospective clients looking to navigate the complexities of financial reporting, understanding the role of analytical procedures in Review Engagements can…
In the realm of financial reporting, ensuring transactions are recorded in the correct accounting period through cutoff procedures is not merely a matter of regulatory compliance but a cornerstone of financial integrity and accuracy. Accurate cutoff is critical for several…
Introduction: Navigating Review Engagements for Family-Owned Enterprises In the realm of financial oversight for family-owned enterprises, understanding and navigating Review Engagements is paramount. A Review Engagement serves as a critical examination process, offering a moderate level of assurance that an…
For individuals accustomed to higher earnings transitioning into retirement, the Old Age Security (OAS) pension may introduce an unexpected element to financial planning: the recovery tax. Here's how it plays out and strategies for managing it as you start receiving…
In this blog post, we explore the foundational aspects of Old Age Security (OAS) and Guaranteed Income Supplement (GIS) programs, and how trust income can impact these benefits for your elderly parents. Although we often get seniors who are disappointed…
The Canada Pension Plan (CPP) stands as a pillar of retirement security in Canada, offering a foundation upon which individuals can build a stable retirement income. For owners of family-owned enterprises, understanding and maximizing CPP benefits is not just a…
In the intricate process of estate planning and will preparation, the expertise of an accountant is invaluable. While the solicitor's role is integral, encompassing the validation of the will, ensuring legal compliance, and safeguarding against undue influence, an accountant's contribution…
As a Trust and Estate Practitioner (TEP), I frequently encounter inquiries regarding the necessity of drafting a will. The absence of a will upon an individual's death results in what is legally known as intestacy. This situation not only complicates…