at 102, 2306 McCallum Road, Abbotsford, V2S 3P4 Canada
Established in 1999 Numbers was originally started to work around the schedules of our 4 children. Initially we worked evenings so I could spend the day with our two youngest children who were still preschoolers. In 2005 we had outgrown my basement, so we moved to an office on Walsh Avenue. We spent 6 years in that location, until we had no room left to move. In November 2011 we moved to our present location on the main floor of the Chiropractic Arts Building. Room to grow, with a location that allows us to make our clients feel comfortable. Our team won the Business Excellence Award in 2010. I'm very proud of that accomplishment because it was won by all of us.
154 FB users likes Numbers Unlimited, set it to 6 position in Likes Rating for Abbotsford, British Columbia in Bank/financial services category
30 days left! We have had many people come in early this year, but a caution - if you know you are still expecting some forms from investments. you may want to wait until you receive them. For some reason this year the T4RIF forms seem a bit slower than usual. If you file and then receive something additional, DON'T PANIC. There is still time to file an adjustment for the additional income or deduction.
If you expect a refund now is the time to file! CRA is assessing tax returns very quickly. If you are a new client, come in and see us - you will get a coffee card for Timmys or Starbucks as a new client. If you want information, email us at email@example.com.
This is the last year to claim safety deposit box fees! Don't forget to use that deduction if you have investments. If you haven't claimed it in the past, you can adjust previous years' returns.
We have had a really busy tax season and it is only March 9th!! Many people have dropped off already. Remember to bring in all your medical, donations, RRSP's etc. Don't forget that if you receive income from investments, the forms are still coming. If you file now, you will have to file an adjustment later to report the additional income. If you want a sheet with a list of what you need to bring in, email firstname.lastname@example.org and we will forward it to you.
We have a new bookkeeper that started this week. Her name is Julie Watson-Balogh. Welcome to the team!
Grace Coleman joined our team yesterday. Come by and introduce yourself to her.
Make sure to claim your property tax Home owner grant. It must be claimed by midnight July 2nd to avoid a penalty. Happy Canada Day!
We will be welcoming a new staff member next week. Stay tuned to find out who that is!
Canada Revenue Agency (CRA) has a number of dates and deadlines of importance to corporations. Failure to comply with these deadlines may raise a red flag with CRA, which in turn may trigger an audit. February 28 -T4 (Statement of Remuneration Paid) and T5 (Statement of Investment Income) slip and summary deadline for all corporations regardless of fiscal year end. 15th day of following month-payroll remittances due for corporations with less than $15,000 monthly withholdings. If your withholdings exceed $15,000 then you could be required to submit remittances more frequently. 2 months after your corporate fiscal year end-tax due for corporations with taxable income in excess of $500,000 or for corporations who are not Canadian Controlled Private Corporations. If your corporation is expected to be taxable in the fiscal year CRA must have received the estimated funds by this date otherwise interest will accrue on any balance due and not paid. One month after the month or quarter end or 3 months after your corporate fiscal year end-GST returns depending on whether the corporation is a monthly, quarterly or annual filer. 3 months after your corporate fiscal year end-tax due deadline. If your corporation is expected to be taxable in the fiscal year CRA must have received the estimated funds by this date otherwise interest will accrue on any balance due and not paid. 179 days after your corporate fiscal year end-deadline for payment of any bonuses declared at the corporate year end date to maintain the deductibility of the expense in the corporation. 6 months after your corporate fiscal year end-corporate tax return filing deadline, returns filed after this date with tax due will be assessed a penalty. If any of these dates fall on a weekend or statutory holiday you have until the next business day to file.
NUMBERS UNLIMITED ANNUAL CHRISTMAS OPEN HOUSE Friday December 13, 2013 3:00pm – 6:00 pm 102, 2306 McCallum Road, Abbotsford Please join us for light refreshments Donations for the Food Bank Greatly appreciated! RSVP – Anne email@example.com
What are prescribed rates and how do they affect me? Canada Revenue Agency (CRA) assigns "prescribed" interest rates every calendar quarter. These rates are used for interest charged on overdue taxes, interest paid to taxpayers and interest rate used to calculate taxable benefits loans and loans between related parties. Rates have been very low for several years. 1% has been the rate. This has meant that we have not worried so much about owing CRA money and have not expected much interest income if they have our money. The real impact of the low rates has been in benefits loans and loans between related parties. Imagine that you can borrow money from the bank at prime rate plus some percentage usually 3 or 4% OR you can borrow from your own company at 1%. Which would you rather do? The loans from your own company do have strict rules which we cover in another FAQ. But when structured correctly this arrangement can save a business owner significant interest rate expense. There is also a benefit in restructuring a business by buying and selling shares between family members. We know that we must make the sale at market prices but because of prescribed rates we don't need to charge market interest rates we can use the lower rates allowed by CRA. So we can use 1% instead of 3 or 4%. This can save a family money. Because prescribed rates can have a real impact on loans and transactions in a family business we like to pay attention to them. The rates are rumoured to be going up this next calendar quarter (October 1, 2013). So, if you have some loans planned they should be set up before the increase.
Cameras are off, equipment put away, crew gone. Funny, it's the same as it was before they came, but it seems emptier in here. The filming is part of a project for Small Business, and I will post a link to the video once I have it. Sage Software is interviewing various businesses for input on accounting. It should be interesting to see how the end product looks.
We had a great walk in the Coldest Night of the Year. We had a tour of Cyrus Centre as well, then went back to Seven Oaks to have some chili. Thanks to Cyrus Centre for organizing a great event and the Abbotsford Police Department for providing both participation and assistance to the walkers. You can still add to the pledges at coldestnightoftheyear.org. Thank you to everyone who supported our team - we really appreciate it!
Our office is participating in the Coldest Night of the Year walk in support of the Cyrus Centre. This walk is happening on February 21st right here in Abbotsford. As a group we would like to raise $1,000. Would you help us? Any donation of $20.00 or more will receive a charitable receipt. You can sponsor us through the website, coldestnightoftheyear.org, Abbotsford is the location and the team name is Numbers Unlimited. You can sponsor any one of our team - just choose who you want to support and donate! Cyrus Centre is a drop in centre for youth in Abbotsford, and has been providing meals 365 days a year to any youth that are in need. In addition, they provide support, laundry, emergency shelter, basic necessities, to any youth that require these services. They are helping the most vulnerable people in our community. Their goal for this year's walk is $25,000. We would appreciate your support.
January 15th is the last payroll remittance for 2014. Before preparing this last remittance, take the time to check your PIER report - make sure you have deducted the correct CPP & EI for each employee - then calculate your final remittance. Check your balance with CRA to ensure you are remitting what is still outstanding. This process will save a trust examination sometime down the line, and stops even having to fill out a discrepancy report. Well worth the time. If this is all gibberish to you, we can help!
We wish you a very Happy New Year. If you are celebrating this evening and need a ride home please call Operation Red Nose at 604-864-4814. We look forward to serving you with your accounting needs in 2015.
We should have a full house tomorrow at our open house. I'm looking forward to the food - Anne's been shopping!! Tomorrow between 3:00 & 6:00. Don't miss it.
We have an opening for a CGA position in our office. Our current CGA is retiring the end of December. If you are interested in discussing this opportunity, please email a resume to firstname.lastname@example.org. Position could be either full time or part time.
We had a presentation today at Rotary regarding the Living Wage. It was stated that a family of four spends more on daycare than anything else. More than housing! In Abbotsford, a living wage was deemed to be $17.01 per hour for a 35 hour week for both parents. What are your thoughts on the living wage? When you consider small businesses and the competitive marketplace, do you feel you as a business owner can afford to pay everyone a living wage? Yes, no? Thoughts?
We are hosting our annual Christmas Open House on December 10th in our office. If you would like to attend, please email Anne Martyn - email@example.com to let her know you will be attending. Also, please bring a contribution to the Food Bank. Their shelves are bare this year, and we want to support them as much as possible. Let's make a difference this year, and help everyone have a merry Christmas. Numbers Unlimited Annual Christmas Open House Wednesday Dec. 10, 2014 3:00pm – 6:00 pm 102, 2306 McCallum Road, Abbotsford Please join us for light refreshments Donations for the Food Bank Greatly appreciated! RSVP – Anne 604-852-0186/ firstname.lastname@example.org by Dec. 5th